H&M to Launch Affordable Luxury Brand Nyden
After launching Arket, H&M announced that another brand is in the making. The company will launch Nyden, another affordable brand for millennials. The name of the brand combines the Sweedish words “new” and “it”. Surprisingly the brand won’t follow trends, seasons and the traditional fashion calendar. You’d think that millennials are all about fast fashion and trends, but Oscar Olsson, the mastermind behind the brand doesn’t agree with that theory. Oscar Olsson is the head of H&M‘s Innovation Lab that worked on this project. They used sociology, market research, and philosophy to discover the possible ways people will shop in the future. Based on these findings H&M created Nyden.
In this logo-obsessed fashion era, Olsson believes that in the future there will be “no such thing” as fashion brands in the traditional sense of the word. Furthermore, fashion will be broken into “tribes” where each tribe will have its own influential leaders. The brand’s logo is a simple slash which stands for co-creation. In fact, the “tribe leaders” will co-create the clothes they want to see in the world. Actress Noomi Rapace and tattoo artist Doctor Woo will be the first ones to test drive the role of “tribe leaders”. So, Nyden won’t have one designer, but influencers who don’t necessarily need to be popular on social media. The tattoo artist has 1.3 million followers on Instagram, but the actress is nowhere on social media. Anyway, she is known for her distinctive rebellious style.
The in-house philosopher Alexander Bard calls the future customer “Netocrat,” which might be a more advanced version of the millennial. Bard and Olsson have come to a different understanding of the Netocrat than the world believes.
“The Netocrat is more sensitive than ever to credibility, authenticity, and personality. They’re also more sensitive than ever to exploitation of themselves or other people,” Olsson told The New York Magazine.
Nyden’s products will be sold exclusively in pop-up shops and through e-commerce. The production process will take around 3-4 weeks, but according to Olsson, Nyden isn’t a fast-fashion brand. Nyden’s offerings are expected to make a long-lasting bond with the customer since the clothes will reflect the tribe leaders’ idea of co-creation. The price point is “affordable luxury” and will vary depending on the products and tribe leaders. The brand is set to launch in early 2018. Only time will tell if Olsson was right about his idea of the future of fashion.