Martin Sjöström

THE CHANGE MAKER

Former CEO & CFO, Entrepreneur

After a four-year stint as a Chartered Accountant in the City of London, Martin Sjöström decided that the corporate world wasn’t for him. Instead, he wanted to use his skillset in a more impactful way and shifted his focus to supporting high-potential, growing companies. As the CEO & CFO of Acne International, Martin was instrumental to the company’s success. His latest challenge is helping a tech start-up within the drinking water sector. 

How did your career start? 

After I finished my BA in Philosophy, Politics & Economics at Oxford University, I pursued a corporate career in the City of London. My first proper job was for an accounting firm, and l loathed it from day one. To be one in the crowd of 4,500 other accountants wasn’t for me. I found it draining and boring. I persevered for four years to earn my Chartered Accountant qualification, but then left as soon as I could. 

I always had two groups of friends: one from the formative years at the Swedish School, and the other from Oxford. My university friends all ended up in the corporate world, while the Swedes were entrepreneurial and did creative things. I found myself torn between the two. 

When I got the opportunity to become the CEO & CFO of Acne, I jumped at it. I saw the potential of the company and it was exciting. As soon as you entered the office, you understood that they were onto something special. The atmosphere was infectious, and the ambition was huge. The company only had 10 employees, but the goal was to become an international company from day one. I remember that the business cards had a map of the world embossed on the reverse. One of the company’s mottos was Discover how far you can go, and that’s what we ended up doing. 

Acne started out as a creative collective which over time established a high-end fashion brand, a magazine, a production house, and an advertising agency. What was your role in the company’s growth? 

The first step I took was to establish a structured financial framework for the company. I noted that parts of the company were highly profitable, whereas others were in the early stages and required investment. I approached it as building a small conglomerate, setting up a structure with different legal entities. During my seven years as CEO & CFO at Acne, I helped transform the company, driving the annual turnover from 10 m SEK to 200 m SEK. 

After you left Acne, you were the CEO for fashion brands Whyred and Swedish Hasbeens, worked for Björn Borg and co-founded a sustainable marketplace for H&M. Are you an entrepreneurial person? 

No, but I seem to latch on to them. My strength is that I can help nurture the ideas of the creative people around me and make them reach their full potential. I’m good at turning ideas into reality and getting things done. Having a clear structure, goals, and processes are vital. Fashion is so much more about finance and logistics than you think. While it’s easy to view it as purely a creative business, a significant part of the business is about getting things from A to B. To be profitable, you need the right product in the right place at the right time. 

“Studying at Christ Church College at Oxford University was a fantastic experience.
For me, it’s the best place on Earth.”

Since 2020, you have been involved in WAYOUT, a sustainable tech company within the drinking sector. How did you go from fashion to water?  

I knew the founders of WAYOUT, and it felt right to work on a product that is both commercially viable and sustainable. It was time to do something for the greater good of society. I had been working with sustainability in previous roles, so moving to WAYOUT was a natural progression. Eliminating single use plastic bottles, just felt right, and I thought to myself ”let’s do this”. 

What excites you about your career?

I’ve always been motivated by learning and if that were to stop, so would I. Having worked in accountancy for four years, which I hated, I know that true success comes from genuinely enjoying what you do. 

If you were to give one piece of advice to your young self, what would that be?

Make sure that you actually are doing the right things, rather than just doing things the right way. Sometimes, getting caught up in the detail can prevent you from seeing the bigger picture.  

You’ve studied at Oxford University and are also a Chartered Accountant. How important has your formal education been for you? 

Super important. I always say I learned to write while studying accountancy, where I learnt the importance of precision and efficiency. Understanding the legal aspect has also been vital in my job. 

Do you think going to a prestigious university is important in today’s competitive job market? 

Absolutely. It distinguishes you and puts you with like minded peers. 

Studying at Christ Church College at Oxford University was a fantastic experience. For me, it’s the best place on Earth. I’ve been back a few times for reunion dinners, and a few years ago, I took my son there to see the college, and he was blown away. The historic environment is like something out of fairytale, with fantastic facilities. 

The Swedish School in London aims to nurture global citizens who have an international outlook. Is this something which is important to you and your family? 

All three of our children have shown an interest in studying abroad, and we, as parents, have actively encouraged it. My oldest daughter took part in an exchange program with a school in Hawaii. And our son is about to start the final year of 6th form at the Swedish School in Nairobi, Kenya. He fell in love with Africa whilst on our family holiday and wrote the application himself when we got back to Sweden. 

What is the fondest memory you have from the Swedish School in London? 

The fondest memories are of the friends I made. We still hang out as best friends and have a very strong bond.