The glossy white paint is still damp on the fabulous disco-inspired window display at H&M’s flagship on Oxford Street. Outside, there’s an air of feverish anticipation. “I want the one-shouldered dress in leather!” cries a thirtysomething woman, transfixed by the knee-length number suspended in the window. A bespectacled Italian lady, nose pressed against the window, inspects the faux snakeskin-trimmed oversized handbag and declares: “I like it.” “I own three real pairs and I’m buying two of these,” says another, staring covetously at some vertiginous studded gladiator sandals.