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 (£2.6bn) 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