A staple of the high street and an essential label in many people’s wardrobe, H&M has managed to carve itself a very comfortable place in the UK fashion industry’s heart but could its next move prove a step too far or can the retailer do no wrong?
Known best for its value fashion the Swedish giant provides its customers with the latest trend led styles plus casual basics with prices to rival Primark. It appears the retailer can do no wrong with its latest results showing positive gains reporting like-for-like sales up 3% in the three months to February 29.
H&M has now stated its ambitions to launch a new chain to provide its customers with an even broader product offering leading many to speculate on what this could be. Rumours have also been rife this week that the chain is to launch a premium brand, which would sit above its higher end offering Cos. Perhaps these two could stem from the same root and H&M could be set to move into the luxury market.
A step too far for the value retailer some might think but H&M has already shown it knows how to entice customers in with its designer offerings. Its collaborations with the likes of Marni, Versace and Lanvin have left even the coolest of fashionistas clambering to get their mitts on a limited edition piece.
Its designs have now also graced the red carpet with actress Michelle Williams unexpectedly opting to wear a custom made H&M dress to the BAFTAs in London last month. Next month the retailer will also launch its Exclusive Glamour Conscious collection, a sustainable line of red carpet inspired dresses to please the green fashion army.
Of course H&M has already proved it is able to move smoothly into the higher echelons of the fashion world with its Cos chain, loved by its customers for its sleek minimalism and sharp tailoring, so a move into the premium sector is not beyond the realms of possibility.
With its track record certainly one to envy the fashion world will wait with bated breath to see what the chain has up its sleeve next.
Victoria Gallagher, News Reporter, Drapers