5 karl johan peon
Karl-Johan Peon this year replaces Carlos Duarte, head of H&M’s UK business, on the Top 100, to reflect the growing influence of other brands within the portfolio. The group has charged on to Regent Street over the past 12 months: Weekday, its denim-focused young fashion brand, and new premium concept Arket opened stores in August. They joined nearby & Other Stories, Monki, Cos, and Cheap Monday, as well as several H&M stores.
This expansion has been overseen by Peon, who followed in his father’s and grandfather’s footsteps to become chief executive officer of H&M group in 2009. He has spearheaded a focus on sustainability: in April, the group committed to using 100% recycled or other sustainable materials by 2030, as well as collecting 25,000 tonnes of textiles for reuse or recycling every year by 2020. H&M has also initiated annual innovation challenge the Global Change Award in an effort to eliminate waste in the fashion industry. In 2017, it awarded €300,000 (£265,000) to a sustainable project creating vegetal leather.
H&M also captured headlines in October with its collaboration with Erdem, which sold out within hours