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H&M Plans to Launch a New Brand That's Nothing Like H&M

Photo: Getty Images

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Bloomberg reports that H&M is hammering out plans to build a new brand completely unlike the current fast-fashion powerhouse. The company's CEO Karl-Johan Persson told Bloomberg that the new concept is "completely different from H&M" and may or may not be launching in 2017.

It'll also look far different from any of the other, smaller brands that H&M owns: COS, & Other Stories, Weekday, Monki, and Cheap Monday. Nils Vinge, H&M's head of investor relations, also hinted at the new prospect during the company's most recent earnings call. According to Bloomberg, Vinge said that there were "some concrete things" in the works in the company's department that's dedicated to "looking into new things all the time."