Danish retailer Bestseller is laying off 750 people, Swedish giant H&M fears it will have to cut tens of thousands of jobs due to the coronavirus crisis.
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Danish fashion group Bestseller (Jack & Jones, Vero Moda, Only) has increased its turnover by 7 % in its financial year 2018/19. However, due to major investments, the profit was lower than a year earlier.
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The investment group behind the Danish fashion group Bestseller, Heartland, has taken a 29 % stake in German e-commerce platform About You in a recent capital round, which raised About You about 300 million dollars.
The Danish Bestseller group has taken a significant stake in German fashion platform About You. A capital increase of some 250 million euros should enable further growth of the online retailer.
British fashion retailer French Connection, known for its FCUK quote, has sold its Toast subsidiary to Danish clothing group Bestseller, which also owns brands like Vero Moda and Jack & Jones.
Fashion chain Vero Moda, part of Danish Bestseller, will launch a new Aware collection in the fall, which should become even more sustainable than its current Green Attitude collection.
German Zalando and Danish Bestseller have joined forces in a joint venture, called FashionTrade.com, to supply the Bestseller chains.
Anders Holch Povlsen, who owns Danish online retailer Bestseller, has acquired the Miinto Group, a Danish online platform with some 20,000 fashion brands' products.