Baugur: Will Retail's Vikings Raid Saks?

Iceland's Jón Jóhannesson, who with his father created a global retail fashion giant, aims his takeover strategy at the U.S. luxury chain
Photo credit: Chris Casaburi

With his crisply tailored black suit and collar-length blond hair, Jón Asgeir Jóhannesson doesn't look much like a savage Viking raider. But over the past decade the 40-year-old Icelander has carried out corporate conquests that would make his forebears proud, building his Baugur Group into the biggest fashion retailing conglomerate in Britain. And lest anyone forget Jóhannesson's heritage, he has outfitted Baugur's London offices with a 10-foot-tall statue of a viking (the effect is softened somewhat by the Fender Stratocaster guitar strapped to its back, a souvenir Jóhannesson picked up at the Hard Rock Café in his native Reykjavik).

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