00:00We all know H&M as one of the most successful clothing retailers in the world today,
00:04but how did it start? Join me as we take a look at the story of H&M Hens &
00:08Moritz AB.
00:09Better known as H&M, is a multinational clothing retailer headquartered in Stockholm,
00:15Sweden. It was founded by Erling Persson in 1947. Today, it's the second largest global
00:21clothing retailer, with more than 4,500 stores in 69 countries. Only Zara, another Spanish fast
00:28fashion brand, has more locations worldwide. H&M operates several other chains as well,
00:34including and other stories, Kos, Monkey, Weekday, and Cheap Monday. In 2019, H&M had a total revenue
00:42of over 20 billion US dollars. This was down from the previous year due to a decline in sales,
00:48but, overall, it's still an impressive feat for a company that started out so small.
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