The H&M news fans have been waiting for

Finally!

Fans of H&M, rejoice, you’ll soon have even more stylish clothes to choose from: the Swedish giant has just announced it’s launching a new brand.

Named ARKET (which means 'sheet of paper' in Swedish), it’ll ‘offer a broad yet selected range of essentials for men, women and children, as well as a smaller, curated assortment for the home’ according to CEO Karl-Johan Persson.

It will be slightly more premium than H&M in terms of price points, sitting somewhere between Cos and & Other Stories we imagine.

No images of the clothes have been released yet, but Persson says the designs will be ‘simple, timeless and functional’.

In any case, we won’t have to wait too long to shop it, as the first store will open on Regent Street in London this autumn.

The stores will be a little different to H&M ones too, as they will include a café for a more leisurely experience.

It’ll be based on ‘the New Nordic Kitchen and its vision of quality ingredients and healthy living’. A posher alternative to Ikea’s meatballs if you will.

H&M also owns high street stores Cos, & Other Stories, Monki, Weekday and Cheap Monday, and we’ve got a feeling ARKET will be just as popular.