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Erling Persson (21 January 1917 – 28 October 2002) was the founder of H&M (Hennes & Mauritz). [1] [2] He got the idea following a post-World War II trip to the United States: he was impressed by the country's efficient, high-volume stores.
H&M is the second-largest international clothing retailer after Inditex. [12] [13] H&M was founded by Erling Persson in 1947 under the name Hennes. CEO from 2020 to 2024 was Helena Helmersson. Current CEO is Daniel Erver as of January 2024. [14] [15] [16]
He is chairman of the fashion company Hennes & Mauritz (H&M), and was its CEO from 2009 to 2020. [3] [4] H&M was founded by his grandfather Erling Persson. [5] [6] As of December 2023, according to Forbes, his estimated net worth is US$1.9 billion. [7]
Persson was the chairman of fashion company H&M until May 2020, when he was succeeded by his son. [5] He remains the company's largest shareholder, owning a 36% stake. [6] The company was founded by his father Erling Persson in 1947. [7] Persson took over H&M from his father in 1982 and served as its manager until 1998.
In August 2023, Express announced that they would be laying off 150 workers in effort to achieve $150 million in annualized expense reductions by the end of 2025. [10] On October 24, 2023, Express warned that it may have to file for Chapter 11 bankruptcy protection as it has been hit hard from the COVID-19 pandemic, stating store sales have been declining for years and rising costs putting the ...
H Mart (Korean: H 마트 or 한아름 마트) is an American chain of Asian supermarkets operated by the Hanahreum Group, headquartered in Lyndhurst, Bergen County, New Jersey.
Rowland Hussey Macy Sr. (August 30, 1822 – March 29, 1877) was an American businessman who founded the department store chain Macy's. Life and career [ edit ]
In 1896, the family moved to Youngstown, Ohio, following the lead of Harry, who had established a shoe repair shop in the heart of the emerging industrial town. [18] Benjamin worked with Harry in the shoe repair shop until he secured a loan to open a meat counter and grocery store in the city's downtown area. [19] [20]