Fashion Scoop

{news} H&M Is Launching a New Chain

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Hennes & Mauritz AB said it would launch a new chain of stores in 2013 to broaden its offering, as it reported that its margins came under pressure in the fiscal first quarter from rising purchasing costs and increased markdowns.
“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,” Persson stated.

“We have great faith in this new brand and we see considerable potential for further initiatives,” he added, without providing additional details.

“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,” Persson said.

{Via WWD.com/Photo By Dominique Maître}
Categories: Fashion Scoop.


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