In 1947, H&M's founder, Erling Persson, originally named his women's clothing store Hennes, which is the Swedish word for "her." It later merged with a brand called Mauritz Widforss, a Swedish hunting and fishing store, to form Hennes & Mauritz.
Now, better known as H&M, it is one of the biggest fashion retailers in the world operating 4,739 stores in 71 markets, with 47 online markets. The company continues to be actively managed by the Persson family, with Erling Persson’s son Stefan leading the firm as Chairman of the Board, while Stefan’s son Karl-Johan works as President and CEO. The Persson family collectively controls a 46% stake and retains 74% of the voting rights.