H & M is expanding its brand portfolio with Arket, a new label that follows on the lucrative success it has seen with its additional brands, such as Cos, Weekday and Cheap Monday.
The name which means 'a sheet of paper' in Swedish, is the 11th brand from the H&M stable and will be a modern-day market. According to the company, the new entry will complement the brand portfolio as it will sell Arket's own products alongside a selection of products from non-H&M brands, men's, women's and children's ready-to-wear and accessories collections and a homeware department - all under one roof.
'It both relates to our origin in the Nordic tradition of functional, long-lasting design and symbolises the blank sheet, the sense of optimism and possibility we felt creating this new brand,' explained creative director Ulrika Bernhardtz, who has been working on the concept since January 2015. Arket reinterprets classics that have the potential to create a timeless passion with fine materials and a color palette.
'The overall direction and focus is quality in simple, timeless and functional designs. There will be products in a broad price range, however in a slightly higher price segment than H&M with emphasis on materials, function and fit,' said CEO Karl-Johan Persson.
For the first time in the history of H & M, wherever location permits, stores will also include a cafe that will serve modern Nordic cuisine, based on its vision of quality ingredients and healthy living.
The first Arket store will be launched in London's Regent Street at the end of August 2017, as well as online in 18 European countries. Further stores in Munich, Brussels and Copenhagen are to follow shortly thereafter.
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