H&M was founded by a man named Erling Persson in 1947. The first store was opened in Sweden, where the company's headquarters are located. He founded the company to offer fashionable clothing at a fairly affordable price. At first he only sold women's clothing until he met Mauritz Widforss in 1968. Mauritz was a hunting clothing retailer, carrying men's clothing at H&M. H&M is now the world's second largest clothing retailer, with profits of $17 billion a year. Their stores are located from the Middle East to Brazil, with over three thousand stores. H&M may not seem like a big company in America, but it has a big impact on the world as a company