H&M set to launch new chain of stores

The Hennes & Mauritz group reveal that they will create a new brand for 2013

After lots of will they, won’t they, speculation, Swedish high street giant H&M has confirmed that they will launch a new chain next year.

It’s understood that the Stockholm-based Hennes & Mauritz group are planning to open the new brand of stores in late 2013 and that the label will have a more expensive price point than H&M.

The company are keeping schtum on all other details for now, with no news on a name or exact dates of opening.

But what we do know, is that the store will join the likes of COS, the high-end high street store famous for its minimalist cool aesthetic, super-affordable and fun chain Monki and denim label Cheap Monday in its conglomerate of fashion brands.

Karl-Johan Persson, H&M’s CEO, told The Telegraph in a statement: ‘We have many different projects in progress and already next year we will be launching a completely new store chain. Like COS, which today is very successful with good profitability, the new chain of stores will be independent and complement the other offerings from the group.’

So there you go. More Scandinavian fashion goodies are coming to a high street near you. Bring on 2013!

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