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H&M is to launch an online retail service in the UK by autumn 2010, according to reports.

The move by the Swedish fashion giant comes a week after rival Zara announced its own ecommerce plans (nma 17 September 2009).

The news came as H&M announced pre-tax earnings for the nine months to the end of August were up 4% to 4.77bn Swedish Krona (£431.4m).

H&M sales increased by 13% in the three months to the end of August, but fell 3% year on year.

Zara plans to launch its ecommerce site in time for its autumn/winter 2010 collection.

Earlier this month high street retailer Gap revealed plans to launch an ecommerce site in the UK (nma 10 September 2009).

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Published 24 September, 2009 by NMA Staff

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