H&M Confirms Rumors Of New Retail Chain

H&M confirmed a rumor from earlier this week that it would launch new store chain in 2013.

Karl-Johan Persson, the Swedish retailer’s chief executive officer, told WWD that the recent financial success was a factor in launching a new store concept:

“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.”

So does this mean high-end H&M is actually happening? The brand didn’t offer up any details as to the chain’s offerings or price points, which means we’ll just have to wait and see.

[WWD]

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