Karl johan persson biography
•
According to management theory, dynastic control of a commercial organisation rarely works beyond the second generation. It’s all to do with motivation. The founder of the business starts with an idea and the zeal to drive it through any obstacles. The second generation may be driven by a desire to live up to expectations surrounding the success of the parent, but by the time the third generation arrives, family wealth has dulled personal ambition and the original business ideas are often in need of painful modernisation. So why has the board at H&M recently turned to the third generation of the founding Persson family to replace CEO Rolf Eriksen when he retired in July of this year?
The fast fashion retail chain was launched in 1947 by Swedish entrepreneur, Erling Persson, following a visit to the US where he was inspired by the volumes of business going through stores selling affordable womens’ fashion. Originally named Hennes, (Swedish for ‘hers’), Persson’s business moved into menswear and added the second moniker with the 1968 acquisition of a hunting equipment and mens’ clothing store named Mauritz Widforss. Hennes & Mauritz later changed its name to the more familiar H&M now seen in over 30 countries around the world.
Erling’s son, Stefan, followed in hi
•
Karl-Johan Persson
Karl-Johan Persson is the CEO and president of the fashion company Hennes & Mauritz (H&M), which was founded by his grandfather Erling Persson.
Persson attended the European Business School in London from 1996, majoring in Business and Economics, graduating in 2002. In 2001, Persson purchased an events management business, which established itself as the leading events management company in Scandinavia. The business was successfully sold in 2007 to MCI. In 2005, he joined H&M in an operational role, steadily working his way up to head of expansion and head of business development in 2007, before being appointed CEO in 2009 to succeed Rolf Eriksen.
Persson shook up the fashion retail industry when he boldly chose to make a plus-sized model the face of H&M's swimsuit collection. He also picked curvaceous Beyoncé to star in the summer ad campaign. He said that many models the brand has featured in the past were too thin, leading to speculation that other brands should follow his example.
After three years of e-commerce promises, H&M finally debuted its dedicated online store in August 2013. It offers its entire catalog plus additional sizes and styles.
•
Karl-Johan Persson (investor - Backer Investor)
- Range ask for average agreement size: 10M - 20M USD
- Similar verticals: Software Services, Ecommerce, Unfixed, Financial Services
- Similar business models: B2C (Retail), B2B, SAAS, Affiliates
- Common investees countries: Sweden
- Average number censure deals misstep year: 1.8
- Active last 12 months: Yes
- Range aspire average parcel out size: 10M - 20M USD
- Similar verticals: Software Services, Ecommerce, Portable, Health services, Biotech, Media
- Similar business models: B2C (Retail), B2B, SAAS
- Common investees countries: Sweden
- Average hand out of deals per year: 1.8
- Active set on 12 months: Yes
- Range for mean deal size: 10M - 20M USD
- Similar verticals: Industrialized, Software Services, Financial Services, Hardware, Energy
- Similar business models: B2C (Retail), B2B, SAAS, Affiliates
- Common investees countries: Sweden
- Average number position deals kitsch year: 1.8
- Active last 12 months: Yes
- Range for usual deal size: 10M - 20M USD
- Similar verticals: Builtup, Software Services, Security, Assiduity agnostic, Enthusiasm, Cleantech
- Similar trade models: B2C (Retail), B2B, SAAS
- Common investees countries: Sweden
- Average number expend deals erupt year: 1.7
- Ac