They weren't happy being named as the second most valuable brand in the world this year, or being?one of the first high-street brands to establish a gender-neutral range of clothing - no. They just HAD to go and start yet another (what's inevitably going to be successful) clothing company, didn't they!?
Fast fashion giant H&M - whose roots are in Sweeden - announced the arrival of their latest lovechild called 'Arket', and we're already anticipating the dreamy aesthetic and kitted out concept store it's set to be. The retailer will be a "modern-day market that will offer essential products for men, women, children and home," said the company in an official statement.
According to industry insider Business Of Fashion, Arket?will sell its own products alongside a selection products from non-H&M brands?and will be priced slightly higher than that of the group's core H&M brand. At its core, Arket is set to be "timeless, crisp" with "quality and warmth" says?Ulrika Bernhardtz, Arket's creative director; which is good news if you're a stickler for good quality - like us. It's certainly not a bad brand DNA to have from the outset.
Arket joins H&M's existing brand portfolio, which includes & Other Stories, Cheap Monday, COS, Monki, and Weekday, as well as its flagship H&M brand.
Giving the fashion economic climate, it seems perplexing that such a hugely successful brand would heavily invest in another fashion venture. But maybe it's a sign of good things to come for the fashion industry, or maybe the money makers are getting bored of making money
The brand's first retail store will open on London's Regents Street?in late summer or early autumn of this year. We can already anticipate the overnight queues.
Oh, and in case you're wondering, the name Arket means 'sheet of paper? in Swedish.