Swedish fashion chain H&M has been crowned Europe's top performing retail brand at The World Retail Congress in Barecelona this week, by consultancy firm Interbrand.

H&M ranked first in a poll that accounts for the brand's contribution to the business, Interbrand said, and was given a financial value of EUR10.366bn.

It beat market leading companies including Carrefour (EUR6.620bn), Ikea (EUR6.516bn), Tesco (EUR5.617bn) and M&S (EUR5.100bn) to the prize.

Interbrand global chief executive Jez Frampton said: "Retail brands provide the most comprehensive opportunities for brands to truly come to life.

"The scope of retail brands goes from the insights that create a robust brand strategy, into store design, engagement of your people and in many cases, the creation and supply of own label produce."