H&M Is Launcing A New Brand Called Arket

H&M is launching a new retail brand called Arket, the latest addition to its portfolio which already includes & Other Stories, COS, Cheap Monday, Monki and Weekday.

According to Business of Fashion, Arket will be "modern-day market that will offer essential products for men, women, children and home" and sell its own products along with a selection of products from non-H&M brands. The new retailer will be priced slightly higher than H&M, similarly to the & Other Stories and COS brands (for example, men's shirts will start at around $42 and go upward to $120). Along with fashion, the stores will also include a Nordic cafe where you can shop healthy food or eat in (so basically a more Instagram-able version of Whole Foods).

"The overall direction and focus is quality in simple, timeless and functional designs. There will be products in a broad price range, however in a slightly higher price segment than H&M with emphasis on materials, function and fit." said Karl-Johan Persson, chief executive and president of the H&M group, in a statement.

"We really believe it's relevant to a modern customer to bring different brands together—under one roof, under one channel—and to make that choice for them and also make it more convenient," Ulrika Bernhardtz, Arket's creative director, told BoF.

But Arket isn't rolling out to Asia quite yet. The new brand will open its first store on London's Regent Street this summer followed by additional stores in Brussels, Copenhagen and Munich. So looks like you'll just have to book a Euro-trip to shop the new store in the meantime.

From: Harper's BAZAAR US

With additional reporting by Hanan Haddad