H&M to launch a luxury brand? Are Swedish high street store giant Hennes and Mauritz to launch a luxury brand of their own? Swedish high street giants Hennes and Mauritz, who own H&M, COS, Monki and Cheap Monday, are rumoured to be branching into a luxury line. The high street retailer has carefully forged ties with the luxurious side of fashion, releasing a string of hugely successful designer collaborations in their H&M stores with top names Stella McCartney, Jimmy Choo, Versace and Karl Lagerfeld. Their most recent of which, with Italian brand Marni, sold out nationwide in a matter of hours. But luxury brand would be a new venture altogether. IN PICTURES: Marni for H&M: Hollywood stars debut the collection Said to be involving designer Behnaz Aram, who joined the company's design team in August last year, the rumour, which has yet to be confirmed or denied, closely follows H&M's first foray into red carpet fashion when they designed a custom-made gown for Michelle Williams for the BAFTAs in January. It would also follow their Exclusive Glamour Conscious Collection - a collection of eco-conscious red carpet-worthy gowns which have already been debuted by the likes of Amanda Seyfried, Kristin Davis and Viola Davis - which launches in 100 stores worldwide on April 12. READ: H&M fuse eco-conscience with glamour for new Exclusive Glamour Collection All H&M will currently release is the following, somewhat ambiguous, statement: "We are constantly looking at new ideas; it's a natural part of our work. However, there is nothing new that we can [talk] about for the moment. Let the waiting game commence.