Swedish fashion industry is whispering of a possible new luxury brand being planned by H&M (OMX: HM B). Dagens Industri wrote about the rumours today, noting that CEO Karl-Johan Persson had previously said the company may expand their offering with new concepts.
Collection of Style (Cos) fashion line, which is aimed at a more higher-end target group than what is H&M’s traditional offering, was started under his watch and new Cos stores have been opened at a fast speed. The rumoured new line would be even more luxurious.
The company has not confirmed any of the rumours and if they are true, most of its own employees are in the dark as well. Dagens Industry contacted a company spokesperson who said that while they are constantly looking for new opportunities, she has no knowledge of any new brand coming out. Hennes & Mauritz gained almost 1% in Friday action.
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