UPDATE, 3/29: H&M confirms to Women's Wear Daily that it will debut a new chain of stores in 2013 to "broaden its offering," although they stayed mum on any details about the price points or fashion of the new stores.
With the ongoing craze for low-priced designer collaborations, going high-end may seem like a counterintuitive business strategy. But H&M, the model purveyor of "cheap and chic" fast fashion, may be doing just that.
The Swedish retailer may be plotting a new luxury line with a higher price point, reports Women's Wear Daily. The line would likely involve Behnaz Aram, who currently runs "New Business" at H&M overseeing outside brands like Cheap Monday.
H&M neither confirmed nor denied any luxury plans. "We are constantly looking at new ideas," spokeswomen Charlotta Charlotta Nemlin told WWD, "However, there is nothing new that we can [talk] about for the moment."
But the step up to luxury wouldn't be too surprising given H&M's recent foray into red carpet dressing. The company has created an "Exclusive Conscious" collection of red carpet-ready looks, made from sustainable materials like organic cotton, hemp and recycled polyester in keeping with H&M's eco-friendly Conscious clothing initiative.
Michelle Williams and Amanda Seyfriend have both worn "Exclusive Conscious" collection pieces for red carpet appearances. Perhaps with a new luxury line, even more H&M will land on celebrities' backs?
Read more at WWD.com and sound off in the comments. Would you shop for luxury items at H&M? Or is the affordable price point, for both regular clothes and those alluring designer collabs, H&M's main appeal?