H&M: a new player in the luxury market?
Could H&M be preparing to launch itself on a new market, this time on the luxury sector? The Swedish business journal, Dagens Industri, certainly thinks so. The rumours came about after Behnaz Aram, a well-known Swedish designer, was hired for its “New Business” branch, responsible for developing the group’s most recent concepts (COS, Monki, Week Day and H&M Home).
COS’s Spring-Summer 2012 collection, presently the most high-end brand from the H&M group.
The young designer has until now been working on her own eponymous label, having previously been head of the women’s collection at Whyred, an exclusive contemporary label based in Stockholm. The hiring of Aram set the rumour-mill in motion and it’s now thought that she has been given the responsibility of developing a new high-end line.
Whilst it hasn’t confirmed the reports, H&M hasn’t denied them either, simply insisting that the group is naturally “always looking at new ideas”.
In the light of COS’s success, it does seem likely that the group should try to expand its range to the luxury market, and the recent arrival on the scene of its “red carpet” range from its Exclusive Conscious Glamour Collection has been seen as yet more proof...
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