Danish fashion group Bestseller has agreed to buy M and M Direct, the British online and mail order retailer, from its private equity owners for up to 140 million pounds ($235 million), the firms said on Monday.
Danish group Bestseller – parent to brand Vero Moda, Jack&Jones and Only – has said it is unsatisfied with its 2012/2013 end of year results, despite posting a 6% increase in sales to 2.6 billion euros.
Fashionmag reported the news last summer. For several months, Bestseller has been working on the launch of a new entry-level men's brand. Only & Sons is all about denim and will debut at Berlin Fashion Week.
Danish fashion magnate Anders Holch Povlsen has taken a 10 percent stake in Europe's biggest online fashion retailer Zalando from early stage investors as bricks-and-mortar retailers look to take a slice of booming e-...