H&M is unveiling a new brand entirely different from anything it has produced before, according to Bloomberg.
Few details are shared on the mysterious new brand, but it is set to launch as early as 2017.
The H&M group owns six brands, including Cheap Monday, Monki, & Other Stories and COS, among others. COS is H&M’s slightly pricier, minimalist brand, & Other Stories caters to females with a more bohemian taste, while Monki features more eclectic styles.
Karl-Johan Persson, CEO of H&M, said the new brand will also be nothing like the company’s sister brands, according to Bloomberg.
According to Bloomberg, Nils Vinge, head of H&M's investor relations, said the retailer has plans to expand its smaller labels. “It’s primarily Cos, & Other Stories this year,” he said. “But we’re also looking to speed up Monki ... and Weekday,” the article reported.
Vinge said there’s a department within H&M that is “looking into new things all the time,” acknowledging that there are “some concrete things” currently under consideration for the mysterious new brand.
H&M is known for introducing designer collaborations to its consumers. It has collaborated with fashion household names like Alexander Wang and Karl Lagerfeld.
According to a press release by the company, H&M will also introduce a new beauty line H&M Beauty in July.
This line offers a broad range of make-up, body care and hair care. It will include two subsidiary collections: a premium beauty line and a conscious range of Ecocert-approved sustainable products. It will gradually be rolled out in 900 stores in 40 markets as well as online.
“H&M Beauty is one example of all the investments we are making in order to broaden H&M’s product range even further,” Persson said.