The fashion industry has undergone drastic changes over the years, with waves and waves of new trends that have aggressively altered the industry landscape in a profound way. In recent years, the “fast fashion trend” (which describes the rapid pace at which the latest designs translate into affordable clothing) has stood out as one of the biggest disruptors of the fashion business in the 21st century. Founded in 1963, the L Brands family includes some of the world's most renowned retail cartels, such as Victoria's Secret, PINK, Bath & Body Works, Henri Bendel and La Senza. Today, L Brands operates more than 3000 stores with sales of special brands in 80 countries and more than 800 franchised branches around the world.
Wexner remains the company's president and CEO. Today, The Gap controls five international brands (Gap, Banana Republic, Old Navy, Athleta and Intermix) and manages more than 3165 stores in 90 countries, in addition to 459 additional stores operating under franchise agreements. Although the Fisher family is no longer actively involved in the day-to-day operation of the company, it maintains a 44 percent stake. H&M is the second largest fashion retailer in the world.
Founded in 1947 by Erling Persson in Västerås, Sweden, the store (originally called Hennes) was a store specializing in women's clothing. Later, it expanded to include men's clothing following the successful acquisition of the men's clothing brand Mauritz Widforss. The acquisition also involved a name change to Hennes & Mauritz, which was later changed to H&M for ease of pronunciation as the company began to expand into international markets. Today, H&M controls global brands such as H&M, COS, Weekday, Cheap Monday and Monki, and operates 4739 stores in 71 markets, with 47 online marketplaces.
The company is still actively managed by the Persson family, with Erling Persson's son, Stefan, leading the firm as chairman of the board of directors, while Stefan's son, Karl-Johan, serves as president and chief executive officer. The Persson family also collectively controls a 46 percent stake and retains 74 percent of the voting rights. Since then, Zara has been at the forefront of the fast fashion revolution, with a highly efficient supply chain and inventory system, allowing the latest designs from fashion shows in New York, Paris and Milan to be quickly translated into affordable clothing sold in Zara stores around the world in such only 15 days. Inditex also manages other brands, such as Zara Home, Massimo Dutti, Bershka, Oysho, Pull and Bear, Stradivarius and Uterque, with a total of more than 7,400 stores in 96 countries around the world.
