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.
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.
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.
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.
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.
Amancio Ortega, the world’s third- richest man, widened his lead over billionaire fast-fashion rivals Stefan Persson and Tadashi Yanai last week, as strong performance from his Inditex SA gave further rise to a fortune that has risen more than 57 percent since the March 2012 debut of the Bloomberg Billionaires Index.