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H&M has long dabbled in high-low experimentation (the Lanvin/Versace/Marni collaborations, ever heard of 'em?), but WWD reports the retailer might be switching it up with a new brand of its own. If the rumors are true, then a luxury brand more expensive than the company's COS brand is in the works and designer for H&M New Business, Behnaz Aram, is on board. Mum's the word over at H&M headquarters, however, with spokeswoman Charlotta Nemlin saying "there is nothing new that we can [talk] about for the moment."