H&M Hennes Mauritz AB is a Swedish multinational clothing company specializing in fast-fashion clothes for women, men, teenagers and children. Its name is derived from the Swedish word for “fashion.” The company produces 3 billion garments per year and sells more than 300 million of its own designs each year. Its products are made of high-quality fabrics and are affordable to the average person.
Founded in 1947, Originally, H&M sold only women’s clothing. The company began expanding into other markets in the 1960s. It started exporting the low-priced concept to its neighbouring countries. By the late 1970s, the company offered clothing for almost every member of the family, from babies to teenagers. By 1978, the company also started selling clothing for men. It expanded its product offering and reinvented the company’s identity as an apparel brand.
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H&M is owned by the founding Persson family, who own 70 per cent of the company’s stock. Stefan Persson led the company’s expansion and was named executive chairman in 1998. Fabian Mansson has since taken over as managing director. The company has a history of changing hands and ownership. H&M is now the fifth largest company in the country. The Swedish company opened six stores in Paris in 1998 and six in France in 1999. In addition, H&M made its first foray into the United States in 1999.
After expanding into other countries, H&M began exporting its low-cost clothing concept to its neighbouring countries. Its expansion into Denmark and Norway began in the early 1970s, and by the late 1990s, it had reached SKr 13.5 billion, with almost 70 per cent of sales occurring outside of Sweden. In 1994, the company expanded into Germany, and it eventually became the largest single market. Its German business grew to double the size of the Swedish market within the next decade.
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H&M Hennes & Mauritz – AB provides a wide range of clothing and accessories for men and women. The company sells its products in retail outlets throughout Europe, as well as online and catalogue sales. H&M is also a leader in children’s clothing, offering stylish t-shirts, hoodies, and shorts. It is headquartered in Stockholm, Sweden.
Their popular items are designed for those who want to look good, but still have time to put some thought into the design. The company also produces homeware, including towels and linens. H&M is known for its affordable prices, and their quality also.
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Hennes & Mauritz aims to be the world’s leading fashion retailer. The company’s flagship brand, H&M, accounts for over 90 per cent of the company’s total revenue. The company generates over 30% of its revenue outside of Europe, while only 7% comes from North America. The company operates more than 5000 stores worldwide, with about half of them selling only H&M-branded apparel.
The company’s strategy is centred on “fashion and quality at the best price”. Its stores are closely controlled by its Stockholm headquarters, and all clothing is designed to adhere to a uniform, cohesive brand image. As a result, H&M is able to respond quickly to developing trends and break the traditional seasonal stock rotation. Read More