Financial details of the deal were not disclosed, but a spokeswoman described it as "a long-term partnership".

The arrangement is not exclusive, but it will make Clear Channel Outdoor H&M's "preferred partner" in territories where it operates.

The company is the world's largest outdoor media owner with nearly 1m panels in 49 countries.

The agreement will mean the companies will work together on the design, development and placement of billboards, signs and other outdoor elements.

Clear Channel Outdoor regional president Rickard Hedlund said: "Clear Channel occasionally do multicountry deals, but rarely as large and ambitious as this deal. As far as I am aware this is the largest since the global Coke deal of a few years back.

"H&M has demonstrated a long-term commitment to developing pioneering outdoor ad campaigns across multiple markets and we look forward to building on our strong relationship with H&M to further push the boundaries of our medium."