By  on February 14, 2018

STOCKHOLM — As it seeks to respond to growing pressure from online pure players, Hennes & Mauritz AB said on Wednesday it expects online sales for the group to increase by around 20 percent per year in the next five years.

Releasing for the first time figure detailing its revenues from e-commerce and new businesses, the Swedish fast-fashion giant forecast online sales will total 75 billion Swedish krona, or $9.37 billion at current exchange rates, by 2022, versus 29 billion krona in the 2016-2017 financial year.

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