H&M a Swedish multinational clothing-retail company known for its trendy fashion clothing for men, women, children and teenagers has announced the launch of its new brand “Arket”. The new brand will be added to the existing retail portfolio, which includes cheap Monday, COS, Monki, Weekday and the flagship H&M brand.
According to the fashion brand, Arket will be a “Modern-day market that will offer essential products for men, women, children and home”. The new brand caters towards buyers who prefer high end and niche fashion outlets rather than the mainstream retail outlets. Arket will sell its own products along with wide range of non H&M brands. However the products will be priced slightly higher than the average H&M brands.
Arket aims to provide a one stop destination with its wide range of collection and also a cafe featuring Nordic cuisine. According to Business of Fashion, Ulrika Bernhardtz who is Arket’s creative director says “We are adding on a café that will make the modern-day market a destination where you can both shop and enjoy healthy food”. He further continues to say that “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”. Arket’s first store will open on London’s Regent Street either in summer or early autumn of 2017, followed by launching e-commerce in 18 European countries.
-Akhila Kakarala with inputs from https://www.businessoffashion.com
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