H&M Group has shaken up its retail model with the introduction of a new subscription-based beauty and fashion brand.
Dubbed Singular Society, the membership-only brand offers beauty, fashion and homeware products that are said to be priced at what they cost to make.
H&M has said the brand should be seen as a service to its customers.
In a statement to Cosmetics Business, H&M said: "In this subscription-based retail model products are being offered as a service towards the members, rather than a source of income, as in traditional retail.
"This is a new and innovative business model and H&M group looks forward to exploring it together with the Singular Society team.
"We believe that a carefully curated assortment with high quality products, sold at the price of what they cost to make, together with Singular Society’s passion for fulfilling the needs and preferences of its members, will make it appealing to beauty shoppers."
Photo credit: Gustaf Svanberg
The brand’s soft launch hit earlier this month and has opened its doors to a debut flagship store at Sweden capital city Stockholm.
Membership plans start on a monthly basis at €9.50 for five products or shoppers can opt for an annual subscription at €7.90 for a monthly cost.
Those with more appetite for consumerism can select 25 products a month with a Plus membership for €19.50 on a monthly basis or pay €16.30 monthly for an annual subscription.