Swedish retailer H&M is rumoured to be opening up stores in Sydney and Melbourne.

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H&M is reportedly scouting around for possible locations in Australia to set up shop.

The Swedish retail giant has pegged the Emporium site in Sydney and Chadstone Shopping Centre in Melbourne as possible opening sites, with chief executive of retail group 6one5, Bill Rooney, confirming that his real estate contacts have been approached by the company.

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“There is a big footprint there for the international retailers, and to have a tenant like H&M would be pretty awesome,” said Rooney.

Japanese retail giant Uniqlo, which has long been rumoured to open in Australia, is also reportedly scouting for locations, as are Abercrombie & Fitch and Forever 21. And in further exciting news, Victoria’s Secret has also thrown its name into the ring.

“It's believed US lingerie brand Victoria's Secret is also eying off Chadstone as a new possible retail location,” said radio station 3AW.

The international chainstores will join the likes of Zara and Topshop in Australia, both of which have enjoyed retail success since their respective openings last year.