Hennes & Mauritz Ab (H&M) had announced plans to launch its ninth brand during its nine-month report to August 31, 2017. Now in an interview with The Cut, the brand's creative director Oscar Olsson has revealed that the new label Nyden — which combines two Swedish words, “ny” and “den,” meaning “new” and “it” respectively will be launched in early 2018.
Olsson told The Cut that rather than having one big-name designer, Nyden will engage with hand-picked “tribe leaders,” to “co-create” the clothing range. He comfirmed that the tattoo artist Doctor Woo, who has 1.3 million Instagram followers, as well as the Swedish actress, Noomi Rapace are already on board to work on the new line.
Olsson began his stint at H&M four years ago in the company’s global expansion arm and was later appointed head of H&M’s Innovation Lab, reporting to the company’s CEO, Karl-Johan Persson.
The new brand will not be a fast-fashion one and will not follow trends, seasons, or the Fashion Week calendar and its “affordable luxury” price points will also depend on the products on offer, he informed.
The company's will unveil its new label at a time when the its sales are struggling compared to its rivals such as Primark and Zara. For the fourth quarter of 2017, H&M sales excluding VAT decreased 4 percent compared to the corresponding quarter last year. In local currencies, sales decreased by 2 percent. The company said that in order to respond even quicker to customers’ fast-changing behaviour, the H&M would close more stores.