"He who walks with billionaires, will become a billionaire." ~ Christopher Kozoriz

Stefan Persson - Quotes

Persson is the chairman and main shareholder in fashion company H&M

"An IPO has advantages, such as constantly being alert to controlling management."

"A store is more than a place to buy something. Today’s customers seek inspiration and experiences."

"Being first in a market is not everything. Customer loyalty is."

"Common sense. The commercial sense."

"Cost awareness is… crucial if we are to survive."

"Everyone steals with their eyes."

"Flexibility and speed."

"Hong Kong is a good fashion city."

"Loyalty is not won by being first. It won by being best."

"Fashion and quality at the best price." [H&M’s business motto]

"Fashion constantly changes and so do our customers."

"H&M never stop developing."

"I am the principal shareholder and therefore I will always have an active interest in the development of the company. Anything else would be hypocritical to say."

"In our industry, being first in a market is not everything. Customer loyalty is. And loyalty is not won be being first. It is won by being best."

"It always takes a lot more money to go to a new market."

"It can be dangerous to reveal too much and focus too heavily on the short-term orientation of the financial markets, instead of developing long-term visions and ideas."

"It is the informality. Anyone can speak with anyone, there are no formal meetings. Common sense. The commercial sense. Instinctively what is right. Flexibility and speed. Cost awareness is also crucial if we are to survive with our idea of the best price-performance ratio. Each crown (dollar) that is spent unnecessarily, has ultimately affect the price and can threaten our entire concept."

"I think it’s time to let young and competitive people show their skills. As a working chairman, I can more fruitfully spend my time on strategy issues and company policy." [In 1999 on deciding to become Chairman instead of CEO at the age of 51]

"It is not our job to run after their expectations, it is their job to interpret our results correctly." [On stock market analysts]

"It’s something we learned to do pretty well." [On producing fashion and quality at the best price]

"I will always have an active interest in the development of the company…"

"No one should have to choose between price and quality…"

"Show me a creative – no matter what industry – which now sits in a dark basement and is not looking at what the competition is doing. Everyone steals with their eyes."

"Sweden is not the centre of fashion."

"Sure, we are aware of the [fashion] collections, but we look everywhere – to outrageous street fashions, to what people are wearing in normal situations, to clothing from other cultures, to what is worn in films and at parties and in pubs and restaurants. We are not creating fashion. With out volumes, it would be too risky to do that. But we are an independent force as a design unit. We take inspiration from life as we see it. And we differ from ivory tower designers because we are very people- and customer-oriented."

"The continued expansion of H&M would have been hindered without someone else’s money. Now we are on the stock market and have to live."

"The interest is enormous. There’s good potential in the Asian market."

"The tremendous ups and downs in the stock market, I do not understand…"

"You have to sow before you can reap."

"You want everything absolutely in order and therefore give you more than when you’re an established and running efficiently. But the [stock] market is currently so shortsighted and they sometimes do not understand that you have to sow before you can reap. They want an immediate return, ideally in the first quarter."

"We are an independent force as a design unit."

"We are not creating fashion."

"We are very eclectic in our designs."

"We are very people, and customer oriented."

"We believe that no one should have to choose between price and quality, between price and fashion, between price and service."

"We have made our requirements more strigent."

"We take inspiration from life as we see it."

"What is the secret of our success? Primarily, it is the combination of fashion, price and quality that provide unsurpassed value to the customer."