H&M Considering Higher-Priced Clothing Line (Report)

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Is H&M making a move onto Hollywood's major awards red carpets? 

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The Swedish-based retailer, perhaps inspired by working with luxury designer labels like Versace and Marni, is considering a higher priced  -- perhaps even luxury -- clothing line, according to Women's Wear Daily (via the Huffington Post).

Designer Behnaz Aram, who formerly designed for the Swedish women’s ready-to-wear label Whyred, is said to be involved; Aram was recruited to H&M’s new business design team in August 2011 and works on the brand's COS, Monki, Weekday and Cheap Monday labels.

POST: Michelle Williams Wears H&M to the BAFTA Awards in London

H&M is coy, but not totally mum, on the topic of a luxury line: "We are constantly looking at new ideas; it's a natural part of our work," spokesperson Charlotta Nemlin teased. "However, there is nothing new that we can talk about for the moment."

VIDEO: Trish Summerville Reveals Secret H&M Connection to 'Girl With The Dragon Tattoo'

Viola Davis recently donned a pink number by the forthcoming H&M line Exclusive Conscious, while My Week with Marilyn Oscar-nominee Michelle Williams made a bold statement in an H&M custom-made, two-piece gown at this year’s BAFTAs. A recreation of Williams' gown will be available in select stores upon the Exclusive Conscious launch.

What do you think? Will H&M be the new designer on Hollywood's red carpets in 2013?