Business Strategies and Vision of H&M

598 WordsJan 25, 20182 Pages
H&M Hennes & Mauritz is a Swedish multinational company established in 1947, known for it’s clothing for men, women, teenagers and children. It is expanded to 53 countries and as of 2013 employed around 116,000 people. It is ranked as the second largest global clothing retailer. It generated $18.13 Billion revenue in the year 2013. Around the world they have 3,100 stores. Most of the stores are in Germany, United Kingdom, United States, France, Spain, and Sweden. The stores are in every continent. Vision: H&M’s business operations are aimed to run in a way that is socially, economically and environmentally sustainable. By sustainable, they mean that the needs of both present and future generations must be fulfilled. Mission Statement: H&M’s purpose is to offer their customers fashion and quality at their best price. H&M believes that quality is more important than meeting or exceeding customer’s expectations. It is continuously working to better their products by manufacturing under good working conditions, and with limited impact on the environment. History Of H&M: ➢ 1947: The first store opens in Västerås, Sweden, selling women’s clothing. The store is called Hennes ➢ 1968: The name is changed to Hennes & Mauritz. ➢ 1976: The first store outside Scandinavia opens in London, in the UK. ➢ 1977: Sales of cosmetics begin. ➢ 1998: H&M online shopping begins. ➢ 2000: H&M opens in more European markets. ➢ 2004: H&M initiates designer collaborations starting with
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