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H&M

This Swedish fast-fashion retailer is known for its constantly changing merchandise, low prices and designer collaborations.

Vital statistics

  • 1947 Established
  • Public Type
  • > 10,000 Number of employees
  • $18.13 billion (2013) Revenue
  • Stockholm, Sweden HQ

Key people

  • Karl-Johan Persson President & Chief Executive

Company Snapshot

Company Snapshot

H&M Hennes & Mauritz AB (H&M) is a Swedish multinational retail-clothing company, known for its fast-fashion clothing for men, women, teenagers and children.

H&M exists in 53 countries and as of 2013 employed around 116,000 people. The first store was opened on the high street of Västerås, Sweden in 1947. It had 2,325 stores at the end of 2011 and 2,629 stores at the end of August 2012. It is ranked the second largest global clothing retailer, just behind Spain-based Inditex (parent company of ZARA), and leads over third largest global clothing retailer, United States based GAP Inc.

The design team in the company’s Sweden office controls the steps of production, from merchandise planning to establishing specifications, and production is outsourced to approximately 800 factories in Europe and Asia.

In 1946 the company's founder Erling Persson was on a trip to the United States and came up with the business idea of offering fashionable clothing at attractive prices. In 1947 he opened his first shop Västerås, Sweden "Hennes", which exclusively sold women's clothing. "Hennes" is Swedish and means "for her" and/or "hers". In 1968 the hunting apparel retailer Mauritz Widforss was acquired, which led to the inclusion of a menswear collection in the product range and the name change to "Hennes & Mauritz" (H&M). In 1998, the company successfully gained control over the initials "HM" for its Internet domain HM.com.

The brand architecture also consists of sub-brands COS (Collection of Style), Monki, Weekday, Cheap Monday, and & Other Stories.

Source: Wikipedia

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