H&M Melbourne Withdrawal from Russian market (2022) Īlong with hundreds of other global companies, H&M announced on 2 March 2022, an end to retail operations of its more than 150 stores in Russia, as a result of the Russian invasion of Ukraine. In October 2020, H&M announced that it was planning to close 5% of its worldwide stores in 2021 as a result of the COVID-19 pandemic. In September 2013, the retailer opened its 3000th store in Chengdu, China. At the end of August 2012 they were operating 304 more stores, bringing the total to 2,629. H&M operated 2,325 stores at the end of 2011. Its worth was estimated at $12 billion to $16 billion. In 20, brand consultancy Interbrand ranked H&M as the twenty-first most-valuable global brand. Other brands Ĭoncept stores, including COS, Weekday, Monki, and Cheap Monday, launched following H&M's expansion in Asia. Initially distributed through the company's online catalog, these home furnishing items are now sold at H&M Home stores around the world.
In 2008, the company announced in a press release that it would begin selling home furnishings. store on 31 March 2000 on Fifth Avenue in New York City marked the start of its expansion outside of Europe. H&M continued to expand in Europe and began to retail online in 1998 with the domain hm.com registered 1997, according to data available via Whois. Shortly after, in 1976, the first store outside Scandinavia opened in London. The company was listed on the Stockholm Stock Exchange in 1974. In 1968, Persson acquired the hunting apparel retailer Mauritz Widforss (founded in 1904 by Laurentzius Mauritz Victor Widforss) in Stockholm, which led to the inclusion of a menswear collection in the product range, and the name change to Hennes & Mauritz. The shop, called Hennes (Swedish for "hers"), exclusively sold women's clothing. The company was founded by Erling Persson in 1947, when he opened his first shop in Västerås, Sweden. 7.4 Factory building structural collapses.5.2 Supply chain adaptation for endangered forest protection.5 Sustainability and environmental awareness.1.7 Withdrawal from Russian market (2022).
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