Broke skinny hipsters found a savior in Cheap Monday. A $60 pair of jeans that denoted status as an indie favorite (well OK maybe two years ago) kept new Williamsburg transplants without trust funds from stocking their wardrobes entirely from H&M and American Apparel. Alas those halycon days of independent Swedish denim that said "I'm cool, my jeans are hot, and I didn't drop $200 at APC or Earnest Sewn" are over. H&M has taken a 60% stake in the label. Or rather a stake in its parent company Fabric Scandinavian AB. We have no idea what it means except that they are going to have to start stocking larger sizes. Size 27 doesn't really cut it in the heartland these days. Weirdly H&M CEO Leif Persson seems more interested in Cheap Monday sister brand Monki as a stand alone portfolio piece. We are guessing he hasn't been to Brooklyn in a while.
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