It was reported earlier and rumors were swirling around that H&M wants to start its own luxury brand. While there’s no confirmation that the price point of its new project is going to hit around the high-end, the Swedish brand confirmed that it will definitely be opening a new chain of retailers around 2013. H&M CEO Karl-Johan Persson announces that the “stores will be independent and complement the other offerings from the group.” Is everyone willing to spend a little more if it does end up being luxury prices? [wwd]

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