H&M goes luxury
Swedish fashion powerhouse H&M announced plans to launch an innovative label called Nyden. Led by Oscar Olsson, who has been working at H&M since 2013, Nyden should fill a niche of “affordable luxury”. At the start of 2017, Olsson was appointed head of H&M’s Innovation Lab, reporting directly to the CEO, Karl-Johan Persson.
The label specifically targets millennial customers. Olsen describes his audience as "more sensitive than ever to credibility, authenticity, and personality".
Nyden's logo is simply a bold slash, symbolizing what the brand calls “co-creation.” Rather than having one big-name designer, Nyden will engage with these “tribe leaders,” whom Olsson hand-picks himself. Olsson plans to involve many influencers to co-create clothing.
The first of these collaborations will see the brand work with tattoo artist and Instagram star with 1.3 million followers Doctor Woo and Swedish actress Noomi Rapace.
The label will represent Olsson’s view of the future of fashion industry - no brands led by single creatives.
“In this future society, as any brand or any kind of provider of anything, you need to embrace the fact that the power is not in your hands,” Olsson said in the interview. “The power has shifted to what we call tribes.”
The clothes, including limited edition drops, will be available to shop online and at immersive pop-up events. The price range hasn't been revealed yet. But we can expect higher amounts than we used to see on price tags of the Swedish retail giant.