H&M has already partnered with luxury brands like Versace and Marni, but rumor has it the Swedish retailer is planning to create a high-end brand of clothing all on its own. So far the company is neither confirming nor denying the rumor, saying “anything is possible,” but already people are starting to speculate about what this new venture could mean for their favorite clothier.
What people love most about H&M is that its clothes are stylishly trendy and more than anything, affordable. A high-end brand means much higher prices but the success of the store’s novelty collections proves consumers don’t necessarily have a problem spending on quality. The question is will loyal shoppers buy in to the idea of quality that H&M will try to sell them? When you hear Versace, you know the purchase might be worth your entire tax refund, a luxury brand from a once totally budget-friendly retailer might not get the same reaction, especially when you know the dress you bought is only going to survive so many washes but since it cost 30 bucks or so, you don’t mind. If H&M thinks slapping a higher price on a “luxury” creation without upping its material is going to fly, they’re wrong,
The other part about a luxury brand is the exclusivity of it. Right now anyone could pop in the store and drop $100 and probably buy enough clothes to last them a week. Styles are mass produced and it’s not uncommon to fear someone else might have your outfit on when you’re rocking the brand. H&M would have to significantly limit the production of these high-end items to make people see the other value in buying high-end clothes—only so many people can afford it. Although I wonder if the people who have the cash to spend on this brand would even consider stepping inside the store for high-end fashion.