Because the traditional fashion industry does a lot of patronizing head-shaking where gossipy new media (blogs, Twitters, forums, all of us) are concerned, it always feels like something of a holiday when a WWD-born rumors proves false.
Fashion bible or no, WWD is a little overeager where hearsay is concerned: recent speculation that Raf Simons and Marc Jacobs would take the helm at Dior might have been propped up by blogs, but both rumors originated at WWD — and both were later overturned. The trade publication does have unparalleled access to the goings-on behind the fashion scenes, but like the rest of us, WWD isn't immune to getting things wrong.
Earlier this week, the outlet reported on the possibility that H&M was planning to launch a luxury line. Today we learn the news was only half-true: the company is developing a new standalone brand at a higher price point (similar to its Cos label), but it won't be a luxury brand.
WWD confirmed the new brand early this morning, and after earlier speculation that H&M would introduce a luxury line, the Internet spent several hours being pretty convinced that the initial rumor had been fully borne out.
But then an H&M spokesperson stepped in to clarify the details of the upcoming new line. She told Fashionologie:
"A new store chain will be launched in 2013 under a separate brand with a higher price point. It will not be a luxury brand, but it will be a retail chain that will follow the same ambition as H&M, to offer our customers the best price for a comparable item."
So there you have it. It sounds like the new brand will be a more expensive, better quality version of H&M, offering on-trend items inspired by the season's most covetable designer fashion, but crafted with pricier fabrics and more sophisticated techniques.
Image via H&M