H&M Group (Hennes and Mauritz AB)

What does H&M Group own?
H&M Group owns seven retail brands: H&M, COS, Monki, Weekday, Arket, Other Stories, and Afound. The group also operates Sellpy, a resale platform, and H&M Home, a home furnishings line. The company operates approximately 4,000 stores worldwide and sells products online in all of its markets.

Is H&M Group publicly traded?
Yes. H&M Group is listed on Nasdaq Stockholm under ticker HM-B. The company has been publicly listed since 1974. The Persson family holds a controlling interest through a dual-class share structure in which their A-shares carry ten votes per share compared to one vote per share for the publicly traded B-shares. This gives the family effective control despite not holding a majority of the economic interest.

Who founded H&M Group?
Erling Persson founded H&M Group in 1947 in Vasteras, Sweden. He opened the first Hennes store selling women's clothing at affordable prices. In 1968, he acquired Mauritz Widforss, a Stockholm retailer, which led to the company being renamed Hennes and Mauritz and later H&M. Erling Persson's son Stefan Persson joined the company in 1972 and became managing director in 1982, leading international expansion.

Where is H&M Group headquartered?
H&M Group is headquartered in Stockholm, Sweden. The company's registered office and principal executive offices are located in Stockholm. H&M Group does not own manufacturing facilities and sources products from approximately 900 suppliers, primarily in Bangladesh, China, India, Turkey, Pakistan, Vietnam, and Cambodia.

How many brands does H&M Group own?
H&M Group operates seven retail brands: H&M, COS, Monki, Weekday, Arket, Other Stories, and Afound. The H&M brand is the largest, accounting for the substantial majority of group revenue and operating over 3,000 of the group's approximately 4,000 stores. The other six brands collectively address more specific consumer segments and price points.

Who owns H&M Group?
H&M Group is publicly listed on Nasdaq Stockholm, but the Persson family holds a controlling interest through Ramsbury Invest AB. The family's A-share holdings give them effective voting control through the dual-class share structure. Stefan Persson, son of founder Erling Persson, is the primary representative of the founding family's interest. Karl-Johan Persson, Stefan's son, serves as chairman of the board.

What is H&M Group's revenue?
H&M Group reported net sales of SEK 234 billion for the fiscal year ending November 30, 2025. The company has approximately 155,000 employees and operates approximately 4,000 stores in 75 markets. Online sales represent approximately 30% of total revenue.

Has H&M Group faced any controversies?
Yes. H&M Group has faced criticism over sustainability marketing claims (resolved in 2022 with revised communications), supply chain labor practices in Bangladesh and other manufacturing countries, and cotton sourcing from the Xinjiang region of China, which led to boycotts in China in 2021. The company has signed the Bangladesh Safety Accord and adjusted its sourcing practices in response to these issues.

Erling Persson founded Hennes (Swedish for "Hers") in 1947 in Vasteras, Sweden. The first store sold women's clothing at affordable prices, targeting the growing post-war Swedish middle class. Persson's concept was simple: offer fashionable clothing at prices accessible to ordinary consumers.

In 1968, Erling Persson acquired Mauritz Widforss, a hunting and fishing equipment retailer in Stockholm. The acquisition brought the Mauritz name into the company and expanded the product range to include menswear. The company was renamed Hennes and Mauritz, later shortened to H&M.

H&M expanded outside Sweden for the first time in 1964, opening a store in Norway. The company continued Nordic expansion through the late 1960s and 1970s, entering Denmark and Switzerland. In 1976, H&M opened its first store in the United Kingdom, marking the beginning of its Western European expansion.

The company listed on the Stockholm Stock Exchange in 1974, providing capital for continued expansion. Stefan Persson, Erling's son, joined the company in 1972 and became managing director in 1982. Under Stefan Persson's leadership, H&M accelerated international expansion significantly.

H&M entered the German market in 1980, which became one of its largest markets. The company expanded into the Netherlands, Belgium, Austria, and Luxembourg through the 1980s and 1990s. In 1998, H&M entered France. In 2000, the company opened its first U.S. store in New York City, marking its entry into North America.

In 2004, H&M launched its first designer collaboration with Karl Lagerfeld, creating the high-low fashion partnership model that became widely copied across the industry. Subsequent collaborations with Stella McCartney, Versace, Maison Margiela, and others generated significant media attention and sales.

In 2007, H&M launched COS (Collection of Style), a premium contemporary brand targeting consumers seeking minimalist design at prices above the H&M flagship. COS established the group's multi-brand strategy, proving that H&M Group could operate distinct brands with different aesthetics and price points.

The group subsequently launched and acquired additional brands: Weekday (acquired from founders), Monki (acquired), and Other Stories (launched 2013), Arket (launched 2017), and Afound (launched 2018). Each brand addresses a specific consumer segment without cannibalizing the H&M flagship. The group also launched Sellpy, a resale platform for second-hand clothing, as part of its circular fashion strategy.

Helena Helmersson became CEO in 2021, the first woman to lead the company. She had previously served as Chief Operating Officer and Head of Sustainability. Helmersson resigned in January 2024 and was succeeded by Daniel Erver, who had been CEO of the H&M brand.

For the full year ending November 30, 2025, H&M Group reported net sales of SEK 234 billion, with sales in local currencies increasing 2% in the fourth quarter. The group operated approximately 4% fewer stores at the end of the period compared to the prior year, reflecting continued rationalization of the store network in favor of larger, more productive locations and digital channels.

H&M Group publishes an annual sustainability report and has made several public commitments. The company has committed to becoming climate positive by 2040 and to using only recycled or sustainably sourced materials by 2030. These are self-reported targets, not independently verified certifications.

The group participates in the Science Based Targets initiative and has set emissions reduction targets for Scope 1, Scope 2, and Scope 3 emissions. H&M Group has invested in renewable energy for its stores and warehouses and has launched garment collection programs in stores worldwide to promote circular fashion.

On labor standards, H&M Group publishes supplier lists and participates in industry initiatives including the Sustainable Apparel Coalition and the Accord on Fire and Building Safety in Bangladesh. The company sources from approximately 900 suppliers across Bangladesh, China, India, Turkey, Pakistan, Vietnam, and Cambodia, where labor standards have been subjects of advocacy campaigns.

H&M Group is not a Certified B Corporation. Its sustainability commitments are self-reported in its annual sustainability report. The company has been criticized by environmental groups for greenwashing, as discussed in the Controversy section below.

H&M Group has faced several notable controversies:

Sustainability marketing (2022): In 2022, H&M Group faced scrutiny in Germany after a consumer protection organization filed a complaint alleging that the group's sustainability claims were misleading. The complaint focused on H&M's Conscious Collection marketing, which critics argued overstated the environmental benefits of the products. H&M subsequently revised its sustainability marketing communications. The matter was resolved with the company adjusting its marketing claims.

Forced labor concerns: H&M Group has faced criticism for sourcing cotton from regions where forced labor concerns have been raised, particularly the Xinjiang region of China. In 2021, H&M was one of several Western brands that expressed concern about cotton sourcing from Xinjiang, leading to backlash and boycotts in China. The company subsequently adjusted its sourcing practices. H&M Group has published supplier codes of conduct and participates in industry initiatives to improve supply chain transparency.

Supply chain labor practices: The group has faced ongoing criticism from labor advocacy groups regarding working conditions in its supplier factories, particularly in Bangladesh. The Rana Plaza factory collapse in 2013, which killed over 1,100 garment workers, affected several fashion brands including suppliers to H&M. H&M Group signed the Accord on Fire and Building Safety in Bangladesh following the disaster and has invested in factory safety audits.

China market backlash (2021): In 2021, H&M faced boycotts in China after statements about Xinjiang cotton resurfaced on social media. The company's products were dropped from Chinese e-commerce platforms and several stores were closed. H&M later issued a statement saying it respects Chinese consumers and is committed to the market. The matter has largely subsided, though H&M's China store count has declined since 2021.