For you fashion lovers out there who are loyal to the retail giant H&M (Hennes and Maurtiz), on Thursday, March 29 H&M announced that they will be launching a new, higher priced brand potentially called “& Other Stories” that is projected to open in several independent stores in 2013.
According to H&M, chief executive officer Karl-Johan Persson is looking forward to H&M moving forward.
“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,” Perrson said in an interview with Yahoo News last week.
The higher priced brand will offer better quality products but will not be concerned as a “luxury brand.” The new coming brand for H&M is modeled after their current brand COS that was started in 2007, which is also another higher priced extension of the H&M brand.
“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,” Persson said to WGSN (Worth Global Style Network) . “We have great faith in this new brand and we see considerable potential for further initiatives.”
If you are currently a fashion lover of the H&M brand, you will be intrigued by their newest extension to their fast growing company. You should be on the lookout for learning more information about the latest developments that will occur during the next couple of months.