Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Bestseller owner takes Zalando stake

Bestseller owner Anders Holch Povlsen has bought a 10% share in German etailer Zalando.

Holch Povlsen, who set up Danish brand house Bestseller, which owns 16 labels such as Jack & Jones, Vero Moda, Only and Selected, has acquired shares from venture capitalist funds including European Founders Fund and Holtzbrinckand retail group Tengelmann.

It has not been disclosed how much he paid for the 10% share.

Zalando, which was founded in 2008, turned over €1.15bn (£989m) in 2012, breaking even its core territories of Germany, Austria and Switzerland. For the first quarter of this year net revenues were €372m (£320m), a 74% increase on 2012.

Rubin Ritter, joint managing director of Zalando, said: “This is an important step in the strategic development of our shareholder structure. Anders Holch Povlsen will be a strong and long-term-oriented shareholder and together we want to design the future of fashion e-commerce.”

David Schneider, co-founder and managing director of Zalando, added: “Anders Holch Povlsen has been following Zalando’s development very closely and he knows our strengths.”

Bestseller also spotted the early potential in etail giant Asos, in which it holds a 28% stake.

Readers' comments (1)

  • it wont be long before it becomes ZALASOS OR ASOSLAND

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.