A brand consultancy Interbrand announced that Swedish fashion SPA Hennes & Mauritz (H&M) has emerged as the top European retail brand.

French supermarket chain Carrefour comes in second place, followed by Swedish furniture giant Ikea.

Interbrand said, "Retail brands were judged by business environment consciousness as well as products and services. Our study shows the real value of brands making efforts to improve the business and the brand."

Interbrand valued H&M's brand at 10.37 billion euros, Carrefour's brand at 6.62 billion euros and Ikea at 6.22 billion euros, followed by the U.K.'s supermarket chain Tesco at 5.32 billion euros and another U.K. major retail company Marks& Spencer at 5.10 billion euros.