H&M finally launches e-Commerce

One mega-retailer finally decided to join the 21st Century on Thursday - and frugal fashionistas everywhere are happily clapping their hands in response.

H&M announced around midnight that its online store in the U.S. is open for business. For the world's second-biggest fashion retailer, the launch comes far later than expected- though H&M is actively promoting its latest endeavor.

The Swedish retailer is holding a "50 States of Fashion" contest, asking bloggers to use Instagram to take photos of themselves in purchases, tagging their online looks in #HMShopOnlineXX. (Note: The XX stands for state abbreviations). Semi-finalists will be picked based on the most "likes" and the winner will get a $1,000 shopping trip to H&M - which in fast fashion dollars, stretches a long way - along with other goodies.

The Shop Online launch also coincides with H&M's debut of its "Home" line," which includes decor and accessories exclusive to e-commerce.

So yes, they're finally caught up. Visit the e-commerce site, here.