H&M swoops on Carnaby St

SWEDISH Fashion retailer H&M yesterday signed for the first UK stand-alone stores for its Monki and Cheap brands on London’s Carnaby Street.

West End property company Shaftesbury has let its two newly-built stores for a ten year term, which will produce a total rental income of £965,000 per year.

Last month H&M took full control of FaBric Scandinavien, the owner of the girlswear brand Monki and Cheap Monday, a jeanswear brand which is sold in almost 40 countries and 1,800 stores, including Selfridges.