H&M stays mum on new brand
Sweden’s H&M has revealed it is working on a new retail brand – but it won’t say what it is for now.
CEO Karl-Johan Persson has said in an interview the new retail concept will be completely different to H&M and its sister brands, which include Monki, Cos and Cheap Monday.
Persson hinted the new concept may be unveiled in 2017.
Cos is positioned as a high street brand a little pricier than H&M, targeting an older demographic and a little more minimalist in design.
Monki is aimed at teens and young women with bold, mischievous store designs and story telling decor.
Cheap Monday is primarily a denim brand, while Weekday positions itself offering Scandinavian style.
Persson says the purpose of secondary brands is to allow H&M to test concepts and trends at different price points.
Nils Vinge, from H&M’s investor relations department says the company has a development team solely focused on new concepts but acknowledged to media there are “some concrete things” being considered currently.
Archrival retail brand Zara, part of Spain’s Inditex, has expanded out of fashion into homewares with a growing network of Zara Home stores. So it is conceivable that H&M’s next brand might not be apparel related at all.