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H & M

February 12, 2014

H&M third-gen Karl-Johan Persson has announced the fast-fashion retailer will open its first store in India this year, following approval from the Indian government granted in late 2013.

H&M third-gen Karl-Johan Persson has announced the fast-fashion retailer will open its first store in India this year, following approval from the Indian government granted in late 2013.

In December, the Foreign Investment Promotion Board approved a 7.2 billion rupee (€85 million) investment proposal from the Swedish chain to create a wholly-owned subsidiary in the country.

December 4, 2013

Swedish family empire H&M has been granted approval from the Indian Foreign Investment Promotion Board to launch its stores in the South Asian country, the government announced on Monday.

Swedish family empire H&M has been granted approval from the Indian Foreign Investment Promotion Board to launch its stores in the South Asian country, the government announced on Monday.

The 7.2 billion rupee (€85 million) investment will allow the fast-fashion giant to create a wholly-owned subsidiary in the country, where it has previously said it plans to open 50 stores.

December 6, 2011

Hennes & Mauritz is still run like a small family business, focusing on long-term results and maintaining the founder’s informal management style, despite being one of the biggest clothing retailers in the world, according to its chief executive.

Hennes & Mauritz is still run like a small family business, focusing on long-term results and maintaining the founder’s informal management style, despite being one of the biggest clothing retailers in the world, according to the Swedish group's chief executive.

In an interview with the Wall Street Journal, family member Karl-Johan Persson said H&M tends not to react as strongly to short-term market pressures as other publicly quoted companies.

September 29, 2011

Hennes & Mauritz, the Swedish fashion chain controlled by the Persson family, has reported an 18% drop in third-quarter net profit, as global economic conditions hit the fast-fashion retailer.

Hennes & Mauritz, the Swedish fashion chain controlled by the Persson family, has reported an 18% drop in third-quarter net profit, as global economic conditions hit the fast-fashion retailer.

Although sales remained similar – SEK 26.91 billion (€2.9 billion) in 2011 compared to SEK 26.89 billion in 2010 – during the quarter, profits dropped to SEK 3.59 billion from 2010’s third-quarter figure of SEK 4.85 billion.

August 16, 2011

Sales at Swedish family-run business H&M are not growing as strongly as forecasted, leaving managing director Karl-Johan Persson under increased pressure. 

Sales at Swedish family-run business H&M are not growing as strongly as forecasted, leaving managing director Karl-Johan Persson under increased pressure.

Last month, sales at H&M rose just 3% compared to July 2010 - a significant change on the company’s predicted growth of 4.7%. Comparable units sales also took a knocking, decreasing by 6%. Comparable units comprise the stores, online shops and catalogue sales in countries that have been in operation for at least a financial year.

March 31, 2011

Family-controlled fashion giant Hennes & Mauritz announced on 31 March that its net profits for the first quarter ending February 2011 fell by 30% compared with the same period last year, due to “external factors”.

Family-controlled fashion giant Hennes & Mauritz announced on 31 March that its net profits for the first quarter ending February 2011 fell by 30% compared with the same period last year, due to “external factors”.

The Stockholm-based retailer said that its net profits for the quarter fell to $414 million from $594 million the year before. It attributed this drop to negative currency effects, high cotton prices and an increase in transportation costs.

August 17, 2010

Family-controlled fashion giant Hennes & Mauritz reported a 10% rise in July year-on-year sales, the fastest rise for sometime, as the clothing retailer plans further rapid expansion.

Family-controlled fashion giant Hennes & Mauritz reported a 10% rise in July year-on-year sales, the fastest rise for sometime, as the clothing retailer plans further rapid expansion.

The Swedish-based business, headed by the third generation of the founding Persson family, announced the results on 16 August, but gave few other details.

Overall, sales for July, including those at new stores, rose 21%, the fastest sales increase for the company in more than two years.

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