H&M will launch a new retail chain in 2013.
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Despite the challenging fashion retail climate of late, Swedish retail house H&M recognizes the upswell it's riding, what with collaboration after sold-out collaboration, and plans to capitalize on it by introducing a new chain offshoot to their style empire. Profit margins for H&M may have dropped a little due in part to the rising price of cotton, but H&M CEO Karl-Johan Persson told WWD, "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."
Persson didn't offer much else in the way of details about the upcoming launch other than, "We have great faith in this new brand and we see considerable potential for further initiatives." ... *crickets* Leaving us with a HOST of other questions. What will the price range be? What demographic will this new store be marketed to? Their U.K.-based COS is all about minimalism and conservative shapes and cuts. The prices are only slightly higher but warranted because the materials used are much richer. Can we expect the new yet-to-be-named brand to climb even higher into luxury status? Will we be seeing H&M FASHION WEEK presentations?!?! The (fashion) world needs to know!