It is difficult not to have never bought something from H&M (Hennes & Mauritz), or at least to have seen one of its establishments, as this Swedish multinational chain is a true benchmark in the fashion sector worldwide. It has clothing, accessories and cosmetics stores spread across Europe, the Middle East, Africa, Asia and America. However, unlike other great textile tycoons such as Inditex or Mango, his story is not as well known.
Origin of H&M
To learn about the creation of this famous chain, we must go back to 1947, when Erling Persson opened a women's clothing store in Västeras (Sweden) called Hennes, whose meaning is "for her", which had "a new and progressive concept: updated fashion with frequently at affordable prices”, explains H&M on its website. The establishment gained great recognition, so they decided to open a store in the capital, Stockholm. However, success would be consolidated in the 1960s, when the brand spread and the first store outside the country was opened, specifically in Norway.
At the end of that decade, in 1968, Persson acquired another men's clothing store called Mauritz. From the union of both names (Hennes - Mauritz) the current H&M brand was born. "This is the beginning of the offer of clothing for men and also for children, which leads H&M to offer clothing for the whole family," says the firm, which, since then, has not stopped growing, expanding and multiplying. , both in number of stores and in the range of products and brands. Currently, it covers a large number of sectors: women, men, children's fashion, pregnant women, large sizes, home...
Can your financial portfolio withstand yet another global market crash? Learn how to generate passive income, and p… https://t.co/epAz2X57UH— Success Resources Tue Jul 10 14:00:01 +0000 2018
Commitment to creating a sustainable business
The Swedish chain commits on its website "to lead the change towards a better future for fashion". A transformation that "starts with improving sustainability performance in our own value chain and demonstrating the resilience of sustainable businesses."
In this sense, H&M advocates recycling and reusing textiles, so that they are not wasted: “It makes no sense that so many discarded clothes and textiles end up in a landfill. Reusing and recycling are two of the many ways to meet our goals towards a more sustainable fashion future.”
Thus, it ensures that, among other actions, it tries to obtain materials in a sustainable way so as not to harm nature or animals with the manufacture of its products: "We have a long-term commitment to improve animal welfare in our supply chains and we are working to source all animal-derived materials from farms with good animal husbandry,” he adds.
Finally, the company also works to offer good working conditions to its employees: “We want to be part of a fashion industry that provides fair jobs and equal treatment for all. We respect human rights, promote inclusion and uphold diversity throughout our supply chain, and ask others to do the same.”