H&M is launching a new brand called Arket later this year. Described as a “modern-day market that will offer essential products for men, women, children and home,” Arket is the newest addition to the Swedish clothing-retail company’s brand portfolio. Currently, H&M’s imprints include COS, Cheap Monday, & Other Stories, Monki and Weekday. Arket looks to expand upon that with a focus on materials, function and fit. According to creative director Ulrika Bernhardtz, “The brand DNA is timeless, crisp, quality and warmth,” providing a non-trend-focused line for the fast-fashion company. Arket will be selling its in-line products alongside other non-H&M brands, and will have a price point slightly higher than the company’s main H&M line. Men’s shirts will range from €39 EUR to €115 EUR (approximately $42 USD to $123 USD).

Arket’s first retail store will be on London’s Regent Street and is slated to open late summer or early fall of this year.

SOURCE: BUSINESS OF FASHION