Carl Stefan Persson, a Swedish business magnate who is worth $12.7 billion was born on October 4th, 1947. The richest of Sweden’s 12 billionaires and the 17th richest person in the world according to Forbes in March 2013, Persson had a net worth of $28 billion; he has since slipped to number 50. Persson led the fashion house H&M until May 2020, when his son took over as chairman.
With a 36 per cent interest, he is still the biggest shareholder in the business. His father, Erling Persson, launched the business in 1947. In 1982, Persson took over the business from his father, and he managed it through 1998. Additionally, Persson holds a sizable share in the Swedish technology firm Hexagon AB. Persson has a sizable number of homes in Stockholm, Paris, and London through his privately held real estate firm Ramsbury Invest.
Stefan Persson Bio/Wiki
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On October 4th, 1947, Carl Stefan Erling Persson was born in Stockholm, Sweden. His father, Erling Persson, who established the women’s apparel retailer Hennes in 1947, taught Persson about the retail side of the fashion industry. The business opened a location in Stockholm, quickly established itself as a major player in the Swedish fashion industry, and later expanded to other European nations.
The Mentor Foundation, a nonprofit dedicated to preventing youth substance misuse, was founded by Persson. He co-funds a foundation for Djurgardens IF and supports the team. Tennis, golf, and downhill skiing are Persson’s pastimes. He has residences in Stockholm, Paris, and London, and he purchased Linkenholt, a village of 21 cottages in Hampshire, England, in 2009.
Erling Persson, the father of Persson, opened Hennes (“Hers”), a women’s clothes store in Västers, Sweden, in 1947, and taught his son the business of selling fashion. The business opened a store in Stockholm, quickly established itself as a mainstay of Swedish fashion, and subsequently expanded to other European nations.
Following the 1968 purchase of Swedish hunting-gear shop Mauritz Widforss, the company became known as H&M and added men’s goods. Persson, who joined the family business in 1972, assisted in driving its spread into Europe and was present in London in 1976 as the first British store opened. In 1982, he took over as managing director and CEO of H&M when his father was appointed board chairman.
Stefan Persson Education
Stefan Persson is the son of Erling Persson, who founded H&M in 1947.
He earned an associate qualification from Stockholm University. Personal life Persson is a founder of the Mentor Foundation, a non-profit organisation that aims to combat substance abuse among young people.
Stefan Persson Personal Life
In the 1970s, while residing in London, Pamela Collett, a photographer, became the wife of Stefan Persson. In 1991, the couple got a divorce.
To make things simpler for the kids after the divorce, they decided to continue living close to one another in Stockholm. Stefan Persson wed Carolyn Denise Florman in 1993.
Stefan Persson Children
Karl-Johan Erling Göran Persson, Pamela and Stefan Persson’s first child, was born in London on March 25, 1975. Two years later, in 1977, Charlotte, the couple’s first child, was born.
The family moved to Stockholm when the oldest son, Karl-Johan, was about seven years old, settling in the Djursholm district. The family welcomed Tom as their third child in 1985.
John Persson, Karl
In 2009, Karl-Johan Persson became the new president and CEO of H&M. Leonie Gillberg and Karl-Johan Persson have three children together. They are residents of Stockholm, Sweden.
Before relocating to Australia to pursue his studies in history, the youthful Karl-Johan attended Enskilda gymnasiet, a private high school in Stockholm. He attended European Business School London from 1996 –2000 after working for H&M in London.
In addition to managing a stud farm, Charlotte Söderström works with H&M sponsorships. She has three kids and is married. The family calls Stockholm, Sweden, home.
The film industry is where Tom Persson works. Before returning to Sweden and founding a company with filmmaker Jens Assur, he attended the Met Film School in London.
Three kids are the result of Persson’s first union with Pamela Collett. Karl-Johan Persson, his son, succeeded him as H&M’s president and CEO in 2009. Tom Persson and Charlotte Söderström, his other two children, are both billionaires. Together with his second wife Denise Persson, née Florman, Persson resides in Stockholm, Sweden.
Stefan is to be credited for H&M’s current status as a significant success story. The corporation has expanded globally under his authority and astute guidance, and now employs over 94000 people in 45 different countries. His innovative partnerships with well-known celebrities from various fields around the world contributed to the company’s continued success.
The company became known as H&M after purchasing the Swedish hunting-gear retailer Mauritz Widforss in 1968. Persson, who joined the family business in 1972, assisted in leading its European expansion and was present when the first British store opened in London in 1976.
In 1982, he took over as managing director and CEO of H&M when his father was appointed board chairman. The leading clothes retailer in Europe by the late 1990s was H&M. As it expanded, H&M established a reputation for “quick fashion”—cheap, current, and broadly appealing designs that were all first produced by in-house designers. Around 2,500 H&M stores were running in more than 40 countries as of 2012. The majority of the brands sold by H&M were house brands.
However, Persson capitalised on star appeal by enlisting the help of pop singers Kylie Minogue and Madonna, as well as fashion designers Stella McCartney, Jimmy Choo, Versace, and Marni. The leading clothes retailer in Europe by the late 1990s was H&M. As it expanded, H&M established a reputation for “quick fashion”—cheap, trendy, and broadly appealing designs that were all first created by in-house designers.
Their ideas were quickly translated into mass-market clothing thanks to a network of suppliers in nations like Turkey, Bangladesh, and China. Persson saw the commercial potential and the cultural fascination with global fashion; as a result, H&M did not modify clothing designs for certain national or regional markets.
Using this technique, H&M was able to take advantage of economies of scale as it expanded into other markets, including the United States (in 2000), Canada (2004), China(2007), Kuwait, and the United Arab Emirates (in 2006). Around 2,500 H&M stores were open in more than 40 countries as of 2012.
The majority of the brands sold through H&M were house brands, but Persson capitalised on celebrity appeal by securing design lines from celebrities like pop singers Kylie Minogue and Madonna as well as fashion designers like Karl Lagerfeld, Stella McCartney, Matthew Williamson, Jimmy Choo, Versace, and Marni.
A few mistakes were made when Persson was chairman, most notably the 1998 appointment of former skateboard champion Fabian Mnsson to occupy his position as managing director. Masson left his position two years later. His son Karl-Johan succeeded Persson as CEO in 2009 and as chairman in 2020. H&M had more than 5,000 stores at the time of his departure, spread over almost 75 nations.
Stefan Persson Achievements
Additionally, he has held positions on the boards of INGKA Holdings BV, the Stockholm School of Entrepreneurship, and Electrolux. After visiting New York City soon after World War 2, his father opened his first business.
He was especially impressed by the fashionable clothing that could be purchased there for less money. Hennes, the first store he ever opened, was a great hit in Vasteras. He then founded Hennes & Mauritz, more commonly referred to as H&M in modern times.
Stefan Persson Quotes
- If there is a Swedish style, I cannot identify it. Stefan Persson Style Cannot Identify Swedish Sweden is famous for many things – but not fashion.” – Stefan Persson
- “Niklas Zennstrom has a thorough background as a successful entrepreneur with extensive expertise in areas such as IT and online.” – Stefan Persson
- “Digital identity is becoming increasingly important in today’s society. Everyday behaviour is changing for all of us. Consider banking, for instance, we hardly ever visit a bank branch now, and we prefer to carry out banking transactions online.” – Stefan Persson
Stefan Persson Net Worth
Stefan Persson is a Swedish business tycoon with a $12.7 billion USD net worth as of 2023. His father Erling Persson founded the clothing retailer Hennes & Mauritz (H&M), which has been a major contributor to Stefan Persson’s net wealth. In addition to the business, Persson is regarded as the richest person in Sweden, placing him 16th on the global wealth list.
The English village of Linkenholt, which he owns outright, is one particularly conspicuous representation of his great riches. He led Hennes & Mauritz as president and CEO from 1982 until 2009 when he was succeeded by his son Karl-Johan Persson. Hennes & Mauritz has been involved in a number of public relations issues after his departure, including one concerning subpar working conditions at a Cambodian supply plant.
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How much is the net worth of Stefan Persson?
Who is Stefan Persson’s wife?
Carolyn Denise Persson
What is Stefan Persson’s age?
What is the name of the Stefan Persson firm?
Hennes & Mauritz