From 1 August 2014 onwards, Henrik Bunge will be Björn Borg's new CEO. He has to get the underwear manufacturer back on track, as the company is struggling both in terms of turnover and profitability.
Bunge packs retail experience
Bunge studied law at the Uppsala University and strategic sales management at Harvard. He will replace Henrik Fischer as Björn Borg's CEO, after Fischer had taken over the position temporarily in November following Arthur Engels' sudden departure.
Bunge had worked for Swedish clothing chain Peak Performance up until October 2013, after spending six years at Adidas as the responsible for the 8 Northern markets. Prior to that, he was sales and marketing director at sleep comfort chain Hästens.
Chain goes through rough patch
Björn Borg brought Bunge to the company because he had managed to increase volumes and profitability rather quickly with his previous employers. The underwear brand is going through a rather rough patch, with net turnover dropping 9 % last year, to 449.2 Swedish krona (56 million euro). Net profit even plummeted 70 %.
The Netherlands, one of its prime markets alongside home nation Sweden, were a big disappointment as its Dutch distributor decided to close down most of its stores as visitor numbers dwindled 20 to 25 % the past three years.