Stefan Persson’s journey from joining his father’s modest clothing store to transforming it into the global fashion powerhouse H&M is a testament to visionary leadership and strategic innovation
Stefan Persson, the man behind the global fashion giant H&M, has a story that’s as much about innovation and vision as it is about resilience and business acumen. Born in 1947 in Stockholm, Sweden, Stefan grew up in a family where entrepreneurship and a strong work ethic were core values. His father, Erling Persson, founded Hennes & Mauritz (H&M) in 1947, initially as a women’s clothing store called Hennes, meaning “hers” in Swedish. This modest beginning laid the foundation for what would become a fashion empire.
Erling Persson’s initial foray into fashion retail began after a trip to the United States, where he was inspired by the efficiency and customer-centric approach of American stores. He returned to Sweden with the idea of offering fashionable clothing at affordable prices, a concept that quickly gained traction. By 1968, Erling had acquired Mauritz Widforss, a hunting and fishing store, expanding the product line to include men’s and children’s clothing, thus rebranding the company to Hennes & Mauritz.
One of Stefan’s most significant contributions to H&M was the development of the fast fashion model
Stefan joined the family business in 1972 after completing his studies. His entry marked a significant turning point for H&M. With a keen eye for fashion and a solid understanding of business operations, Stefan began working closely with his father to streamline processes and expand the company’s reach. His early years in the company were spent learning every aspect of the business, from store management to inventory control, ensuring he was well-prepared to lead the company in the future.
In 1982, Stefan Persson took over as the CEO of H&M from his father. Under his leadership, the company embarked on an ambitious expansion strategy. Stefan was a visionary who understood the importance of globalization and the potential of emerging markets. He initiated the company’s international expansion, starting with neighboring Scandinavian countries and gradually moving into Europe, North America, and Asia.
Stefan’s approach to business was guided by a few key principles: offering high-quality fashion at affordable prices, maintaining a flexible and efficient supply chain, and continuously innovating to meet customer demands. He believed in the power of brand identity and worked tirelessly to build H&M into a recognizable and trusted global brand. One of Stefan’s most significant contributions to H&M was the development of the fast fashion model. This approach involves quickly moving designs from the catwalk to stores to capture current fashion trends. By maintaining a highly responsive supply chain and leveraging economies of scale, H&M could offer trendy clothing at prices that were accessible to a broad audience.
Stefan was also a pioneer in fostering collaborations with high-profile designers. The first of these collaborations was with Karl Lagerfeld in 2004, which was a massive success and set the precedent for future partnerships with designers like Stella McCartney, Versace, and Balmain. These collaborations not only boosted H&M’s brand image but also made high fashion accessible to the masses.
Today, H&M is one of the largest fashion retailers in the world, with over 5,000 stores in more than 70 countries
Under Stefan’s leadership, H&M also became a leader in sustainability within the fashion industry. Recognizing the environmental impact of fashion, Stefan implemented several initiatives aimed at reducing the company’s carbon footprint. H&M launched its Conscious Collection in 2010, featuring clothing made from organic and recycled materials. The company also set ambitious goals for sustainability, including becoming climate positive by 2040.
Stefan’s commitment to innovation extended beyond fashion. He invested in new technologies to improve the shopping experience, both online and in-store. H&M was one of the early adopters of e-commerce, launching its online store in 1998. The company also embraced digital technologies to enhance supply chain efficiency and customer engagement.
Stefan Persson’s approach to leadership was characterized by a deep respect for the company’s heritage and a forward-looking vision. He believed in empowering employees, fostering a collaborative culture, and maintaining a customer-centric focus. Stefan was known for his hands-on approach and his ability to inspire his team to achieve extraordinary results.
In 1998, Stefan stepped down as CEO and was succeeded by Rolf Eriksen, though he remained actively involved in the company as chairman of the board. His son, Karl-Johan Persson, took over as CEO in 2009, continuing the family legacy and furthering the company’s growth. Today, H&M is one of the largest fashion retailers in the world, with over 5,000 stores in more than 70 countries. Stefan Persson’s vision and leadership have left an indelible mark on the company and the fashion industry as a whole. His ability to balance tradition with innovation, maintain a strong brand identity, and commit to sustainability has set a benchmark for other companies to follow.
Stefan’s journey from joining his father’s modest clothing store to transforming it into a global fashion powerhouse is a testament to his entrepreneurial spirit and strategic acumen. His legacy continues to shape H&M’s future, ensuring that the company remains at the forefront of the fashion industry.