H&M Hennes & Mauritz is rumoured to be preparing to enter the luxury market, with the launch of a clothing brand. 

The range will be more expensive than H&M's COS brand, according to Swedish newspaper, Dagens Industri. The report states that designer Behnaz Aram, who oversees new business, is believed to be responsible for the collection. 

A spokesperson for H&M told just-style today (27 March) that the retailer is looking at new ideas but could not confirm the rumours. 

The reports follow the launch of its Marni collaboration earlier this month. The range is available in around 260 stores and online and features clothing and accessories using the Italian label's inventive prints.

Earlier this month, H&M launched its Glamour Collection, which features apparel made from organic cotton and hemp as well as recycled polyester.