Swedish fashion retailer H&M unveiled a 31% rise in quarterly profits along with plans to launch a collection by Italian designer Roberto Cavalli. Financial Times
The 'Roberto Cavalli at H&M' collection will be available in 200 stores worldwide from November.
H&M opened 74 stores during the quarter and closed five, bringing the total number of stores to 1,420 at the end of May. It entered new markets, such as Hong Kong, Slovakia, Greece and Qatar.
The retailer plans to open another 95 stores during the rest of the financial year, mainly in the UK, the US, France, Spain, Germany and Italy.
It also plans to launch a home division later this year.