H&M
H&M Group · Sweden
H&M is the Swedish fashion retailer founded by Erling Persson in 1947 and the main brand of H&M Group, the world's second-largest international clothing retailer after Inditex. Listed in Stockholm and controlled by the Persson family, it is known for affordable fashion and high-profile designer collaborations.
| Founded | 1947, Västerås |
|---|---|
| Founder | Erling Persson |
| Owner | H&M Group (Persson family controlled, listed) |
| Headquarters | Stockholm, Sweden |
| Group CEO | Daniel Ervér (since 2024) |
| Group stores | 4,101 (2025) |
| Website | hm.com |
What is H&M?
H&M (Hennes & Mauritz) is a fashion retailer selling womenswear, menswear, childrenswear, beauty and homeware at low prices. It is the core brand of H&M Group, which also owns COS, Weekday, & Other Stories, ARKET and the resale platform Sellpy. The group is headquartered in Stockholm and has been led by chief executive Daniel Ervér since January 2024. Karl-Johan Persson is chairman, and the Persson family remains the controlling shareholder.
History
Erling Persson opened a women's clothing shop called Hennes in Västerås in 1947. In 1968 he bought the hunting apparel retailer Mauritz Widforss, added menswear and renamed the company Hennes & Mauritz. The company listed on the Stockholm Stock Exchange in 1974, opened its first store outside Scandinavia in London in 1976, began selling online in 1998 and entered the United States in 2000. In November 2004 its collaboration with Karl Lagerfeld started a long series of designer partnerships, including Comme des Garçons, Lanvin, Versace, Maison Martin Margiela and Simone Rocha.
Products and positioning
H&M sells trend-led and basic fashion for the whole family at value prices, alongside H&M Home and H&M Beauty. Its designer collaborations are used to create attention and bring a premium element to the brand.
Business model and distribution
H&M does not own factories; production is outsourced to independent suppliers, mainly in Asia, with China and Bangladesh among the largest sourcing countries. The group has been reducing its store base, from 5,076 stores in 2019 to 4,101 in 2025, while growing online sales. Distribution includes:
- Own stores across Europe, the Americas and Asia.
- Franchise partners in markets such as the Middle East.
- E-commerce in its own markets and on selected external platforms.
Why it matters
H&M is one of the two global leaders of fast fashion and a bellwether for the mass market. Its sustainability commitments, including the goal of using only recycled or more sustainably sourced materials by 2030 and its garment collecting programme, have shaped industry debate, while also attracting regulatory scrutiny of environmental marketing claims, for example from Norway's Consumer Authority.
Frequently asked questions
Who owns H&M?
H&M is the main brand of H&M Group, a company listed on Nasdaq Stockholm. The founding Persson family controls the group, with Stefan Persson holding the largest stake and Karl-Johan Persson serving as chairman.
What does H&M stand for?
H&M stands for Hennes & Mauritz. Hennes was the name of Erling Persson's first womenswear shop in 1947, and Mauritz came from the menswear retailer Mauritz Widforss, which he acquired in 1968.
