With this non-winter turning into spring, clothing retailers are finding their profits hurting from weak sales in boots and coats, and the pressure is on to make some gains. So brands are eyeballing those who are driving the growth in consumer spending — the affluent, of course.

One retailer that’s poised to take make serious gains in this segment is H&M. They have had wild success with high-end designers like Versace, creating exclusive lines for their stores, not to mention their Exclusive Conscious Collection that’s already being seen on the red carpet. And now whispers that H&M has been cooking up a master plan to open up a luxury chain are on the lips of fashion and retail industry websites. Rumored to be called “& Other Stories” this new store would adopt the H&M business model “fashion and quality at the best price,” but with better quality and higher fashion and prices. H&M exes have already drawn comparisons to COS, or Collection of Style, a chain by H&M. Cos’s prices start where H&M’s max out and is described as “high fashion attributes (meticulous fabrics finish and fit) with ground level pricing; creating inspirational design that’s financially accessible.”

While H&M’s new luxury brand won’t compete with higher-end luxury brands like Gucci and Burberry, the Michael Kors and Ann Taylors of the world should be shaking in their boots as the fresh and cool fashion of H&M steps up a tier.

You have to wonder: When everyone wants a piece of the luxury pie, who will gain market share, who will hold steady, and who will be squeezed out?