H&M coming to New Zealand

H&M in midtown New York. The clothing chain is known for hip, budget fashion. Photo / Getty Images

Popular retailer H&M has confirmed it will be opening a New Zealand store next year.

On its website, the company said New Zealand would be one of three new markets it was planning on entering in 2016, although it has not confirmed where or when it would be.

The multinational retailer is the second largest clothing retailer in the world and has more than 3500 stores in 57 countries, and is known for its affordable fashion offerings as well as collaborations with guest designers and celebrities.

H&M's planned New Zealand store opening follows the arrival of Topshop in Auckland in March this year, as well as a number of other retailers including Tiffany confirming expansion into New Zealand.

Tania Loveridge, centre manager at retailers organisation Heart of the City Auckland said she did not know where the new store might be.

"I'd say it's probably highly likely it would come to Auckland, it would be logical for them to come here," Loveridge said. "At the moment there's not a lot of space in the downtown development, there will be, but not until 2019 so they may know something we don't."

Loveridge said H & M "tend to have quite big flagship stores."