“We see the new chain as something of a complement to H&M. It will be placed in a slightly higher price range and quality but still remain within our concept – affordable fashion at the best price,” said head of information, Camilla Emilsson Falk to Dagens Nyheter (DN).
However, what the line will look like or where the first shops are to open, H&M are not yet willing to reveal.
According to DN, an application for copyright protection for the name and logo of “& other stories” was handed in to the Swedish Patent and Registration Office (Patent och registreringsverket, PRV) as well as to the international organization Wipo in Geneva, as early as last year.
CEO Karl-Johan Persson had previously said that the company could broaden their activity with new concepts.
Persson was personally responsible for the launch of the new clothes chain Cos, whose line of clothes are more exclusive than those retailed in ordinary H&M stores.
On Thursday's press conference, Persson was secretive about the new venture and denied that the new line was a luxury version of H&M.
But it would seem as if the range will be broader because unlike the Cos line, the new brand is also protected for other merchandise, such as hair styling products, bed linen and sports products, according to DN.
Persson said on Thursday that the company has several new concepts in the pipeline.
“We are starting new chains to have new platforms to grow from,” he said during a press meet.
However, Persson didn't rule out the potential for growth in existing markets either, saying that the H&M brand still had potential to grow.