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H&M Announces New Retail Chain

| Filed under: Fashion SmashionBusiness BlitzH&M

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So they were planning something after all!

Fresh off the heels of that luxury line rumor, H&M announced on Thursday their plans to launch a new retail chain in 2013.

CEO Karl-Johan Persson said in a statement:

"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. We have great faith in this new brand and we see considerable potential for further initiatives."

That wasn't vague or anything, was it?

Even though the details are minimal, will U be shopping at H&M's new store???

[Image via AP Images.]

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