Budget fashion chain H&M opens U.S. online store

NEW YORK - OCTOBER 23: TEEN VOGUE'S Fashion University students attends TEEN VOGUE'S Fashion University H&M Shopping Party at H&M Boutique on October 23, 2010 in New York City. (Photo by Joe Kohen/Getty Images for TEEN VOGUE)
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STOCKHOLM After several delays, Swedish budget fashion chain Hennes & Mauritz AB on Thursday launched its online sales operations in the United States.

H&M said everything that is available in its high street stores -- that's Main Street to U.S. shoppers -- will also be sold online.

The online store, which was initially planned to open in 2012, will also feature some clothes that are exclusive to Internet customers and the company's home decor collection H&M Home.

Daniel Kulle, U.S. president for H&M, said he was "thrilled to launch online shopping in the U.S."

"This significant milestone fully rounds out H&M's multichannel offering," he said.

H&M's 268 stores in the U.S. brought in revenue of 3.3 billion Swedish kronor ($503 million) in the second quarter, an increase of 2 percent compared with the same quarter a year ago.

The company's online store has previously been available in only eight European countries.

Chief executive officer Karl-Johan Persson earlier this month said he sees "great potential in the growing online market" and that the global rollout of the online store will continue in 2014.