PARIS— Swedish high street giant Hennes & Mauritz AB said its founders would donate 500 million Swedish kronor, or $75.4 million at current exchange, to the H&M Conscious Foundation.
The donation by the family of H&M board chairman Stefan Persson — son of H&M founder Erling Persson and father of chief executive officer Karl-Johan Persson — is earmarked in particular for initiatives promoting children’s health and right to education, among UN Millennium Development Goals.
The fast-fashion retailer established its foundation in 2007 to mark its 60th anniversary. To date, it has supported such charities as Hand in Hand, which combats poverty in India through microloans and training for female entrepreneurs.
In future, the foundation plans to support WaterAid, which provides the poor with access to clean water and hygiene, along with disaster relief efforts.
Karl-Johan Persson said the donation would “enable the H&M Conscious Foundation to carry out more initiatives on a greater scale in order to change and improve the lives of people in countries where H&M is present.”
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“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
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