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H & M Hennes & Mauritz AB operates in the retail fashion industry, specializing in clothing, accessories, footwear, cosmetics, and home textiles. The company's primary business involves offering a range of fashion products for men, women, teenagers, and children under various brand names including H&M, COS, & Other Stories, Monki, Weekday, and ARKET. Founded in 1947 in Västerås, Sweden, H&M is headquartered in Stockholm. The company has a notable international presence, with thousands of stores across multiple continents, including Europe, Asia, North America, and the Middle East. H&M focuses on sustainable and affordable fashion with initiatives aimed at improving environmental and social impacts within the fashion industry.

Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 325 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.