H&M is set to introduce a completely novel brand in 2017 according to a new announcement. CEO Karl-Johan Persson told Bloomberg that the new brand "will be completely different from H&M" as well as its sister labels.

At present the high street giant owns (along with its H&M stores worldwide) mid-range minimalist favourite COS, the beauty and accessories boutique concept & Other Stories, Monki, Weekday, and Cheap Monday. It also recently announced its plans to launch two new beauty brands later this year – more on that here.

Stay tuned for more news as this story unfolds...