First they brought in new designers in the shape of Viktor & Rolf,  and, er, Madonna, and now H&M is to take their search for world domination (OK, high street domination, then) a step further, with the launch of an entire new chain...

Provisionally called 'Cos', the chain is H&M's attempt to go upmarket, and insiders say its an attempt to reposition itself after slow sales caused by fierce competition in the "budget" market from the likes of Primark, Tesco and George at Asda. The first 'Cos' store will open in the old Liberty building in Regent Street, London, with other outlets following soon across Europe.

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