H&M reveals it is working on a new brand
Hennes & Mauritz, and its sister brands, COS, and & Other Stories, continue to expand and penetrate new markets, but it seems that the Swedish fashion giant has more in store. H&M CEO Karl-Johan Persson talked about new projects during the press conference for its latest results.
"We are looking at new concrete brands but we'll see when we can launch. A best guess is sometime in 2017. In parallel, we are looking at widening the H&M store offerings and also broadening the online stores' range," said Karl-Johan Persson, as reported by Swedish financial newspaper di.se.
H&M’s most recent launch was & Other Stories, which debuted in 2013 in London. It started as a beauty shop before expanding into clothes, shoes, and bags and now has more than 20 stores in 10 countries.
The Swedish retaler doesn’t plan to shift its focus from its newer brands though. “It’s primarily COS and & Other Stories this year,” Persson affirmed. Indeed, COS recently confirmed that it will take the place of H&M on 42nd and 5th in New York City’s Midtown Manhattan.
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