Petrus Palmér doesn’t want Hem to be the next Ikea

“No Black Friday. No seasonal sales. No promotional pricing.” Earlier this year, Petrus Palmér, the founder and CEO of Hem, wrote these words on LinkedIn about his decision to do away with all discounts. This isn’t the first time Hem’s business model has changed course. Palmér founded the cult-favorite Swedish brand—known for its collaborations with some of today’s most cutting-edge designers—in 2014. It launched as primarily a direct-to-consumer brand, but that has...