Stein Erik Hagen

Early Life

Stein Erik Hagen was born in Oslo, Norway, on July 22, 1956. His father, Odd Hagen, was involved in the retail sector, fostering an entrepreneurial environment. At age 20, Hagen began his career as a store manager in his father's business. He completed his secondary education at Wang Handelsgymnasium in Oslo in 1975 and studied at Kjøpmannsinsituttet (now part of BI Norwegian Business School).

Rise to Success

In 1977, Hagen co-founded the Rimi discount supermarket chain with his father. Rimi expanded rapidly by focusing on low prices. Hagen later sold his stake in Rimi and invested in various Scandinavian enterprises through his holding company, Canica AS. He then invested most of the proceeds from the sale into Orkla.

Key Business Strategies

Hagen's business strategies involved low-cost retail models, which disrupted the traditional grocery market. He focused on building market share and making strategic investments. He established Canica AS in 1985 as an investment vehicle.

Philanthropy

Stein Erik Hagen is involved in philanthropy, supporting medical research, particularly cardiovascular diseases, prostate cancer, and autoimmune liver disorders. He established the Stein Erik Hagen Foundation for Clinical Heart Research.