After unveiling its recent streetwear collection, H&M has announced plans to launch an "affordable luxury" label called Nyden. The first release is expected to drop early this year.

Led by Oscar Olsson, Nyden—which combines the Swedish words "ny," meaning new, and "den," meaning it—will target the millennial and influencer generation by implementing collaborations with hand-picked influencers dubbed "tribe leaders." The first of which will be tattoo artist Doctor Woo, who will work on the brand's inaugural menswear release alongside Swedish actress Noomi Rapace.

Nyden follows the launch of H&M's other new label, Arket, last year. While Arket aims to provide wardrobe staples and homeware, Nyden's audience is said to be younger and savvier. It will target millennials, or "Netocrats" as Olsson calls them in an interview with The Cut. "The Netocrat is more sensitive than ever to credibility, authenticity, and personality," he said. "They’re also more sensitive than ever to exploitation of themselves or other people... It’s about creating tools that they can dance on top of; that they can be creative with; and that can enhance their relationship with other tribes."

Nyden is said to blend speedy design processes with pop-up events and e-commerce, tapping into the digital generation of young tastemakers. For more on the label, sign up to the brand's website for updates.

In other fashion news, Gosha Rubchinskiy unveils his Burberry lookbook.