AMANCIO ORTEGA
Co-founder and board member
Zara / Inditex Spain
GERARD MULLIEZ Founder
Auchan Group France
Third-generation Gerard Mulliez expanded his family’s high street clothing business into the world’s principal distribution group with 639 hypermarkets, 2,874 supermarkets, and $57.7 billion in revenue (2018). He was succeeded as president by his nephew Vianney in 2006, chosen over Mulliez’s own son Arnauld. The ownership and management of the business is monitored by the family through L’Association Familiale Mulliez— co-owned by thousands of family members. Since Vianney’s appointment, the company has been further internationalised, entering a number of emerging markets.
Ortega and his then- wife Rosalía Mera opened the first Zara store in 1975, which produced popular fashion at low prices. After its success, he created Inditex in 1991 as a holding company for Zara but soon began expanding, creating casualwear stores Pull and Bear, Bershka, and acquiring fashion brands Stradivarius, and a 65% share in Massimo Dutti. Inditex is now the biggest fashion group in the world, posting revenues of $29.4 billion in 2018, and Ortega owns 60% of the company.
FRANÇOIS-HENRI PINAULT
Chairman and chief executive Kering Group France
KARL-JOHAN
PERSSON Chief executive
Hennes & Mauritz (H&M) Sweden
Persson is the third- generation of his family to head up the fast fashion favourite. He joined the family business in an operational role, working his way up through the company before taking the reins from his father, Stefan Persson in 2009. His appointment came at a challenging time for retailers, but Persson tackled the downturn by going on the offensive and opening a host of new stores abroad, expanding it into a global $22.6 billion revenue powerhouse with more than 4,400 stores in 66 countries.
Second-generation Pinault heads the $15.3 billion revenue making luxury group, which owns fashion brands Saint Laurent, Alexander McQueen, and Gucci. His father, François, was responsible for changing the direction of his wood and building materials company towards luxury after buying a controlling stake in Gucci Group in 1999. Since succeeding his father in 2005, Pinault has further expanded Kering’s portfolio with acquisitions of watchmakers Girard- Perregaux and Ulysse Nardin, Italian tailor Brioni, jewellers Qeelin and Pomellato, and German designer Tomas Maier.
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ISSUE 75 | 2019
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