H&M to bring new labels to London

The Swedish fashion giant H&M is to bring three of its brands to the UK – in another boost to the UK's struggling retail market.

The young fashion brands Monki, Weekday and Cheap Monday are in talks with Carnaby Street owner Shaftesbury to take over a former Boots shop. But it is going head to head with a stateside fashion retailer for the coveted spot.

H&M, which also owns the more upmarket Cos, bought 60 per cent of the shares in the parent company of Monki, Weekday and Cheap Monday in 2008. H&M has around 2,300 stores globally. It has also agreed a deal to sell the Monki brand in Selfridges from next month.