The new brand of stores from the Swedish fast fashion chain H&M is to be called & Other Stories, a spokesman confirmed.

The Swedish chain is to launch its new premium fascia, which will carry “slightly higher prices than H&M” next year.

H&M chief executive Karl-Johan Persson revealed it would launch the chain last week. He said the fascia would build on the success of Cos, its upmarket fashion store.

The group reported a 13% sales rise to 27.8bn Swedish kronor (ÂŁ2.6bn) in the three months to 29 February, however its margins were squeezed as it absorbed the rising cost of cotton and put on more special offers.

H&M saw particularly strong sales growth of 21% in the UK and said the it will be one of its fastest growing markets this year

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