Oscar Olsson, the managing director of H&M’s new millennial focused brand /Nyden, has stood down it has been announced.
Olsson, who had been with H&M since 2013, was revealed as the head of the project, which will create limited edition collections with fashion and cultural influencers, at the end of last year.
In a brief statement the global fashion giant said of his departure: “Oscar Olsson, responsible for the Nyden project will not continue at Nyden from July and we are working on appointing a new manager.”
/Nyden has only just begun its launch proper with Drop 1 now live on its site, while a pre-launch collection of t-shirts sold out earlier this Spring. It has revealed its collaborators so far will be tattoo artist Doctor Woo, actress Noomi Rapace, German international footballer Jérôme Boateng and singer Dua Lipa.
The plan is to sell the product online-only or at special events, while the designs will be created at /Nyden’s design centre in Los Angeles, using a vault of constantly evolving but pre-developed fabrics, which have been designed according to data gathered by H&M on what works and what doesn’t.
This approach should lead to product being developed in around three to four weeks, while drops will be limited and prices will sit in the “affordable luxury” space.
The project has always seemed like a niche and experimental one for H&M, which has recently had to grapple with issues at its flagship brand as it evolves to cope with the shift to online retail and ensuring its product remains relevant. Last season it was hit with an enormous stockpile of unsold stock, in part due to unfavourable weather, but also, the brand admitted, to its product not hitting the mark with the consumer.