Stefan Persson
Former CEO and chairman of H&M
Stefan Persson is the Swedish businessman who led H&M, the company founded by his father Erling Persson, as chief executive from 1982 and later as chairman until 2020. He oversaw the transformation of H&M from a Scandinavian chain into a global fashion retailer and remains its largest shareholder.
| Role | Former CEO and chairman of H&M |
|---|---|
| Organisation | H&M Group |
| CEO from | 1982 |
| Chairman until | May 2020 |
| Born | 1947, Stockholm |
| Known for | H&M's international expansion |
Who is Stefan Persson?
Stefan Persson, born in Stockholm in 1947, is the son of Erling Persson, who opened the first Hennes womenswear store in Vasteras, Sweden, in 1947. Stefan Persson led H&M for several decades, first as chief executive and then as chairman of the board, and is closely associated with its rise into one of the world's largest fashion retailers.
Career
According to H&M Group, Erling Persson stepped aside in 1982 to make room for his son as chief executive. Stefan Persson ran the business until the late 1990s and then became chairman of the board, a role he held for more than two decades. In May 2020 he was succeeded as chair by his son Karl-Johan Persson, who had been chief executive of H&M Group from 2009 to 2020.
Outside H&M, Persson is active as an investor, including through the family company Ramsbury Invest.
Influence on the fashion business
The period in which Persson led H&M as chief executive and chairman covers the company's transformation into an international group. H&M Group's own history records the foundations for global growth being laid in the 1980s, with first stores in Germany and the Netherlands, followed by accelerated European expansion in the 1990s.
- 1998: H&M opens in Paris and launches online shopping in Sweden.
- 2000: a Fifth Avenue store in New York marks H&M's entry into the United States and its first expansion beyond Europe.
- Model: fashion at affordable prices, sold through a large network of company-operated stores.
Under the family's long-term ownership, H&M grew into one of the two dominant European fast fashion groups alongside Inditex, with a strong presence across Europe, North America and Asia.
Why it matters
Persson is a central figure in the history of the modern high street. His leadership turned a successful Swedish retailer into a global brand and helped define the affordable fashion segment that dominates much of the mass market today. As H&M's largest shareholder, the Persson family continues to shape the strategic direction of the group, including its investments in digital retail and sustainability. His long tenure also illustrates the role that stable family ownership has played in the development of several of Europe's leading fashion retailers.
Frequently asked questions
Who is Stefan Persson?
Stefan Persson is the Swedish businessman who led H&M as chief executive from 1982 and later as chairman until 2020. He is the son of founder Erling Persson and remains H&M's largest shareholder.
Who is the chair of H&M now?
Karl-Johan Persson, Stefan Persson's son, has chaired H&M Group since 2020. He previously served as chief executive from 2009 to 2020.