About Stefan Persson
Stefan Persson is 71 years old Swedish business executive known for being the chairman of Hennes & Mauritz AB (H&M), a multinational clothing-retail company. The company brings up fast fashion clothing in trend for men, woman, teenagers and children. The company showed the revenue of US$25.191 billion in financial year 2016 having subsidiaries such as Weekday, Monki, Cheap Monday, COS and ARKET.
Stefan was born on 4th October 1947 in Stockholm, Sweden as Carl Stefan Erling Persson to Margrit and Erling Persson. He was raised in family with his sister Lottie Tham. He completed his education attending University of Stockholm. Among his personal interests he likes tennis, golf and downhill skiing.
Stefan started his career by inheriting his father’s company H&M in 1972. This company was started by his father, Erling Persson in 1947 by opening its first store under name Hennes in Vasteras, Sweden. The popularity of its clothing quality made it a fixture of fashion in the Swedish market thus making expansion in European
countries. Further after acquiring Mauritz Widforss, the firm was renamed as H&M and started introducing men’s clothing into the wardrobe. Soon company made its entrance in London in 1976 and he became the managing director and CEO of the company.
The company turned out to be the Europe’s largest retail clothing chain with expansion in United States, Canada, Middle East, Kuwait, China and United Arab Emirates. By 2012, the company got over 2500 stores in 40 countries. Now Karl-Johan Persson is appointed as CEO of the company since 2009 with Stefan remaining at the position of chairman. Stefan is now the 17th richest man in the world who has made all his fortune over the past few decades owing to the boom of the fashion industry. Aside he also owns a large number of stakes in the Swedish technological company, Hexagon AB and has number of properties through his real estate company known as Ramsbury all over Europe, London, Paris and Stockholm.
He married twice. His second marriage was with Carolyn Denise Perrson. Both have three children; Karl-Johan Persson, Tom Persson and Charlotte Soderstrom.
It is estimated to be around US$18.9 billion as on June 2017.