Retailer H&M rose 20% in the first quarter, mainly driven by the strong sales of its spring clothing series.

In the three months ended May 31st, the company's net profit amounted to US $745 million.

As the world's second largest clothing retailer, there are 2575 branches worldwide and plans to open 275 more stores this year.

The company will enter five new markets this year - Bulgaria, Latvia, Mexico, Malaysia and Thailand.

H&M women's wear

Haines Morris (Hennes&MauritzAB, referred to as H&M) was founded in 1947 by Erling Persson in Sweden's Vsters city.

Today, Haines Morris sells clothing, accessories and cosmetics in more than 1500 stores worldwide, employing more than fifty thousand employees.

What is unusual is that H&M does not have a factory of its own. It maintains cooperation with more than 700 independent suppliers in Asia and Europe.

The old Haines Maurice store in Stora Gatan street, Sweden, is the world's first Haines Morris store.

H&M buys the cheapest cloth, and all OEM processing sites are in the cheapest areas of labor, such as China and Turkey.

In 1997, H&M issued a commitment to mark all the products in the production area.

The business philosophy of H&M is "providing the best price."

And quality ".