H&M today finally announced the name and type of new brand they are launching. This ends a period of gossiping among many media outlets about the new brand.
ARKET is Swedish for a sheet of paper, normally used when talking about high-quality paper. The first outlet will open in London with others following in Brussels, Copenhagen and Munich. It will be a higher priced product building on H&M's successes with Cos & Other Stories.
Source: FT.com