H&M to launch new store chain

‘We have many different projects in progress and already next year we will be launching a completely new store chain,’ H&M CEO Karl-Johan Persson said. ‘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 made the comments in a trading update. The group reported that profits rose nearly five percent in the first quarter of 2012, with sales racing ahead by 13%.

Besides its marquee H&M chain, Hennes owns midmarket minimalist Mecca COS, jeans specialists Cheap Monday and quirky retailer Monki.

‘We have great faith in this new brand and we see considerable potential for further initiatives,’ Persson added.

In February, Michelle Williams wore a H&M gown to the BAFTAs, spurring speculation that the retailer could be readying an eveningwear launch. The company hasn’t disclosed any specifics about product ranges or price points, but its recent red-carpet coup and forthcoming Conscious Collection series of gowns may offer hints about the new chain’s direction.

Take a look at the Marni for H&M collection here