H&M owns multiple brands targeting different market segments. Weekday is indeed one of the brands in the H&M Group portfolio, alongside others like COS, & Other Stories, and Monki. This brand diversification allows them to reach different customer segments.
Weekday is indeed one of the brands owned by the H&M Group, alongside others like COS, Monki, and Arket. H&M operates a portfolio of distinct fashion brands targeting different customer segments beyond the flagship H&M label. So the statement is true.