H&M-owned fashion brand Monki is set to close all its UK stores, marking another setback for the high street. The brand, popular with Gen Z for its trendy designs and low-rise jeans, will shutter its seven locations, including shops on London’s Carnaby Street and Manchester’s Arndale Centre.
In an effort to consolidate its offerings, H&M plans to merge some Monki stores with its other brand, Weekday, which also targets younger shoppers. The remaining Monki stores will close permanently. H&M confirmed that Monki’s closure will lead to the revival of Cheap Monday, another brand, which will return to Weekday stores after a six-year hiatus.
Despite the closures, Monki’s online store will remain active, and H&M has not yet announced which locations will be integrated or when the closures will take place. The full list of Monki’s UK stores includes locations in London, Bristol, Birmingham, Sheffield, Manchester, Newcastle, and Glasgow.
The announcement comes amid a tough time for UK retailers, who have seen their worst sales performance since the pandemic. According to a recent report, sales in November dropped 5.8% year-on-year, with both in-store and online sales seeing significant declines. The fashion sector was hit particularly hard, with sales down 8% as consumers reduced spending on clothing.
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