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Swedish clothing brand H&M is set to add another retail brand to its ever expanding portfolio. Clothing and homeware brand Arket, will feature select brands as well as its own and also serve customers with an in-store café making it a hub for shoppers.
Their first flagship store is set to open later this year on London’s Regent Street, with following stores to open in Copenhagen, Brussels and Munich. Being the world’s second biggest fashion company H&M are making the decision to launch their new brand following tough economic growth in high street fashion – in which H&M’s shares have fallen by five percent.
“The overall direction and focus is quality in simple, timeless and functional designs. There will be products in a broad price range, however in a slightly higher price segment than H&M with emphasis on materials, function and fit.” – H&M CEO Karl-Johan Persson
H&M are not only looking to embark on a new brand but also improve the usual runnings of a clothing store, with the use of advanced digitalization; which in turn they hope will improve and forecast sales, stock control and the customer’s experience both online and in-stores.
Unlike the high street giant’s other brands, including Cheap Monday and Cos, Arket has been pitched to focus on timeless style, rather than current trends. In today’s fashion climate a brand that is not set to follow trends as they come and go is a welcome breathe of fresh air, although how they successfully achieve this and compete within the growing market is yet to be seen.
So as fashion fans and industry professionals patiently wait for the grand opening, the next few months are sure to be an anxious one for H&M as the media focuses on the details and news to come.
