Persson is the largest shareholder in Hennes & Mauritz, Europe's second-biggest clothing retailer. The company was founded by his father, Erling, in 1947. Today it operates about 2,500 stores in 43 countries with a staff of 94,000 employees. The company reported sales of more than $16 billion for the financial year ended Nov. 30, 2011.
Stefan Persson News
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Hennes & Mauritz AB Chief Executive Officer Karl-Johan Persson sees China overtaking Germany as the company’s largest market as the fashion retailer opens stores there at a faster pace than anywhere else.
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Hennes & Mauritz AB Chief Executive Officer Karl-Johan Persson sees China overtaking Germany as the world’s second-biggest clothing retailer’s largest market as the company opens stores there at a faster pace than anywhere else.
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In 2003, Luis Amaral bought Eurocash SA, a Warsaw-based grocery business, for 120 million Polish zlotys ($30 million). The operation was losing money. Competitors were taking market share. Its owner, Jeronimo Martins SGPS SA, the Lisbon-based retail operation controlled by billionaire Alexandre Soares Dos Santos, wanted nothing to do with it.
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Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
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The world’s wealthiest people added a combined $3 billion to their collective net worth this week as Swedish retail tycoon Stefan Persson, 64, became the third- richest man in Europe.
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The richest people on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 100 wealthiest individuals.
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Hammerson Plc agreed to sell a building in Paris’s fashion district to Ramsbury AB for 165 million euros ($219 million).
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Inside Inditex SA’s concrete-and- glass headquarters in the Spanish town of Arteixo, a lithe woman slips into a dress that a seamstress working amid buzzing sewing machines stitched together just minutes earlier. A half circle of designers -- looking like models themselves -- nod approval.
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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.
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European stocks gained for the first time in five days as automakers and mining companies rallied after the Group of 20 nations pledged to safeguard economic growth while cutting debt.
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