h&m outside store.jpgFollowing the rumours that H&M is planning to launch a luxury line comes the news that it will launch a new retail chain of stores. Hennes & Mauritz plan to open the new chain next year which will take on the same independence as its other chain, COS.

"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," Karl-Johan Persson, H&M chief executive officer, told WWD.

Without giving too much info away, Persson did say that they had "great faith in this new brand and we see considerable potential for further initiatives. Our collections have been well received which has resulted in increased market share in a very challenging fashion retail market, and we have strengthened our position even further."

I can't wait to hear more!