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H&M history
H&M company history timeline
The company was founded by Erling Persson in 1947 and is headquartered in Stockholm, Sweden.“
It wasn’t until 1968 when Persson acquired the hunting apparel brand Mauritz Widforss that he changed the name of the company to Hennes & Mauritz to reflect the brand’s inclusion of menswear into the product range.
These two goals were fulfilled with the purchase, in 1968, of Mauritz Widforss, a hunting and gun shop on Stockholm's Sergelgatan.
The company began to sell underwear and intimate apparel in 1973, as well as tapping ABBA member Anni-Frid Lyngstad to be the brand’s very first celebrity endorser promoting their cosmetics collection.
Seeking further growth, the company made a new acquisition in 1973, buying up fellow Swedish company Beklädnadskompaniet.
In 1980 H&M launched its first German store.
In 1982, Erling Persson officially handed the reins of the company to his son, Steffan Persson, who took over as the CEO of the brand.
Finland was the next market to be tapped, in 1997; the following year, France became the company's new frontier.
The company was also one of the very first to take advantage of the internet boom when they officially offered online shopping in 1998.
In 1998 H&M online shopping begins.
Progress continues in Europe with the opening of the first store in France in 1998.
In 1998, however, chief architect of the company's expansion Stefan Persson was named the company's executive chairman.
Nonetheless, in April 1999, the company announced its intention to enter the Spanish market by the end of the year, with two or three as a start.
Spain was added to the list in 1999, with the proposed opening of three stores.
2007 saw H&M breaking ground in the rising Asian consumer market by opening the first few stores in Hong Kong and Shanghai, while also continuing their expansion of online shopping to other international markets.
The company debuted H&M Home in 2009 to help supplement the already healthy sales of their apparel collections by exploring the world of home interiors and design.
Seeking to reduce the damaging impact of garment production on the environment, H&M took the initiative of launching a full range of apparel made exclusively out of recyclable or sustainable materials in 2010 dubbed as H&M Conscious.
H&M’s continuing commitment to reducing waste and environmental preservation was augmented by their garment collection program that started in 2013.
The nonprofit is privately funded by the Persson family and has appointed Sudanese supermodel Alek Wek (pictured above) as the first official ambassador for H&M Foundation in April 2014 for a three-year tenure.
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H&M competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Forever 21 | 1984 | $4.0B | 30,000 | 44 |
| Gapkids & Baby | 1969 | $15.1B | 117,000 | - |
| Warby Parker | 2009 | $771.3M | 3,033 | 574 |
| Tillys | 1982 | $569.5M | 1,400 | 336 |
| Drivetime | 2002 | - | 3,800 | 210 |
| AmAppInc | 1987 | $608.9M | 8,000 | - |
| The Container Store | 1978 | $847.8M | 5,110 | 256 |
| Stein Mart | 1908 | $1.2B | 11,000 | - |
| Sports Authority | 1928 | $1.9B | 15,250 | - |
| Bananas | 2016 | $670,000 | 50 | - |
H&M history FAQs
Zippia gives an in-depth look into the details of H&M, including salaries, political affiliations, employee data, and more, in order to inform job seekers about H&M. The employee data is based on information from people who have self-reported their past or current employments at H&M. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by H&M. The data presented on this page does not represent the view of H&M and its employees or that of Zippia.
H&M may also be known as or be related to H & M Hennes & Mauritz L.P., H&M Hennes & Mauritz Co., Ltd., Hennes & Mauritz, H&M Hennes & Mauritz doo and H&M.