Looks like our list of the best clothing stores is about to get a little bit longer. H&M announced the launch of its new brand, Arket, on Thursday morning. The upcoming line, which means "sheet of paper" in Swedish, aims to be a "modern-day market," offering men's, women's and children’s ready-to-wear and accessories, along with housewares and additional items from other brands not related to H&M.
"It both relates to our origin in the Nordic tradition of functional, long-lasting design and symbolizes the blank sheet, the sense of optimism and possibility we felt creating this new brand," said Ulrika Bernhardtz, Arket's Creative Director, in an official statement. According to the Business of Fashion, prices will range from 39 euros (about $42) to 115 euros (about $124).
"A fantastic team with diverse backgrounds and areas of expertise have come together to build Arket," said Managing Director Lars Axelsson in an official statement. "We're very excited to soon reveal the brand and share our collections with customers." Based in Södermalm, Stockholm, Arket's head office, studio and team is comprised of designers, buyers and pattern makers, as well as architects, writers and chefs.
Arket's first flagship will open in the early fall on Regent Street in London, replacing Banana Republic's former outpost, followed by additional locations to open across Europe, including Copenhagen, Brussels and Munich. Selected stores will also feature café with a menu focused on New Nordic Kitchen cuisine. Its website will launch by fall and be available to shop within 18 European countries.