Key Stats
Hennes & Mauritz AB is a Swedish fashion retailer that sells clothing, accessories, footwear, cosmetics, and home textiles through multiple brands.
The company operates brands including COS, Weekday, Monki, and H&M Home. COS provides garments, shoes, and accessories for men and women through 50 stores and online shopping across Europe.
Weekday sells fashion under the MTWTFSS Weekday and Weekday STOREMADE brands while collaborating with independent designers. Monki offers graphic design fashion for young women.
Erling Persson founded the company in 1947 with headquarters in Stockholm, Sweden. The retailer has grown into the world’s second-largest clothing retailer after Inditex.
H&M History
Erling Persson opened the first store in Västerås, Sweden, selling women’s clothing. He named the store Hennes, meaning “hers” in Swedish.
The company expanded with a new Hennes store opening in Stockholm, establishing the brand’s presence in the Swedish capital.
The first international store opened in Norway, marking the beginning of expansion beyond Swedish borders.
Erling Persson acquired Mauritz Widforss, a hunting and fishing equipment store. The company began selling men’s and children’s clothing, changing its name to Hennes & Mauritz.
The company went public on the Stockholm Stock Exchange, providing capital for future growth and expansion.
The first store outside Scandinavia opened on London’s Oxford Street in the UK, entering the broader European market.
Impuls stores targeting teenagers launched. The company started selling cosmetics, diversifying its product range.
Stefan Persson, son of founder Erling Persson, became CEO and managing director, continuing the family leadership.
The first store in France opened, and online shopping launched at hm.com, embracing digital retail.
The first US store opened on Fifth Avenue in New York. Stores also opened in Spain during this year.
Designer collaborations began with Karl Lagerfeld, followed by partnerships with Stella McCartney, Viktor & Rolf, Madonna, and others.
Asian expansion started with stores opening in Hong Kong and Shanghai. The new concept store COS launched.
The first Japanese store opened in Tokyo. The company acquired FaBric Scandinavien AB, which owned Weekday, Monki, and Cheap Monday brands.
Stores opened in Russia and Beijing. H&M Home launched, expanding into home textiles and furnishings.
The company became the world’s largest consumer of organic cotton. Stores opened in South Korea and Turkey.
The first store in the southern hemisphere opened in Chile. A global clothing collecting initiative started in selected stores.
Daniel Ervér became CEO in January. The company reported improved profitability with operating margin reaching 7.4%.
H&M Co-founders
Erling Persson founded the company in 1947 after visiting the United States post-World War II. He was impressed by the efficient, high-volume stores and brought the concept to Sweden, establishing Hennes in Västerås. Persson died in 2002, leaving a legacy as a pioneer of affordable fashion retail.
H&M Revenue
The company’s revenue performance reflects its position as a global fashion retailer.
In 2024, revenue reached SEK 234.5 billion, showing steady growth in local currencies despite challenging market conditions.
H&M Competitors
The fast fashion market features several major players competing for market share.
These retailers compete on price, trend responsiveness, and global reach. Each brand has developed distinct strategies to attract customers in different segments.
| Company | Parent Company | Headquarters |
|---|---|---|
| Zara (Inditex) | Inditex | Spain |
| Uniqlo | Fast Retailing | Japan |
| Gap Inc. | Gap Inc. | USA |
| Primark | Associated British Foods | Ireland |
| Forever 21 | Authentic Brands Group | USA |
| Mango | Puna Fa, S.L. | Spain |
| SHEIN | Zoetop Business Co. | China |
| Abercrombie & Fitch | Abercrombie & Fitch Co. | USA |
H&M Acquisitions
The company has pursued strategic acquisitions to expand its brand portfolio and reach new customer segments. These acquisitions have helped strengthen its position in the fashion retail market.
In 2008, the company acquired 60% of FaBric Scandinavien AB for approximately SEK 544 million. FaBric Scandinavien operated the Weekday and Monki store chains and owned the Cheap Monday brand. The acquisition brought youth-focused brands into the portfolio, complementing the main brand’s offerings.
The purchase agreement included an option to acquire the remaining shares within three to five years. In 2010, the company exercised this option and purchased the remaining 40% for SEK 8 million, bringing the total investment to SEK 552 million.
FaBric Scandinavien had expanded from 20 stores to 66 stores across seven countries between 2008 and 2010. The founders Adam Friberg, Lars Karlsson, Örjan Andersson, and Linda Friberg continued working within the company after the acquisition.
Weekday positioned itself as an urban unisex concept with stores in Stockholm, Uppsala, Gothenburg, and Malmö. The brand emphasized design collaborations with independent fashion labels including Carin Wester, Bless, and Bruno Pieters.
Cheap Monday focused on denim collections for men, women, and babies, along with accessories, glasses, underwear, and shoes. The brand sold products in more than 1,000 stores globally at the time of acquisition.
Monki targeted young women with graphic design fashion and operated as both a store concept and brand. The acquisition aligned with the company’s strategy of reaching different customer segments through distinct brand identities.
These brands operated as separate concepts within the group, maintaining their unique identities while benefiting from shared resources in production, logistics, and international expansion. The group’s expertise in manufacturing and supply chain management supported the growth of these acquired brands into new markets.
In recent years, the company has streamlined its brand portfolio. Cheap Monday became dormant in 2018 before a minor comeback under the Weekday umbrella. In 2024, the company announced plans to close Monki stores and incorporate the brand into Weekday.
H&M Market Cap
Market capitalization reflects investor confidence in the company’s future prospects and financial performance.
As of 2024, the market cap stands at approximately SEK 286 billion, showing resilience despite retail industry challenges.
FAQs
What does H&M stand for?
H&M stands for Hennes & Mauritz. Hennes means “hers” in Swedish and was the original store name. Mauritz came from Mauritz Widforss, a hunting equipment retailer acquired in 1968.
Who founded H&M?
Erling Persson founded the company in 1947 in Västerås, Sweden. He was inspired by efficient American retail stores he observed during a post-war trip to the United States.
How many stores does H&M have worldwide?
H&M operates 4,253 stores globally as of November 2024. The number has decreased by 116 stores compared to the previous year as part of optimization efforts.
What brands does H&M own?
The company owns several brands including H&M, COS, Monki, Weekday, H&M Home, ARKET, and & Other Stories. It also operates Sellpy, a second-hand fashion platform.
Where is H&M headquartered?
The company headquarters are located at Mäster Samuelsgatan 46A in Stockholm, Sweden. The Persson family, descendants of founder Erling Persson, maintains majority ownership and control.