Karl-Johan Persson

""We were there and saw the first store open, on Fifth Avenue in New York. It was really touching. Many had failed to start clothing companies in the USA, and it was a major commitment for us that went very well. It was fun for grandpa to see, since it was in the USA where he got his idea for H&M. And it was fun for me to see him so happy," Karl-Johan Persson later recounted in an interview published on the Royal Swedish Academy of Engineering Sciences website.[94](private://read/01jas9tvg84jycb27616w1f9k8/#note-94)"

"In his youth, Stefan Persson was sent to England to prove his initiative. To test Karl-Johan's abilities, Stefan Persson has tasked him with creating a new brand. COS is described by H&M themselves as clothes that are "made to be worn across seasons and blend high quality with timeless design, clean silhouettes, innovative techniques, and functional details inspired by art, technology, and architecture."[112](private://read/01jas9tvg84jycb27616w1f9k8/#note-112) The first COS store was inaugurated in London on March 16, 2007. "At that time, we got to test entrepreneurship, to create something completely new even though we had the financial strength of H&M behind us. We faced small problems every day and also some big ones," Karl-Johan Persson recounted a few years later.[113](private://read/01jas9tvg84jycb27616w1f9k8/#note-113) As is well known, most new companies do not survive very long. Perhaps it is to secure his son's project that Stefan Persson buys the fashion company FaBric Scandinavien AB for half a billion kronor. In the purchase, he acquires the established brands Weekday, Monki, and Cheap Monday, which become part of the H&M group. COS survives the test. Karl-Johan Persson is ready for bigger assignments."

"Rolf Eriksen, who drove H&M to record profits after Fabian Månsson's departure, has often guided Karl-Johan Persson around the headquarters and taken him to important meetings. Karl-Johan studied at the European Business School in London. He also started the conference company European Network and runs, among others with the heir to another family dynasty, Finn Rausing, the English company Sportpro Limited which sponsors young sports talents. Three years earlier, he had been elected to the H&M board and he has also been in charge of H&M's expansion."

"What was not mentioned in the radio interview is that Karl-Johan Persson and the future Prince Daniel also have business dealings together. They are going to build luxury villas in Brazil. Brasil Development was established in June 2006 and owns the Brazilian company Fazenda Barra dos Carvalhos Empreendimento Imobilarios in turn. Besides Prince Daniel, Björn Ulvaeus from ABBA was also on the board for a while. 1,800 hectares in Pratigi, south of Salvador in northeastern Brazil. Rainforest, mangrove trees, and a several kilometers long, white sandy beach with a rich wildlife. 130 hectares are to be used for as many villas."

"In February 2009, it is then announced that Stefan Persson appoints his son Karl-Johan as CEO. His "strong and winning character" is emphasized at the press conference. The son is serious and has good leadership qualities, is a true competitor who plays tennis, golf, and skis, explains Stefan Persson. As a child, Karl-Johan gave his all on the tennis court, especially in the deciding sets where he slammed hard and won. Time and again."

"Why then do both Stefan Persson and Karl-Johan Persson repeatedly respond as if the alternative to decent conditions for the workers is to not be there at all? Serious critics who actually believe that H&M should stop trading with the third world are conspicuously absent. The demands they make are that H&M should ensure that there is a better working environment and higher wages where H&M's clothes are sewn up and that the UN declaration of human rights should be fulfilled."