The consumer’s flight to discounted brands amid the economic crisis sent Paul Sweetenham rocketing up the Top 100 list this year.
Sweetenham has saved the bacon of brands desperately needing to clear overstocks – so much so that TK Maxx’s made-to-order buy is rumoured to have shrunk significantly.
European sales are expected to reach £1.3 billion this financial year, and expansion into Germany, a first central London store on Kensington High Street and rumoured plans for a transactional website have brought TK Maxx to the fore.
Neil Clifford, chief executive of Kurt Geiger and a former colleague of Sweetenham’s, says: “No matter how much I think I know about my business, Paul always seems to know that little bit more. Our daily and weekly retail chat since 1988 has kept us competitive and is a key reason for how I have got to my current position.”