PARIS – Roberto Cavalli is the new friend of Hennes & Mauritz.
The Swedish fast fashion retailer on Wednesday said Cavalli will design a one-off women's and men's collection to be sold in 200 H&M stores beginning Nov. 8.
H&M revealed the tie up as it said more stores and hot sales of designs by pop icon Madonna lifted second-quarter profit 31 percent to 5.134 billion Swedish kronor.
But the Swedish fast-fashion giant missed analysts’ consensus expectations and said same-store sales in May dropped 2 percent. Its stock lost more than 3 percent in early morning trading on the Stockholm Bourse.
H&M said sales for the three months through May improved 18 percent to 20.05 billion kronor, helped by the M by Madonna line that was launched in March.
Pop chanteuse Kylie Minogue also appeared in H&M advertising for swimwear during the period. H&M said it would open another 95 stores before year-end. At the end of the quarter, H&M had 1,420 stores.
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