Swedish fashion retailer, H&M, will launch a new brand called Arket this year with the first store to open early autumn this year on Regent Street in London and online in 18 European countries.

The London store will be followed by stores in Brussels, Copenhagen and Munich.

According to the fast-fashion giant, the new brand will be a modern-day market, offering essential products for men, women, children and the home.

Ulrika Bernhardtz, creative director, said they picked the name Arket,which means ‘sheet of paper’ in Swedish, because it relates to both their origin in the Nordic tradition of functional, long-lasting design and symbolises the blank sheet, “the sense of optimism and possibility they felt when creating the new brand.”

The range includes men’s, women’s and children’s ready-to-wear and accessories collections and a homeware department – all part of the Arket range.

Stores will also include a cafe where location permits, the retailer stated. The cafe will be based on the New Nordic Kitchen and its vision of quality ingredients and healthy living.

“A fantastic team with diverse backgrounds and areas of expertise have come together to build Arket. We’re very excited to soon reveal the brand and share our collections with customers,” said Lars Axelsson, managing director.

According to H&M, Arket has worked closely with producers to select and develop materials and techniques that enable the brand to offer customers high quality and long-lasting products at an affordable price.