Since 1975, the Swedish design house Svenskt Tenn has been owned by the Kjell and Märta Beijer Foundation, a charity that promotes scientific research. Today, every krona of profit made by the much-loved store, which was originally founded in 1924, goes to support research in areas such as sustainability, genetics, biomedicine and pharmaceuticals. For Maria Veerasamy, the CEO of Svenskt Tenn since 2011, the structure means balancing commercial success with a higher purpose: to sustain craftsmanship, uphold timeless design and fund knowledge for the future.

Benjamin Dane: What does it mean in practice for Svenskt Tenn to be owned by a nonprofit foundation?

Maria Veerasamy: We are a profitable company, but the difference is what happens with the profit. All of it goes to research through the foundation. Profitability is still expected—without it we cannot ensure the long-term stability of the company, nor provide grants and sustain our suppliers, many of them small Swedish workshops. It’s a very unique way of running a business.

BD: How does this structure affect your role compared with a traditional luxury brand with shareholders?