H & M Hennes & Mauritz AB, is a Swedish clothing company, known for its fast fashion clothing offerings for women, men, teenagers and children. H&M has around 2,000 stores in 35 different countries and employs over 73,000 people.
History
The company was established in Västerås, Sweden, in 1947 by Erling Persson though at the time it only sold women's clothing and was called Hennes, Swedish for "hers." In 1968, Persson acquired the premises and inventory of a Stockholm hunting equipment store named Mauritz Widforss. Included in the inventory was a supply of men's clothing, prompting Persson to expand into menswear. Accordingly, he renamed the store Hennes & Mauritz, later abbreviated to H&M. Erling's son Stefan became CEO in 1990 and Chairman of the Board in 1998. Today the majority of H&M's clothing is manufactured in Turkey and Bangladesh.
H&M worldwide
H&M's first store abroad was opened in Norway. Then from 1964 onwards, H&M embarked upon a major expansion programme many further stores in Europe, including Portugal, the UK, Denmark, Switzerland and Germany. In the 1990s, the first stores opened in Finland, France, Belgium, Austria, Spain and the Netherlands. H&M has continued to expand its business and today H&M has an extensive network throughout much of Europe.
H&M opened its first US store in New York on 5th Avenue and 51st Street in March 2000. There are now 9 additional stores in Manhattan alone. As of January 2009, H&M has at least 169 individual stores in the United States. H&M opened its first Canadian store in March 2004. There are currently 48 stores in Canada, in Quebec, Ontario, Alberta, New Brunswick, Nova Scotia and British Columbia.
H&M opened its first Asian store (also H&M's first franchise) in Dubai in 2006. Kuwait was then followed by Dubai and opened at Salmiya at first. Two first Israeli stores will be opened in Tel Aviv and Jerusalem in spring 2010. H&M expanded into East Asia in March 2007, with its first store opening in Central Hong Kong on March 10, 2007. Kylie Minogue opened the first store in East Asia, where she also exclusively launched her range of swimwear, "H&M loves Kylie". First store was opened in mainland China in 2007. The first Japanese store was opened in Ginza on September 13, 2008, while a second store was opened in Harajuku in November 2008. Another store was opened in the Shibuya shopping district on September 19, 2009. H&M has signed an agreement to open its first store in South Korea. The store will be located in the best business location in Myungdong in Seoul and is planned to open during the spring of 2010.
On March 13, 2009 H&M launched their first shop in Russia in "Metropolis" mall in Moscow, which is situated near subway station Voykovskaya. And already in March 20, 2009 launched second shop in "MEGA" mall in Khimki. On October 22, 2009 third H&M store opened it's door in "MEGA" mall in Belaya Dacha. On 18th of October, 2009 was launched a shop in Europe's largest shopping centre "Golden Babylon" in Rostokino.
H & M also has plans to expand into South America with a focus on Brazil, though a specific date was not disclosed.
Although there are no H&M stores in Australia, in April 2007, pop superstar Kylie Minogue teamed up with H&M to introduce a swimwear line called, “H&M loves Kylie”, featuring a theme of Australia. “When we think of Australia and glamour, we think Kylie, who is such a stylish person,” H&M design head Margareta van den Bosch said in a statement.
