H&M reinforces international helm with new head of global leasing

H&M rearranges its global helm. The Swedish company has appointed Jesper Magnunsson, former head of expansion for Spain and Portugal, as new head of global leasing. The executive will be based in Stockholm.

As usual, H&M has turned to in-house talent for its open positions. Magnunsson, who has worked for the Swedish company for more than ten years, was head of leasing in Hong Kong, Taiwan and Macau, as well as head of global expansion of new business and franchises of the chain.

The company has also named Maria Eistrand to replace Magnunsson and continue the group’s expansion in Spain and Portugal. The executive started working in the company in 2013 where she led the expansion of H&M in China and South East Asia for two years.  

H&M has appointed Jesper Magnunsson as new head of global leasing 

The company is in the middle of a reorganization process. In 2018, the company planned to open 335 stores of all its chains and close another 160 stores. The company has also tried new formats like rental with its COS chain in China and its new store in Berlin that focuses on its local market.

On a global scale, H&M ended its fiscal year 2019 with a revenue of 232,765 million Swedish krona (24.6 million dollars), up 11% year-on-year. In the fourth quarter, H&M sales increased by 9%, partially weighed down by calendar effects.