H&M's Launching a Whole New Brand—Here's the Good (and Bad) News

H&M is a fashion favorite for millions of people around the world, from celebrities on red carpets to Coachella fans, and the brand is only getting bigger. This fall, the fashion powerhouse is launching a new clothing and home brand called Arket. Prepare your wallets accordingly.

"The overall direction and focus are quality in simple, timeless, and functional designs," says CEO Karl-Johan Persson 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."

While we don't know too much about the actual clothing yet, we do know customers won't have to shop hungry. Some Arket stores will include cafés based on the healthy living–focused New Nordic Kitchen. But if you're excited to munch on snacks while you shop, you might need to wait awhile.

There are plans to open Arket stores in London and 18 European markets, but disappointingly, there don't seem to be any plans to open a New York (or even U.S.) location anytime soon. Major bummer.

Even if you don't live in Europe though, Arket should be available online, if you want to be ahead of the fashion curve, which does make up for it ever so slightly.

While you can't shop Arket just yet, you can bide your time by shopping H&M studio's collection straight off the runway below.

Arket won't be around until the fall, but if you can't wait, check out the latest H&M Conscious line, which is here just in time for wedding season.