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.
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