Karl-Johan Persson, chief executive officer of Hennes & Mauritz AB (H&M), stands for a portrait in New York, U.S., on Thursday, May 6, 2010. Hennes & Mauritz AB, Europe's second-largest clothing retailer, is looking at opening its first store in the southern hemisphere to tap emerging-market growth and catch up with larger rival Inditex SA. Photographer: Daniel Acker/Bloomberg *** Local Caption *** Karl-Johan Persson Bloomberg