H&M Hennes & Mauritz AB

Specialty Apparel RetailFounded 1947- HQ today: Stockholm, Sweden

Founders

Who Founded H&M Hennes & Mauritz AB?

Erling Persson · Founded 1947 · HQ today: Stockholm, Sweden

Who founded H&M Hennes & Mauritz AB?

H&M Hennes & Mauritz AB was founded by Erling Persson in 1947 in Västerås, Sweden. It is now led by Daniel Ervér.

Founders: Erling Persson
Founded: 1947
Headquarters: Stockholm, Sweden
Number of founders: 1
Current CEO: Daniel Ervér (since 2024)

Where was H&M Hennes & Mauritz AB founded?: H&M Hennes & Mauritz AB was founded in Västerås, Sweden in 1947. wikidata.org
When was H&M Hennes & Mauritz AB founded?: H&M Hennes & Mauritz AB was founded in 1947.
Who started H&M Hennes & Mauritz AB?: H&M Hennes & Mauritz AB was founded by Erling Persson.
How old is H&M Hennes & Mauritz AB?: H&M Hennes & Mauritz AB is 79 years old as of 2026.

Founding Story

After a postwar trip to the United States, where he saw high-volume, low-price clothing stores, Erling Persson opened Hennes ('hers' in Swedish), a women's clothing store in Västerås, in 1947. In 1968 he bought Stockholm hunting and outdoor retailer Mauritz Widforss, which brought menswear into the business and gave it the name Hennes & Mauritz.

Erling Persson

Background

Swedish entrepreneur.

Role at H&M Hennes & Mauritz AB

Erling Persson founded Hennes (Swedish for 'Hers') in 1947 after a road trip across the United States. He was deeply inspired by the high-volume, low-margin retail model of American department stores like Macy's. He brought this aggressive, volume-driven strategy back to Sweden, completely democratizing fashion in post-war Europe before acquiring hunting apparel retailer Mauritz Widforss to add menswear to the brand.

Erling Persson was born in 1917 in Borlänge.

Persson was born on January 21, 1917 and died on October 28, 2002. The idea came from a trip to the United States after the Second World War, where the efficient, high-volume stores impressed him. He opened the first shop in Vasteras in 1947, selling women's clothing under the name Hennes, Swedish for "hers".

H&M Hennes & Mauritz AB: CEO & Leadership History

Full timeline →

Daniel Ervér

President and Chief Executive Officer

2024 – Present

Under Ervér, operating margin improved from 7.4% in FY2024 to 8.1% in FY2025, and Q3 2026 operating profit rose 23% to ~$600 million (SEK 6.0 billion). He has cut costs, simplified the organization and shifted toward in-season buying. Local-currency sales growth is still weak.

Helena Helmersson

Chief Executive Officer

2020 – 2024

She cut costs and exited Russia in 2022. She stepped down in January 2024 and Daniel Erver succeeded her.

Karl-Johan Persson

Chairman of the Board (CEO 2009-2020)

2009 – Present

As CEO, he oversaw rapid global store growth and new brands such as & Other Stories and ARKET. That large store base later weighed on the business as shopping moved online. As chairman since 2020, he represents the Persson family, which owned more than 68% of shares by August 2026.

Rolf Eriksen

Chief Executive Officer

2000 – 2009

H&M expanded into many new markets during his tenure and Karl-Johan Persson succeeded him in 2009.

Keep researching H&M Hennes & Mauritz AB

Who Founded H&M Hennes & Mauritz AB? FAQ

Who founded H&M and what inspired its establishment in 1947?

Erling Persson founded H&M in 1947 in Västerås, Sweden. During a post-World War II trip to the United States, Persson observed high-volume, low-margin American discount clothing stores. Inspired by this retail efficiency, he returned to Sweden and opened 'Hennes', a boutique offering stylish, affordable women's fashion.

How did Erling Persson's acquisition of Mauritz Widforss reshape the company?

In 1968, Erling Persson acquired Mauritz Widforss, a Stockholm-based retailer of hunting and outdoor equipment. The acquisition brought a men's clothing inventory into the business, prompting Persson to rebrand the entire enterprise as 'Hennes & Mauritz' (H&M) and introduce permanent menswear and children's collections.

What core merchandising philosophy did Erling Persson establish?

Erling Persson established the foundational commercial philosophy of offering 'fashion and quality at the best price.' He prioritized high inventory turnover, large-scale direct procurement from garment manufacturers to eliminate middlemen, and accessible high-street storefront locations.

How did the Persson family maintain long-term ownership and control over H&M?

The Persson family structured H&M's equity with a dual-class share system when the company went public in 1974. Through Class A voting shares held via their private investment vehicle Ramsbury Invest AB, the family controls over 70% of the voting power, shielding H&M from hostile takeovers and short-term market pressures.

What initial challenges did Erling Persson face when launching Hennes in postwar Sweden?

Erling Persson faced resistance from traditional Swedish garment retailers and boutique cartels who pressured clothing manufacturers to boycott his discount store. Undeterred, Persson sourced directly from independent textile mills and expanded his store footprint across Scandinavia.

When did Erling Persson transition leadership to his son Stefan Persson?

In 1982, Erling Persson stepped down as managing director, passing executive leadership to his son Stefan Persson. Erling remained actively involved on the board and as an advisor until his passing in 2002 at the age of 85, having witnessed H&M become a worldwide retail enterprise.

How is the third generation of the Persson family involved in H&M today?

The third generation of the Persson family plays a central role in H&M's stewardship. Karl-Johan Persson serves as Chairman of the Board of Directors, while other family members participate across philanthropic foundations and family office investment initiatives supporting circular technology startups.

What philanthropic and educational initiatives did the founding Persson family create?

The Persson family established the H&M Foundation, a non-profit global foundation funded by the family that drives positive social and environmental change in the textile industry. The family also contributes extensively to business education, medical research, and entrepreneurial incubators across Sweden.

What does H&M stand for?

H&M stands for "Hennes & Mauritz." Erling Persson founded the women's store "Hennes" in 1947. In 1968, he wanted to expand into menswear, so he bought a massive hunting and fishing equipment store in Stockholm called "Mauritz Widforss." He merged the names, creating H&M, and began selling men's and children's clothing.

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