Karl-Johan Persson – Hennes & Mauritz has mindset of small company

Hennes & Mauritz is still run like a small family business, focusing on long-term results and maintaining the founder’s informal management style, despite being one of the biggest clothing retailers in the world, according to the Swedish group’s chief executive.

In an interview with the Wall Street Journal, family member Karl-Johan Persson said H&M tends not to react as strongly to short-term market pressures as other publicly quoted companies.

“If you are a public company it’s very tempting to do what’s best in the short term. It’s not a problem to pump up profits — we could easily do that — but we have to balance the short term and the long term,” he said.

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