It’s one of our go-to destinations for reasonably priced basics, quirky bits of homeware and the odd pair of brightly coloured shoes.
And now H&M looks set to siphon off even more of our bank balances, with the announcement that the brand is launching a new “modern-day market” in London later this year.
Selling “essential products for men, women, children and home” the new shopping destination will offer both its own products, as well as pieces from non-H&M brands.
Products in the shop will also be slightly pricier than the usual H&M fare, with men’s shirts costing from around £33 to £98.
"The overall direction and focus is quality in simple, timeless and functional designs,” Karl-Johan Persson, chief executive and president of the H&M group, said in a statement.
“There will be products in a broad price range, however in a slightly higher price segment than H&M with emphasis on materials, function and fit.”
Called Arket, the new shop will also house a cafe selling “new Nordic” food and drinks, to keep you replenished while you browse.
Due to open on Regent’s Street in either late summer or early August, the store’s products will also be available to shop online in 18 European countries, and the brand hopes to open further stores in Brussels, Copenhagen and Munich.
“We really believe it’s relevant to a modern customer to bring different brands together — under one roof, under one channel — and to make that choice for them and also make it more convenient,” Ulrika Bernhardtz, Arket’s creative director, told Business of Fashion.
“The brand DNA is timeless, crisp, quality and warmth. Timeless is style beyond trend. And crisp is the counterpart to that: to be always relevant, modern and fresh.”
And it’s almost worth visiting for the name “Arket” alone, which means “piece of paper” in Swedish and, according to Bernhardtz, “symbolises the blank sheet, the sense of optimism and possibility we felt creating this new brand.”
Images: Rex Features/iStock