Leading apparel retailer Hennes & Mauritz AB (H&M) could grow its number of new store openings by a third as part of an ambitious expansion plan, according to chairman Stefan Persson.

"To grow by 200 stores per year, from 150, I don't see that as a problem," Persson said in a weekend interview with Swedish publication Dagens Industri.

"It is possible that we will take the step to (Eastern Asia), for example to Japan.

"Russia is also a possibility."

Persson added that H&M expected to turn a profit from its United States operations this year.