A few days ago I mentioned in one of my posts the rumour of H&M launching a luxury line. The retail giant has now decided to address the press and confirm the company’s new initiativ.
CEO Karl-Johan Persson said in a statement: ‘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.
Keeping tight lipped, ensuring even more anticipation from customers, he continued: ‘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.’
Camilla Emilsson-Falk, Head of Media Relations for H&M, said: ‘We see the new chain as a complement to H&M. It will be at a slightly higher price bracket and with a little better quality, but still stay within the framework of our business concept – fashion and quality at the best price.’
Super exciting news if you ask me! The new label is said to be launched in Europe in spring 2013. Patience, patience, patience…