Swedish apparel giant, H&M, has dominated fast fashion for a number of decades. Armed with on-trend collections and affordable rates, the company grown to launch thousands of locations around the world. This success has also helped H&M to establish multiple associated brands including, Collection of Style, Monki, and Cheap Monday. Each of these offshoots are equipped with their own unique feel, sometimes outfitted with higher quality wear, and generally geared towards a more specific demographic.
Now, it appears as though the H&M parent company is prepping to debut its latest addition to the family. Arket is a new affiliated retailer that, according to multiple reports, will launch this year. The first location is due out later this summer, and will inhabit London’s Regent Street.
In an interview published earlier today, H&M officials are calling Arket a “modern-day market that will offer essential products for men, women, children and home.” In an exclusive report from Business of Fashion, Arket creative director, Ulrika Bernhardtz, states that the new venture is a natural step forward for the H&M brand. “We really believe it’s relevant to a modern customer to bring different brands together — under one roof, under one channel — and to make that choice for them and also make it more convenient,” Bernhardtz told BoF reporter, Limei Hoang.
Arket is set for a wider release later this year, and will offer quality essentials that are priced higher than H&M equivalents. As for pricing, an example being floated around is that of men’s shirts, which will range from roughly $56 CAN to $164 CAD. There is no word yet on whether Arket plans to open up shop here in North America, but if it follows label mates like CoS, we’re likely to see a location appear in Canada in the near future.
