The Bestseller group’s founder has bought a 10.1% stake, via his holding company Heartland, in the company owned by Israeli group Fox. Previously, Povlsen had bought stakes in Asos and German fashion e-tailer About You.
Bestseller has taken advantage of Denmark’s Covid restrictions to upgrade its Selected stores and said the “stores in Denmark have awoken from hibernation with a new digital tool to optimise their in-store experience”.
The Jack & Jones owner said a long-standing a major denim supplier has worked with it to secure “farm-to-fashion traceability for its indigenous Organic Cotton" with the firm saying this is a "game-changer" development.
Following its recent Jaeger buy, M&S is diving deeper into selling additional fashion brands with news Thursday that it will add Hobbs, Joules, Phase Eight, White Stuff, Jack & Jones, Sloggi and Sosandar to its offer.
Danish fashion giant Bestseller's results for the 2019/20 year were better than expected, despite “massive challenges” this spring. But it said that it will need "significant hard work to get back to where we were".