You might be surprised to learn that the people behind H&M are going to open a whole new accessories chain that will focus on affordable luxury goods rather than the much cheaper fast fashion in their main stores. I'd love to make an assumption as to what the stores will be like, but I honestly have no clue and am pretty excited to check them out.
Hennes & Mauritz’s (HNNMY) H&M apparel chain made its name churning out fun, cheap fashions—$9.95 skinny jeans, $12.95 polka-dot ballet flats—that are almost disposable. The Stockholm-based retailer counts on a continually changing assortment of rock-bottom-priced goods to help keep shoppers coming back for more. Now growing austerity in Europe is pinching even sales of low-priced apparel. But rather than cutting prices further, H&M is testing a higher-priced accessories chain called & Other Stories—yes, it starts with an ampersand—in a bet that budget-conscious shoppers will still spring for affordable luxuries such as a fancy scarf or a trendy lipstick shade. Read More