Erling Persson was not a fresh entrepreneur in the retail sector. Already in 1943 he had started Pennspecialisten, as of today, is it Ur & Penn.
with Her was " Persson has found a concept that came from our customers – good fashion at a reasonable price.
The first store was named for Her, and it is said to have been in the Erling Persson himself, who designed the logo. H in Her looks just the same today as it did in 1947.
H&M's founder, Erling Persson. Photo: TT
in Västerås, sweden, opened Her first store in Stockholm, sweden. This would be followed by more, and the chain is expanding at a rapid pace, other countries as well.
in 1968, purchased the Erling Persson, Mauritz Widforss Trade LTD, a business selling men's clothing and jaktutrustning. He combined this new acquisition of Hers, who's name was changed to Hennes & Mauritz.
the Company became a public company in 1974, however, Erling Persson would not let in the controlling of the power. He made sure to keep the majority of the votes attaching, and it's been family ever since. In the same year, the name was changed to the abbreviation H&M.
stephen and Karl-Johan Persson. Photo: Alexander Mahmoud
Erling Persson in 1982, as president and ceo and handed over the task to his son, Stefan.
It was over, Stefan Persson's time as the H&M began, with the great ads of the holiday shopping season, with the super models wearing the company's underwear. The ads were provocative, although it was not completed, in order to be made and torn down, often the bottom - which is not a bad H&M is one thing. Sales were up year-on-year.
Slide 1 of 3 : the Queue outside the H&M store on Fifth Avenue in New York city on the opening day, march 31, 2000. Photograph: Richard Drew/AP
Slide 2 of 3 , part of H&M's commercials with Anna Nicole Smith, the model brought a very strong reaction in 1993. Photo: Kenneth Jonasson/TT, Slide 3 of 3 Stella Mccartney's collection for H&M was released in 2005. Photograph: Ray Tang/TT-Slide-show
mr Persson left the position as managing director in 1998 and was chairman of the board. The two ceos, Fabian Månsson and Eriksen have been recruited from outside the family circle, but the power remained in the Stefan Persson family's hands.
At the turn of the century, H&M opened the first store in the US, on the fashionable Fifth Avenue in New York city. A number of the world's top designers, is connected to the chain, Karl Lagerfeld, Versace and Stella McCartney.
When the ' 00's are coming to an end in the third generation, Persson, of the president, the chair. Stephen's son, Karl-Johan for the taking in 2009.
with more and more stores were opened. However, in spite of the fact that H&M had online shopping since 1998, the company came increasingly to be perceived as behind the times.
Karl-Johan Persson, H&M's press conference on Thursday morning. Photo: Magnus Hallgren
E-commerce took off in the 10's, but the H&M instead of a huge network of stores and, what was worse, a lot of inventory. Where competitors such as Zara, which had a turnover of clothing at a fast pace and hung on the clothes left for weeks on hangers at H&M.
It was not a crisis, but profits fell and the share price is the same. From a peak of 364 sek in February of 2015, the collapsed share price to 121 in march 2018 at the latest. Karl-Johan Persson has been questioned, and it was obvious how depressed he was in the public occasions, such as when the financial statements were presented, or at the general meetings of the company.
for years, he and the company managed to buck the trend, and the share price is now around 210 dollars. And, on Thursday, was Karl-Johan Persson to present a profit of eur 5.4 million for the fourth quarter of a billion higher than in the corresponding period of the previous year. , The operating chief, Helena Helmersson, will become H&M's sixth president. Photo: Magnus Hallgren
this spring break, however, as a tradition. The next managing director of the company, which was born 73 years ago in Västerås, sweden is not a party. Nor is there any one from the family circle. The operational manager, Helena Helmersson, will become H&M's sixth president.
" if he adds, with a family and through companies under their control nearly 48 per cent of the issued share capital, 75 per cent of the vote. His sister, Lottie Tham with family, owns 5.4% of the share capital and 2.6% of the vote. His son, Karl-Johan, own less than one per cent of the share capital and 0.4 percent of the vote.
Erling Persson had a daughter, Sian William, who passed away in 1992. Her two sons, takes off the shares of the company.
and Then, in 2015, he adds in addition, the acquired more than 10% of the outstanding shares, which has led to speculation that he is planning to buy out H&M on the stock exchange.
the Purchase, however, has coincided in time with the criticism of Karl Johan. The purchase could just as well be interpreted as a show of support for the pressure on his son.<