Earlier this week rumors were swirling that H&M was launching a luxury brand. On March 29, 2012 it was confirmed that they would be launching a luxury brand in 2013.Given the long list of high end designers that H&M has worked with, such as: Versace and Marni, it is expected that they will be working with more high end designers to create this luxury brand.
H&M has confirmed that they will be opening a new chain of stores is 2013, but details remain limited. H&M chief executive officer Karl-Johan Persson stated in H&M’s latest three month report “We are making these long-term investments in order to build an even stronger H&M, so that we can give our customers an even broader offering going forward. 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. We have great faith in this new brand and we see considerable potential for further initiatives.”
H&M is keeping a tight lid on the details of the launching of these stores. They won’t even reveal the name of the stores.
“At the moment this is all the information we have available. We look forward to telling more at a later date,” H&M press officer Håcan Andersson told Relaxnews.
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