H&M facts for kids

Kids Encyclopedia Facts

H & M Hennes & Mauritz AB

H&M store on Fifth Avenue in New York City
Trade name	H&M Group
Type	Public (Aktiebolag)
Traded as	OMX: HM B
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=SE0000106270 SE0000106270]
Industry	Retail
Founded	1947; 78 years ago (1947) (as Hennes) Västerås, Sweden
Founder	Erling Persson
Headquarters	Stockholm , Sweden
Number of locations	4,801 stores (2021)
Area served	Worldwide
Key people	Karl-Johan Persson (Chairman) Daniel Erver (CEO and president)
Products	Clothing, accessories
Brands	COS Weekday Monki Other Stories ARKET
Revenue	US$24.8 billion (2019)
Operating income	US$1.8 billion (2019)
Net income	US$1.5 billion (2019)
Total assets	US$19.3 billion (2019)
Total equity	US$6.919 billion (2016)
Owner	Stefan Persson (28%)
Number of employees	107,375 (2021)

H & M Hennes & Mauritz AB, usually called H&M Group, is a big clothing company from Sweden. It's known for its fast-fashion clothes, which means they quickly bring new styles from the runway to their stores. As of June 2022, H&M Group had 4,801 stores in 75 countries. They also had over 107,000 employees.

H&M is one of the largest clothing retailers in the world. It was started by Erling Persson in 1947. Back then, it was just called Hennes. The current CEO is Daniel Erver.

History of H&M

The company began in 1947 when Erling Persson opened his first shop. It was in Västerås, Sweden. The store was named Hennes, which means 'hers' in Swedish. It only sold clothes for women.

In 1964, Hennes opened a store in Norway. In 1968, Persson bought a hunting clothes shop called Mauritz Widforss. This allowed H&M to start selling menswear. That's when the name changed to Hennes & Mauritz.

H&M became a public company in 1974. Its shares were sold on the Stockholm Stock Exchange. Soon after, in 1976, the first H&M store outside Scandinavia opened in London. H&M kept growing across Europe. In 1998, they started selling clothes online. Their first U.S. store opened in New York City in 2000. This started their expansion outside Europe.

Home Furnishings

In 2008, H&M announced they would start selling items for the home. These items were first sold online. Now, you can find them in special H&M Home stores around the world.

H&M Home section in an Antwerp store

Other Brands

H&M has launched other clothing brands. These include COS, Weekday, Monki, and Cheap Monday. These new brands came out as H&M expanded in Asia.

In 2009 and 2010, experts said H&M was one of the most valuable global brands. Its worth was estimated to be between $12 billion and $16 billion. H&M also partners with other brands. For example, they teamed up with Good American. This brand was started by Khloé Kardashian and Emma Grede. Their products are sold on H&M's websites in Sweden and Germany. In 2017, H&M also created a new store concept called Arket.

Store Openings Worldwide

By the end of 2011, H&M had 2,325 stores. By August 2012, they had grown to 2,629 stores. In September 2013, H&M opened its 3,000th store in Chengdu, China.

COVID-19 Pandemic Impact

In October 2020, H&M shared plans to close some stores in 2021. This was due to the COVID-19 pandemic. They closed 250 shops globally. Many of their sales moved online.

Withdrawal from the Russian Market (2022)

On March 2, 2022, H&M announced it would stop selling in Russia. This was because of the Russian invasion of Ukraine. H&M said they stood with people suffering in Ukraine. They also wanted to ensure the safety of their customers and staff in Russia. Russia was H&M's sixth-biggest market at the time. The company also closed its stores in Ukraine, which are still closed.

Where H&M Gets Its Clothes

H&M gets its clothes from many places around the world. The top three countries that supply H&M are China, Bangladesh, and India. H&M's main office is in Sweden. Here, 21 suppliers and factories make H&M's clothes and accessories.

H&M's Collaborations with Designers

H&M is famous for working with well-known fashion designers and celebrities. These special collections often sell out very quickly!

In November 2004, H&M offered a special collection by designer Karl Lagerfeld. People lined up, and the clothes sold out fast.
In November 2006, the company launched a collection by Stella McCartney.
Also in November 2006, they released a collection by Dutch designers Viktor & Rolf.
Pop star Madonna designed a collection with H&M in March 2007.
In November 2007, Italian designer Roberto Cavalli created a collection.
Finnish company Marimekko was a guest designer in spring 2008.
H&M worked with Comme des Garçons, a Japanese fashion label, in fall 2008. This collection included clothes for adults and kids.
For spring and summer 2009, British designer Matthew Williamson made two collections. He even designed menswear for the first time.
On November 14, 2009, H&M released a special collection by Jimmy Choo. It featured handbags, shoes, and clothes.
Sonia Rykiel designed knitwear and lingerie for H&M in December 2009.
French fashion house Lanvin teamed up with H&M in fall 2010. They made a collection called "Lanvin Hearts H&M."
For Spring and Summer 2011, H&M worked with fashion blogger Elin Kling.
H&M announced a collaboration with Versace in June 2011. It was released in November.
H&M announced a collaboration with Marni in November 2011. The campaign for this collection was directed by Sofia Coppola.

A dress from the Maison Martin Margiela for H&M collection, 2012

On October 4, 2012, Vogue Japan editor Anna Dello Russo launched an accessories collection with H&M.
On June 12, 2012, H&M confirmed a collaboration with Maison Martin Margiela. This collection came out on November 15, 2012.
Isabel Marant was a designer for fall 2013. She even made some men's clothes for the first time.
At the Coachella Valley Music and Arts Festival, H&M announced its first collaboration with an American designer, Alexander Wang. This collection was released on November 6, 2014.
Balmain was announced as the next collaboration in 2015. Pop star Katy Perry also sang the commercial soundtrack for H&M's Christmas campaign that year.
In November 2016, H&M released a designer line with Kenzo. That year, director Wes Anderson made H&M's holiday movie, "Come Together."
Swedish singer Zara Larsson designed a "playful, young, empowering" collection with H&M in February 2017.
After 20 years, Naomi Campbell worked with H&M again for a female empowerment commercial in fall 2017.
Designers Jeremy Scott and Moschino collaborated with the brand in April 2018.
H&M worked with designer Richard Allan in July 2019, bringing back a 1960s style.
The Fleur du Soleil collection, with Lebanese designer Sandra Mansour, was released in August 2020. This was H&M's first partnership with an Arab designer.
Irish designer Simone Rocha was announced as a partner in March 2021.

Sustainability and Environmental Awareness

H&M is working to be more environmentally friendly and sustainable.

Used Garment Vouchers

Since February 2013, H&M has offered vouchers for used clothes. You can bring in old garments, and H&M works with a company called I:CO to recycle them. The goal is to create a "zero waste" economy. This means using resources again and again so nothing is thrown away.

Protecting Endangered Forests

In April 2014, H&M joined other clothing companies like Zara. They changed their supply chain to avoid using materials from endangered forests. H&M teamed up with a group called Canopy. They want to make sure their fabrics like viscose and rayon don't harm old or endangered forests.

The H&M Foundation

The H&M Foundation is a non-profit group started in 2014. It helps fund projects that improve human and environmental issues in the fashion world. The Persson family, who founded H&M, put a lot of money into this foundation. One project is the Green Machine. This technology can recycle clothes in a similar way to how aluminum cans are recycled.

Since 2013, the family has given over $150 million to the foundation. In 2015, the H&M Foundation started the Global Change Award. This is a million-euro prize given each year. It helps new recycling ideas and technologies in fashion. In 2021, the foundation launched a virtual clothing collection. It showed off ten sustainable fashion startups.

Stopping Brazilian Leather Purchases

In September 2019, H&M stopped buying leather from Brazil. This was because of the 2019 Amazon rainforest wildfires. H&M said they would not buy leather until they could be sure it wasn't harming the Amazon rainforest.

Sustainability Ambassador

Actress Maisie Williams became a global sustainability ambassador for H&M in April 2021. She helps lead H&M's goal to use only recycled or sustainably sourced materials by 2030. She even appeared as a digital character in the video game Animal Crossing to teach about recycling.

Rental Clothing Service

In May 2021, H&M started a temporary service to rent out suits. Men could rent suits for up to 24 hours for job interviews. This service began in the UK and was also tested in the United States.

Concept Stores

Besides the main H&M brand, the company has six other unique brands. These are Afound, Arket, COS, Monki, Weekday, and & Other Stories.

COS

COS opened its first main store in London in March 2007. Its style is simple and modern. It takes inspiration from architecture and design. COS sells modern clothes for men and women. These clothes are designed to last longer than just one season. COS has stores in many countries and also sells online.

Labor Practices

H&M works to ensure good conditions for the people who make their clothes.

Working Conditions

H&M aims for safe and fair working conditions in all its factories. They have worked to improve safety in factories in countries like Cambodia and Bangladesh. They also work with labor groups to make sure workers are treated fairly.

For example, after a factory collapse in Bangladesh in 2013, H&M signed an agreement called the Accord on Factory and Building Safety in Bangladesh. This agreement helps make sure factories are safe for workers.

H&M is also working to address concerns about labor rights in places like Myanmar. They investigate reports and work with unions to ensure fair treatment for workers.

Fair Wages

H&M has committed to helping textile workers earn a "living wage." A living wage is enough money to cover basic needs. They set a goal to achieve this throughout their supply chain. This means they want all workers who make their clothes to earn enough to live comfortably.

Supply Chain Transparency

H&M has shared lists of factories that make their clothes. This helps make their supply chain more open and honest. It allows people to see where their clothes come from.

Cotton Sourcing

H&M has stated that they stopped buying cotton from the Xinjiang region. This decision was made due to concerns about worker conditions in that area. H&M wants to make sure their products are made without forced labor. They are a member of the Fair Labour Association (FLA). They are working towards fair living wages for all workers by 2030.