In 2021, the group’s total sales amounted to around 22.04 billion U.S. After acquiring the hunting apparel and equipment retailer Mauritz Wildforss, the company name was changed to Hennes & Mauritz and men’s fashion was included in the product range. As the name suggests, this retail format specialized in women’s fashion. At that time, it was called Hennes, which is the Swedish word for "hers". The company was founded by Erling Pedersson, who opened his first fashion retail store in 1947 in Västerås, Sweden. H&M stands for Hennes & Mauritz, but it took several years until the final name evolved.
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