H&M to open luxury chain of stores!

H&M

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Stockholm-based Hennes & Mauritz (H&M) has confirmed the launch of a new luxury chain store by 2013.

H&M

"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 and already next year we will be launching a completely new store chain. 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," Karl-Johan Persson, CE of H&M said in a statement about the new store.

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