H&M Billionaire Quietly Moves Retailer Toward Private Ownership

Hennes & Mauritz AB, the fast-fashion retailer that’s been listed on the Swedish stock market since 1974, is steadily moving back toward private ownership.

The founding family has stepped up purchases of H&M shares, spending more than 63 billion kronor ($6.6 billion) since 2016 and fuelling speculation it could take the Stockholm-based company back into private hands — despite denials from family members.

The Perssons, one of Sweden’s wealthiest families, have amassed a growing stake…