H&M/s fast fashion empire already has COS and a handful of other brands under its wing but, according to Bloomberg, the giant has plans to launch an entirely new brand very soon. H&M's CEO, Karl-Johan Persson, said that the new concept will launch as soon as 2017 and will be radically different from the current roster of in-house brands.

Now, aside from COS, H&M's other brands aren't that well known. They're on a much smaller scale than either of aforementioned heavy hitters. The most recently launched effort was & Other Stories, which opened in 2013. While H&M continues to the be the meat of the brand, there are also plans in the works to expand COS and & Other Stories. The wide spectrum of brands naturally allows the company to reach customers it might not have otherwise, but at the end of the day they all specialize in clothing and lifestyle items specifically.

Why a new brand would be need is a bit of a mystery. Perhaps H&M's looking to jump into another area that isn't clothing-related? It's really anyone's guess as to what they're up to next. Either way, it'll probably be cheap, which, as always, is much appreciated by the equally broke writers and readers of this site respectively.