H&M Group - Statistics & Facts
H&M stands for Hennes & Mauritz, and contrary to popular belief, the company is not named after two different people. Instead, it was founded by Erling Pedersson, who opened his first fashion retail store in 1947 called Hennes, which is the Swedish word for "hers". Upon acquiring the hunting apparel and equipment retailer Mauritz Wildforss, the company name was changed to Hennes & Mauritz. Today H&M Group comprises the fashion brands H&M, COS, Weekday, Cheap Monday, & Other Stories, and Monki, and is one of Sweden’s most valuable brands.
In the present day, H&M Group is present in over 70 physical markets and in 60 online markets. As part of the fast fashion business model, where the manufacture of garments can be completed in as little as 15 days, H&M may find itself in competition with ultra-fast fashion retailers, such as Shein, where this manufacturing process is even faster.
Financial performance
In 2023, the group’s total sales amounted to around 236 billion Swedish kronor. Europe is the biggest market for H&M: in 2023 the external net sales in Europe and Africa was almost three times the value of those in North and South America. H&M’s sales earned the company seventh place in a ranking of the leading apparel retailers worldwide.H&M Group family of stores and brands
The number of H&M stores has fallen since 2019: there were 4,369 stores worldwide in 2023, which was about 100 stores fewer than in the previous year. The three countries with the highest number of stores are the United States, Germany, and the United Kingdom. Out of all the fashion brands under the umbrella of the H&M Group, the brand with the most physical stores is H&M.In the present day, H&M Group is present in over 70 physical markets and in 60 online markets. As part of the fast fashion business model, where the manufacture of garments can be completed in as little as 15 days, H&M may find itself in competition with ultra-fast fashion retailers, such as Shein, where this manufacturing process is even faster.
