is reporting that Sweden’s fashion world is becoming a little smaller. Hennes & Mauritz AB (better known as H&M) has purchased Fabric Scandinavia AB, makers of Cheap Money denim.

The deal which would give H&M a 60% stake in Fabric Scandinavia also includes retail outlets Monki and Weekday.

One can only assume that the purchase is meant to help strengthen H&M’s denim offering inside their retail chains, as they continue to compete with the likes of GAP and UNIQLO worldwide.

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