The Sweden Stefan Persson is a famous business magnate. His core activity is heading fashion company H&M (Hennes & Mauritz). In December 2015, Forbes reported Persson's net worth as $22.1 billion. H&M is known for the fast-fashion clothing for men, women and children.
Carl Stefan Erling Persson was born on the 4th of October, 1947 in Stockholm, the capital of Sweden. His parents are Erling Persson and Margrit Persson. Erling Persson is the founder of the first Hennes store in Vesteras in 1947. It became famous for having stylish and inexpensive women's clothing.
Stefan studied Arts&Science at Stockholm University & Lund University, 1969–1973.
Stefan Persson was the Managing Director and the Chief Executive Officer and the Country Manager for H&M. In 1979 he joined the company and in 1982 became a chairman after his father who was the chief executive officer of the company. Stefan was CEO for 16 years until 1998. Under the charge of Stefan the company expanded its stores to West Germany in the year 1980 and by the end of the year 1985; the company owned 200 clothing stores in the continent including Britain. After his resignment his son Karl-Johan, also a billionaire, became a chairman. Besides of H&M, Persson has been building a portfolio of first class retail property across Europe. Through Ramsbury Property he owns real estate in some of the most glamorous shopping districts in Europe, spanning Oxford Street in London to Via del Corso in Rome and the Champs-Elysée in Paris.
(Marketing strategy that helped out at the launch of H&M's...)
Persson is known to run the company quite frugally,for instance, only a few executives have mobile–phone privileges. Persson described such budgetary concerns as "crucial" . His frugality was one of the reasons why H&M succeeded.