H&M

H&M has settled on a name for the new higher-priced retail chain it's planning to open in 2013.

Hacan Andersson, a press officer for the Swedish-based retailer, told AFP's Relaxnews "it is correct that H&M will launch a new chain in 2013 called & other stories, but this is all the available information we have as of today."

That's what many speculated the new chain would be called — the Swedish newspaper Dagens Nyheter reported last week that a Swedish firm registered trademarks on & other stories in 2012, citing Camilla Emilsson-Falk, head of media relations for H&M, as the source of the information. Until today, however, the company had kept mum about what the chain would be called.

H&M announced that it would be adding a higher-priced retail chain to its stable of brands — which includes Cos and Cheap Monday — last week. A spokeswoman told Fashionologie that the chain "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."

With Coachella 2012 just around the corner, we can't wait to check out the festival fashion firsthand. What's more, thanks to our friends at H&M, you can join in on the fun and enter for the chance to win Coachella festival passes! Share your festival inspiration on Instagram with the hashtag #hmcoachella to enter. Then vote for your favorite Instagram entries here because the photos with the most likes will win tickets! Hurry because the contest ends at 9 p.m. EDT on Sunday, April 1.

1. Follow FabSugar and H&M on Instagram for festival inspiration.

2. Post an Instagram photo relating to the theme of music festivals with the hashtag #hmcoachella in the caption.

Then be sure to vote for your favorite Instagram entries here because the top six photos with the most likes on HMCoachella.com will receive a pair of tickets to the festival! From those six winners, FabSugar and H&M will select one winner to win airfare, hotel accommodations, Coachella VIP tickets, and the opportunity to be "Official Instagrapher" at the festival.

And don't forget to stay tuned to FabSugar for the latest in festival style.

There's going to be more reason to love H&M soon. Today, the retailer just confirmed that it will be launching a new retail chain in 2013. "We have many different projects in progress and already next year we will be launching a completely new store chain. Like COS [a higher-end line also owned by Hennes & Mauritz AB], which today is very successful with good profitability, the new chain of stores will be independent and complement the other offerings from the group," said H&M CEO Karl-Johan Persson. Details are to be determined but there have been rumblings that the new clothing line will fall in the luxury category. We love H&M's affordable wares, but a new, higher-end line sounds just as exciting. What are your thoughts?

Days after rumors circulated that it would open a new luxury fashion label, Swedish retail giant H&M has confirmed that it's planning to open a new brand in 2013.

While the company wouldn't characterize exactly what price range the chain will occupy, CEO Karl-Johan Persson said in a press release that the new chain is part of a plan to secure H&M's future as a major player in retail.

"We have many different projects in progress and already next year we will be launching a completely new store chain," Persson said. "Like Cos, which today is very successful with good profitability, the new chain of stores will be independent and complement the other offerings from the group. We have great faith in this new brand and we see considerable potential for further initiatives."

Cos is the highest priced and most fashion-oriented of the many brands H&M owns and operates, and if that's the brand that compares best with the new business, it's possible that next year will see the launch of the rumored luxury line.

Rumblings of an H&M-backed luxury line started over the weekend after the Swedish financial newspaper Dagens Industri reported that the company would venture into high-fashion territory. Representatives for H&M did not respond to requests for more information about the new line by the time of this post.

Update: An H&M spokeswoman told Fashionologie that the new brand will cost more than H&M, but is not being classified as a luxury label. "A new store chain will be launched in 2013 under a separate brand with a higher price point," she said. "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."

>> H&M, the Swedish company known 'round the world for its well-priced fast fashion, is said to have a much more luxurious — and much more expensive — line of clothing in the works.

Swedish financial newspaper Dagens Industri reported Friday that the company would expand into new territory with a clothing label designed by Behnaz Aram, the head designer at H&M New Business. The New Business concept oversees brands like Cheap Monday and Cos, which makes the highest-priced clothing the company currently sells — but the new venture is rumored to be "even more expensive and luxurious than Cos," according to the Dagens Industri story.

H&M spokeswoman Charlotta Nemlin told WWD Monday that new ideas are "a natural part of our work. However, there is nothing new that we can [talk] about for the moment."

But if the brand isn't going to create luxury fashion in-house, it certainly aligns itself with designers and brands who do. H&M has collaborated with everyone from Karl Lagerfeld to Marni's Consuelo Castiglioni, and celebrities like Michelle Williams and Kristin Davis have been seen wearing dresses from its Exclusive Conscious collection on the red carpet. H&M's main business isn't in luxury fashion, but adding a luxury line wouldn't be a stretch.

With Coachella 2012 just around the corner, we can't wait to check out the festival fashion firsthand. What's more, thanks to our friends at H&M, you can join in on the fun and enter for the chance to win Coachella festival passes! Every day for the next three days, H&M is giving away tickets to Coachella.

1. Like FabSugar and H&M

2. Post a comment on H&M's Coachella site telling us why we should take you and your friend to Coachella.

For more information on how to win, click here, and hurry because the contest ends at 10 p.m. EDT on Monday, March 26. Stay tuned to FabSugar for more chances to win Coachella festival passes!

With Coachella 2012 just around the corner, we can't wait to check out the festival fashion firsthand. What's more is, thanks to our friends at H&M, you can join in on the fun and enter for the chance to win Coachella festival passes! Every day for the next three days, H&M is giving away tickets to Coachella; just click on the Twitter button below to retweet the giveaway message and you'll be entered to win two 3-day tickets to Coachella! Get all the info on how to win here and hurry because the contest ends at 10:00 p.m. ET on Friday, March 23!