
H&M is owned by H&M Group (Hennes and Mauritz AB), a publicly traded Swedish company listed on Nasdaq Stockholm under ticker HM-B. Founded by Erling Persson in 1947 in Vasteras, Sweden, H&M Group operates over 4,300 stores in 77 markets and reported net sales of approximately SEK 236 billion in 2024. The Persson family holds roughly 45% of shares and over 70% of voting rights through a dual-class share structure.
| Brand | Parent Company | Ownership Type |
|---|---|---|
| H&M | H&M Group | Wholly owned |
H&M was founded in 1947 by Erling Persson in Vasteras, Sweden. Persson opened a single women's clothing store called Hennes, Swedish for "Hers." He had been inspired by a trip to the United States, where he observed high-volume, low-price retail stores. Persson applied the same concept to fashion: stylish women's clothing at prices well below traditional Swedish retailers.
The store succeeded quickly. Persson expanded across Sweden through the 1950s and 1960s. In 1968, he acquired Mauritz Widforss, a hunting and fishing equipment store in Stockholm. The acquisition added menswear to the product range, and the company was renamed Hennes and Mauritz, later abbreviated to H&M. This move transformed a women's-only retailer into a multi-gender fashion brand.
International expansion began in 1964 with a store in Norway, followed by Denmark and the United Kingdom. H&M went public on the Stockholm Stock Exchange in 1974, raising capital for further European expansion. Through the 1980s and 1990s, H&M opened stores across Europe, becoming one of the continent's largest fashion retailers.
H&M entered the U.S. market in 2000 with a flagship store on Fifth Avenue in New York City. The brand's combination of trendy designs and low prices resonated with American consumers. In 2004, H&M launched a collaboration with Karl Lagerfeld, creative director of Chanel. This partnership pioneered the concept of high-fashion designer collaborations with mass-market retailers. Subsequent collaborations with Versace, Balmain, Stella McCartney, and other luxury designers generated significant media coverage and customer queues.
The Persson family has maintained control across three generations. Stefan Persson served as CEO from 1982 to 1998 and as chairman for many years thereafter. His son Karl-Johan Persson became CEO in 2009 and stepped down in 2020, becoming chairman. Helena Helmersson succeeded Karl-Johan as CEO, becoming the first person outside the Persson family to lead the company.
In recent years, H&M has faced intense competition from ultra-fast-fashion online retailers, particularly Shein. The company has invested in e-commerce, sustainability initiatives, and new brand concepts including COS, Arket, and and Other Stories. H&M has also been closing underperforming stores while expanding in growth markets. In 2024, H&M Group operated over 4,300 stores across 77 markets.
H&M Group operates through multiple fashion brands and retail concepts, serving different market segments and price points across the global fashion industry. The company's business philosophy centers on providing fashion and quality at the best price in a sustainable way, balancing affordability with increasing environmental and social responsibility. H&M Group is known for its fast-fashion model, designer collaborations, and ambitious sustainability initiatives aimed at transforming the fashion industry.
The company maintains a global design, production, and retail network with over 4,700 stores across Europe, North America, Asia, and other regions. H&M Group generates approximately $22 billion in annual revenue and sells about 3 billion garments annually through its nine brand portfolio. The company invests heavily in sustainability, including circular fashion initiatives like garment collection programs, renewable materials, and ethical production practices aimed at reducing environmental impact.
H&M Group's competitive advantages include its global scale, brand recognition, supply chain efficiency, and ability to quickly adapt to fashion trends. The company has significantly expanded its e-commerce capabilities, with online sales representing a growing portion of total revenue. H&M Group has also invested in store modernization, digital integration, and technology to enhance the customer experience and operational efficiency.
The company faces challenges related to fast fashion criticism, supply chain transparency, and the need to address overproduction and waste in the fashion industry. In response, H&M Group has committed to becoming climate positive by 2040 and using only recycled or sustainably sourced materials by 2030, representing a significant transformation of its business model and supply chain practices.
H&M Group has set a goal to use 100% recycled or sustainably sourced materials by 2030. The company has increased its use of organic cotton, recycled polyester, and other sustainable materials in its product lines. Its Conscious collection features garments made with a higher proportion of sustainable materials.
H&M operates a garment collection program in its stores worldwide, accepting unwanted clothing for recycling or reuse. The company reports having collected over 25,000 tonnes of textiles since the program launched in 2013. However, the actual proportion of collected garments that are recycled into new clothing has been questioned by critics.
The company has committed to becoming climate positive by 2040, meaning it aims to reduce more greenhouse gas emissions than its value chain emits. H&M Group reports on Scope 1, 2, and 3 emissions through its annual sustainability reports and has set science-based targets for emission reductions.
H&M Group publishes its supplier list publicly, including factory names and addresses. The company maintains a supplier code of conduct and conducts regular factory audits. However, the fast-fashion business model, which depends on high-volume production and rapid inventory turnover, has been criticized by environmental and labor groups as fundamentally unsustainable.
In 2018, the Norwegian Consumer Authority criticized H&M for marketing its Conscious collection as sustainable without sufficient documentation, raising greenwashing concerns. H&M adjusted its marketing language in response. No independently verified sustainability certifications from recognized bodies (such as B Corp or Fair Trade certification for the H&M brand) have been confirmed as of August 2026.
H&M has faced several significant controversies related to labor practices, environmental impact, cultural sensitivity, and greenwashing allegations.
In 2018, H&M faced widespread backlash for an online product image showing a Black child model wearing a hoodie with the phrase "coolest monkey in the jungle." The image was widely condemned as racially insensitive. H&M removed the product and image, issued a public apology, and appointed a global diversity and inclusion leader in response. The incident led to temporary boycotts by celebrities including The Weeknd and G-Eazy, who ended partnerships with the brand.
H&M has faced ongoing criticism regarding labor practices in its supply chain. The company has been linked to factories in Bangladesh with poor working conditions and low wages. Following the 2013 Rana Plaza factory collapse in Bangladesh, which killed over 1,100 garment workers, H&M signed the Accord on Fire and Building Safety in Bangladesh, committing to safety inspections and remediation at supplier factories. H&M has reported completing remediation at most identified factories, though labor rights groups have criticized the pace of implementation.
In 2021, H&M faced backlash in China after expressing concern about reports of forced labor in Xinjiang's cotton industry. Chinese state media and consumers called for boycotts of H&M, leading to the brand being removed from major Chinese e-commerce platforms. H&M's sales in China declined significantly. The company later issued a statement saying it respects Chinese consumers and is committed to long-term investment in China, while maintaining its commitment to sustainable sourcing.
H&M has faced greenwashing accusations regarding its sustainability marketing. In 2018, the Norwegian Consumer Authority criticized H&M's Conscious collection marketing as misleading. In 2022, the Netherlands Authority for Consumers and Markets investigated H&M's sustainability claims. H&M has adjusted its marketing language in response to regulatory scrutiny but continues to face criticism from environmental groups about the fundamental sustainability of the fast-fashion model.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Authentic Brands Group | USA (ABG headquarters) | 1984 | Mass market | Global | All Genders | |
| Inditex | Spain | 1975 | Mass market | Global | Unisex |
Fashion ApparelOwned by Authentic Brands Group
American fast fashion brand owned by Authentic Brands Group; the U.S. retail operating company filed for Chapter 11 bankruptcy in March 2025 and closed all 354 U.S. stores.
Fashion ApparelOwned by Industria de Diseño Textil, S.A.
Spanish fast-fashion retailer and flagship brand of Inditex. Known for rapid design-to-retail turnaround and global store network across 96 countries.
Market Positioning: H&M competes with 2 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Fashion ApparelOwned by Authentic Brands Group
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