EY Family Business award winners 2019-20 - Sweden
SIBA Invest AB
A ”customer is king” mindset sees SIBA Invest AB grow from a corner shop to a retail giant.
We are delighted to celebrate the recipients of the EY Family Business Award of Excellence 2019-20, an honor that recognizes excellence in family businesses. Congratulations to this year’s winners for Sweden:
Martin Bengtsson – CEO, SIBA Invest AB
Fabian Bengtsson - Chairman of the Board, SIBA Invest AB
Isabel Bengtsson - Member of the Board, SIBA Invest AB
SIBA, one of the leading retail companies in the Nordic region, began life in 1951 as a small corner shop selling radios and chandeliers. Over three generations, the Bengtsson family has grown the business to include retail, finance and real estate.
SIBA's success has not been without its hurdles. In 1961, when founder Folke suddenly died, his son, Bengt, took over the business. It was in bad shape financially, but over the next four years Bengt transformed the business and succeeded in building a debt-free company. Before long, he was ready to open Sweden’s first department store for radio and television with the motto, “Lower prices — better service.” It was to change the face of the home electronics industry.
Fabian and Martin represent the third generation and with Fabian’s flair for understanding people and organizations, coupled with Martin’s analytic mindset, the brothers have been unstoppable in growing the business. They have embraced the future with a strong focus on digitalization and innovation, at the same time continuing their father’s legacy, “Our father’s lessons and unique ability to see opportunities and create success live on and permeate all our companies.”