Arket is due to launch on Londons Regent Street this autumn, with an online roll out in 18 European markets

Arket is due to launch on London's Regent Street this autumn, with an online roll out in 18 European markets

Swedish fashion group Hennes & Mauritz (H&M) has revealed it will open its first Arket store in Stockholm next year, following openings in London, Brussels, Copenhagen and Munich later this year.

Located at Biblioteksgatan 9, in the heart of Stockholm's shopping district Bibliotekstan, the store will also include a café based on the New Nordic Food Manifesto and is earmarked to open in the spring of next year. 

H&M first unveiled plans for Arket in March. The modern-day market brand, which will operate at a slightly higher price segment than H&M, with an emphasis on materials, function and fit, will sell what CEO Karl-Johan Persson calls "essentials" for men, women and children and will be supported by a selection of external brands.

H&M to launch new Arket brand amid Q1 profit fall

The concept is quite unlike anything previously seen from the retailer. Rather than adopt a faster sourcing strategy, H&M has opted to introduce a new brand to cater to shifts in consumer behaviour and progress towards a more sustainable business model.

What Arket reveals about H&M's new direction

"We are very fortunate to be opening our first hometown store on Biblioteksgatan, where we'll find ourselves in great company," says managing director Lars Axelsson. "The Stockholm Arket store opens spring 2018, but the brand will be present online in Sweden as well as 17 other countries from the first day of our launch on Regent Street in London this autumn."

H&M recently revealed it will open a second UK location for Arket later this year.

H&M reveals plans for second Arket UK store