The collapse of the Icelandic banking system sent Jón sgeir Jóhannesson, his Baugur investment vehicle and all its retail investments, which include Mosaic Fashions and Jane Norman, into meltdown in October. He was also splashed across the newspapers and was accused of over-paying for and over-borrowing against his investments.
Jóhannesson’s experience this year and the Baugur investment model has changed the way the private equity and banking sectors look upon the retail sector. His legacy is likely to have long-standing implications for future retail deals.
It is for this massively influential reason that he climbs seven places up this year’s list. He may yet manage to salvage some of his empire, but whether he will make the Drapers Top 100 in 2009 is anybody’s guess.