In an interview on Squawk Box on the US television network CNBC, Jon Asgeir Johannesson, Executive Chairman of Baugur Group, spoke of “interesting times” in the global market, according to Frettabladid.
The programme introduced Johannesson as “the most powerful man in British retail”, a title earned due to the impressive empire his Icelandic company has amassed on the British high street. Baugur Group counts House of Fraser, Goldsmiths, Iceland supermarkets and Hamleys among its many outlets.
During the interview Johannesson said that Baugur sees interesting times ahead and that the company is always on the lookout for good buys in Europe and North America.
But the tycoon expects the biggest growth to come from India and China, where he says, “growth is so fast that a company can lose its competitive edge if growth is below 30%.”
When asked about the high profile court cases against him and others in the company, Johannesson maintained his claim the whole scenario was politically motivated, and stated that it seems highly unlikely any new charges will be brought.