The words “affordable” and “luxury” hardly ever appear in the same sentence, but H&M is about to make this seemingly impossible combination a reality.
According to ELLE, the retailer is set to unveil an affordable luxury brand called “Nyden” that’s specifically targeted to millennial shoppers. Combing two Swedish words meaning “new” and “it,” ELLE reports that the line will “not follow trends, nor will it follow the traditional fashion calendar,” dropping new products on a limited basis and with varying price points.
Heading up the new brand will be Oscar Olsson, who ELLE says has been with H&M since 2013, most recently serving as head of their Innovation Lab that researched fashion’s future and the means by which people will shop in years to come.
With a specific rollout and pricing system, it should also come as no surprise that Olsson has a specific customer base in mind for Nyden: the “Netocrat.” ELLE says Olsson defined the term to New York Magazine as a shopper that is “more sensitive than ever to credibility, authenticity, and personality,” not to mention “exploitation of themselves or other people.”
So when is this new brand supposed to debut? ELLE reports that it will make its arrival in early 2018 and will only be sold “exclusively and via pop-up events.”