H&M; Hennes & Mauritz AB (operating as H&M;), is a Swedish clothing company, known for their inexpensive and fashionable clothing offerings. It was established in Västerås, Sweden, in 1947 by Erling Persson, though at the time it only sold women’s clothing and was called Hennes, Swedish for “hers.” In 1968, Persson acquired the premises and inventory of a Stockholm hunting equipment store named Mauritz Widforss. Included in the inventory was a supply of men’s clothing, prompting Persson to expand into menswear. Accordingly, he renamed the store Hennes & Mauritz, later abbreviated to H&M.; H&M; has more than 1300 stores in 24 different countries and has more than 50,000 employees. Stefan Persson, Erling’s son, became CEO in 1990 and Chairman of the Board in 1998. The Church of Sweden is a major shareholder in the chain.