H & M announced today that they purchased 60% of Fabric Scandinavien for $92 million, with the chance to acquire more of the company within 3-5 years. Along with several Swedish retail ventures, such as Weekday and Monki, they are the owners of one of our favorite denim brands – Cheap Monday. Their success has been proven and now their exposure is sure to blossom. We hope that the brand remains to be edgy and at the fashion forefront in these new hands.  CheapMonday

For the details on the deal, check in with our friends at Sportswear International: NEWS