Wednesday, February 21st
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H & M
"Fashion for everyone - and always at the best price."
After establishing the clothing store ‘Hennes’, in 1947, Swedish businessman Erling Persson purchased the hunting and fishing store, ‘Mauritz Widforss’, hence the birth of 'Hennes & Mauritz', aka H&M. Persson’s goal is and was to offer a broad and varied selection of mens, womens, teens and childrens quality fashions at the best possible price. Persson wanted H&M to create basics, modern and high fashion designs that consistently reflect the most up to date international trends, therefore making his company accessible to all clientele.
In 1974, after many profitable years, H&M was listed on the Stockholm Stock Exchange. Two years later, in 1976, thanks to all their success the Swedish company branched out of the Nordic countries to open their first H&M store in London, England. The next year, in 1977, they expanded their collection by launching a cosmetics line. Expansions then continued during 1980s and 1990s starting with the opening of stores throughout all of Europe; at this time H&M also operates stores throughout North America, Asia and the Middle East.
In 2004 H&M began a series of collaborations with A-list designers and celebrities beginning with the legendary Karl Lagerfeld. H&M has since worked with Stella McCartney, Madonna, Roberto Cavalli, Matthew Williamson and Rihanna to name a few. In 2006 the company expanded yet again by offering internet sales to all markets. And a few years later, in 2009 H&M unveiled their new collection, H&M Home, with a line of bedding, pillows, towels and other textiles.
H&M operates 29 production offices, 20 sales offices and 2000 stores around the world, while their headquarters are now based in Stockholm Sweden. The company employs around 73,000 people, 100 of whom are in-house designers, buyers and pattern makers. H&M is the largest company on the Stockholm Stock Exchange with 183,000 shareholders. In 2004 H&M began a multi year collaboration with UNICEF (United Nations Children’s Fund), supporting efforts to improve conditions and prevent child labor in Uzbekistan. In 2008 they joined on with ‘Designers against AIDs'.