Day Birger et Mikkelsen, one of Denmark's best-known fashion houses, has recently expanded into retail, to strengthen both the business and the brand. The company is also considering further international expansion.
Day Birger et Mikkelsen chief executive officer Keld Mikkelsen said: 'I am very pleased with this agreement. Baugur Group will offer us considerable retail development opportunities and will take a long-term view, which will create an exciting workplace for our employees in the future.
'The company will continue with our existing management, but will strengthen our focus on developing our international retail competencies.'
Baugur Group chief executive officer Jon Asgeir Johannesson said: 'We see this investment as a strong addition that fits well with our retail portfolio in Denmark and the UK. We are excited about the many synergies it will enable us to create across our retail businesses.'
Baugur Group is also a 75 per cent shareholder in M-Invest, with B2B - an investment company owned by Birgir Thor Bieltvedt - owning the remaining 25 per cent. M-Invest will be focusing on further investments in strong fashion retail brands, with international appeal and growth potential.
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