Just In: H&M reveals the name of its Upcoming New Line!

H&M has settled on a name for the new higher-priced retail chain it's planning to open in 2013.

Hacan Andersson, a press officer for the Swedish-based retailer, told AFP's Relaxnews "it is correct that H&M will launch a new chain in 2013 called "& Other Stories", but this is all the available information we have as of today."

That's what many speculated the new chain would be called — the Swedish newspaper Dagens Nyheter reported last week that a Swedish firm registered trademarks on & other stories in 2012, citing Camilla Emilsson-Falk, head of media relations for H&M, as the source of the information. Until today, however, the company had kept mum about what the chain would be called.

H&M announced that it would be adding a higher-priced retail chain to its stable of brands — which includes Cos and Cheap Monday — last week. A spokeswoman said the chain "will not be a luxury brand, but it will be a retail chain that will follow the same ambition as H&M, to offer our customers the best price for a comparable item."