H&M Launching a Luxury Brand?

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After collaborating with Marni--as seen on Drew Barrymore at the launch party--H&M's parent company is reportedly looking to launch a luxury label of its own.

After its recent dalliances with Versace and Marni and the launch of its red carpet-worthy Conscious collection, H&M appears to have developed a taste for the finer things in life.

Now, the Swedish retailer's parent company, Hennes & Mauritz—which also owns COS and Cheap Monday—is rumored to be gearing up for the launch of a luxury label, Women's Wear Daily reports.

Swedish financial journal Dagens Industri was the first to report on the possible expansion, which H&M has yet to confirm or deny.

"We are constantly looking at new ideas; it’s a natural part of our work," spokeswoman Charlotta Nemlin says. "However, there is nothing new that we can [talk] about for the moment."

The line will reportedly carry a higher price point than COS, with former Whyred designer Behnaz Aram said to be heading up the design.

Stay tuned as details surface ... and maybe set some krona aside just in case?