Fashion is undergoing a massive change — and H&M's struggles are proof

Nyden

• H&M's new millennial-focused brand, Nyden, launched online this week. 
• CEOKarl-Johan Persson wants to create the brand of the future — one that he believes does not follow trends or churn out endless different styles but sells a limited selection of "affordable luxury" clothing.
• This new label is the antithesis of H&M, and it speaks to the direction in which fashion is headed, casting doubt on whether H&M in its original form is still viable in the current apparel market.

After much anticipation, the H&M group launched its new, millennial-focused brand online on Tuesday. The new collection is currently in pre-launch and consists of eight different styles of men's and women's T-shirts costing $60 each. Several of the styles appear to have already sold out in the presale. 

Nyden — a portmanteau of the Swedish words "ny" and "den," meaning "new" and "it" — is the brainchild of Oscar Olsson, a 35-year-old, tattooed Swede who previously hailed from H&M's innovation lab and has worked for the group since 2013. See the rest of the story at Business Insider

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SEE ALSO: H&M is caught in a 'vicious cycle' of discounting, and now it's found itself with a mountain of unsold clothes