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.
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".
Vero Moda and Jack & Jones owner Bestseller has said that it made “an unexpected profit” in the latest year, despite the pandemic. The better-than-expected outcome means it will avoid its first-ever annual loss.