The Swedish high-street fashion chain H&M is one of the world's 50 fastest growing retail companies, according to accounting firm Deloitte. Since 1998 H&M sales have increased by just over 16 per cent per year.

"H&M's success lies in a strong focus on clothes. Retailers who take on too many concepts have not been so successful," explained Lars Egenäs at Deloitte in Sweden.