H&M
Description
H&M, officially known as H&M Hennes & Mauritz AB, is a renowned multinational fast-fashion brand in Sweden. Established in 1947 by Erling Persson, it began as a single women's clothing store named 'Hennes' in Västerås, Sweden. Over the decades, H&M has transformed into a global phenomenon known for its trendy and affordable clothing and accessories. With a strong emphasis on fast fashion, the brand caters to diverse customers seeking current fashion trends at accessible prices. H&M stands as the second-largest international clothing retailer, trailing only behind Inditex. As of June 2022, the H&M Group operates in 75 geographical markets with a remarkable footprint of 4,801 stores worldwide and employs over 107,000 individuals.
H&M's product line has significantly evolved since its inception. Initially focusing solely on women's clothing, the acquisition of Mauritz Widforss in 1968 marked the introduction of menswear, leading to the name change to Hennes & Mauritz. The brand's global expansion is notable, with its first store outside Scandinavia opening in London in 1976, followed by its first U.S. store in New York City in 2000. H&M has also delved into online retail, launching its website in 1998. Further diversification saw the company stepping into home furnishings in 2008, now available at H&M Home stores globally. Additionally, H&M's portfolio includes concept stores like COS, Weekday, Monki, and Cheap Monday, enhancing its market presence in various segments. Despite challenges during the COVID-19 pandemic, which led to the closure of 5% of its stores and a shift towards online operations, H&M continues to be a significant player in the fashion industry, offering a wide range of clothing and accessories for its global customer base.
H&M's product line has significantly evolved since its inception. Initially focusing solely on women's clothing, the acquisition of Mauritz Widforss in 1968 marked the introduction of menswear, leading to the name change to Hennes & Mauritz. The brand's global expansion is notable, with its first store outside Scandinavia opening in London in 1976, followed by its first U.S. store in New York City in 2000. H&M has also delved into online retail, launching its website in 1998. Further diversification saw the company stepping into home furnishings in 2008, now available at H&M Home stores globally. Additionally, H&M's portfolio includes concept stores like COS, Weekday, Monki, and Cheap Monday, enhancing its market presence in various segments. Despite challenges during the COVID-19 pandemic, which led to the closure of 5% of its stores and a shift towards online operations, H&M continues to be a significant player in the fashion industry, offering a wide range of clothing and accessories for its global customer base.