H&M to launch a line by Roberto Cavalli
H&M announced that it had recorded a 31% rise in profits for the quarter. The company posted a profit of 5.134billion Swedish krona (approximately GBP372million) and its sales for the second quarter increased by 18% to 20.1billion Swedish krona. Sales have been below analysts expectations, partly due to the company’s M by Madonna collection that was not accepted well by consumers and was sent to the clearance racks in just a few weeks. The company also announced its intention of launching a collection by Roberto Cavalli for both men and women, whcih will be just a one time collection by the designer and will be available at 200 stores from November this year.