Fashion retailer Hennes & Mauritz AB said Thursday it has signed a deal to buy privately owned Swedish fashion company Fabric Scandinavien AB, maker of Cheap Monday jeans. H&M said it has bought a 60 percent stake in Fabric Scandinavien for 564 million kronor ($92 million) from the founders of the company, Adam Friberg, Lars Karlsson, Orjan Andersson and Linda Friberg. It also has the possibility to acquire the remaining stake within three to five years.Apart from designing Cheap Monday jeans, Fabric Scandinavien also runs the store chains Weekday and Monki in Sweden. (AP/Business Week)