Swedish clothing company Hennes & Mauritz plans to launch a long-awaited internet site in the US this August.
The decision comes amid a global sales push that will also see H&M extend its presence in China. The company said online stores help boost sales volumes in markets where it is already present on the internet.
The plan was confirmed after much speculation over when the chain would launch an internet business in the US. The FT reported its chief executive Karl-Johan Persson saying the internet presents 'enormous potential.'
But the Wall Street Journal said the company has been concerned that huge sales volumes in the US would make the operation difficult to set up.
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