H&M plotting new concept
Global retailer H&M is opening a new chain of stores in 2013 to “broaden its offering” following rumours of it working on a luxury line with higher price-points.
The Swedish chain, which has 2300 stores in 43 countries as of 2011, confirmed with Women’s Wear Daily that a new retail concept is in the works, but did not reveal price points or the intended fashion.
It has recently been dressing stars for the red carpet like Michelle Williams and Amanda Seyfriend in its new “Exclusive Conscious” range, which uses eco-friendly materials like organic cotton, hemp, and recycled polyester.
It’s an interesting move for a brand that prides itself on fast fashion with low pricetags, however, for now the Swedish chain is staying quiet about any new higher-end forays.
“We are constantly looking at new ideas. However, there is nothing new that we can [talk] about for the moment,” says Charlotta Nemlin, spokesperson for H&M.
The chain also operates denim and apparel brand Cheap Monday, with it now speculated that its current head designer, Behnaz Aram, would oversee the 2013 brand expansion.
H&M has also been in the press recently with designer collaborations such as Versace, Marni, and Karl Lagerfeld, and is currently ranked as the second largest global clothing retailer behind Spain-based Inditex, the parent company of Zara.
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