Karl-Johan Persson, H&M's chief executive officer, has said that he is eyeing store locations in South America and Australia, which would mark H&M's debut in the Southern Hemisphere. Uniqlo and Superdry have announced expansion plans, as well.

At the moment, H&M has 2,000 stores and is Europe's second-largest clothing retailer. Its competitor, Inditex, opened a store in Brazil in 1999 and has almost double the outlets worldwide as H&M.

Fast Retailing intends to open 1,000 large-scale Uniqlo stores in China within the next 10 years. It entered the market in 2002 and has 64 stores there.

Meanwhile, U.K. brand Superdry has revealed plans to add at least 20 more stores each year and expand in the U.S., Asia and the Middle East. Sales almost doubled over the past year despite the global recession, and the brand is a favorite of celebrities. Superdry is owned by Supergroup, which listed shares on the stock market in March, becoming the first retailing company in Britain to do so since the financial crisis started in 2007.