Swedish fashion giant H&M group is preparing for the launch of multi-brand e-commerce store focussing on fashion and discount fashion. The new project, called 'P12', could launch mid-April where around 60 brands have already been lined up to sell with the H&M group whose motto is ‘The Paradise for Style and Bargain hunting.’ As per reports suggest they have about 100 offices and an estimated investment of at approximately 50 million Euros.

The potential e-shop is expected to join the fast-fashion company's overall new digital strategy which it announced during its most recent and unhappy financial results where it said the group would close more H&M stores in 2018 and open less new stores than previously decided on. In spring, the group will also launch its H&M lines on Tmall, the mega Chinese e-commerce platform, while its upcoming brand, Nyden - a fashion brand targeted at millennials, will only be sold online and in limited flagship stores. For the fourth quarter 2017, H&M group sales fell by 4 per cent to 58.4 billion Danish kroner, over the fiscal period (6.1 billion Euros). For the entire year, total revenues rose by 4 per cent to 231.7 billion kroner, or 22.2 billion Euros.