Scandinavia has often punched above its weight in retail and perhaps a new, less familiar name, is poised to make a big impact.
Scandinavia has often punched above its weight in retail and perhaps a new, less familiar name is poised to make a big impact.
Now might Denmark, specifically Anders Holch Povlsen and his family-owned Bestseller business, perhaps establish a similar status in ecommerce?
Bestseller was in the spotlight this week as it snapped up etailer MandM Direct – which had intended to float - for £140m.
The deal is only the latest by the Danish outfit which, while a little below the publicity radar in this country, has established extensive power and influence.
It is for instance the biggest shareholder in Asos. Anders Holch Povlsen holds too a 10% stake in Zalando, the Germany-based etailer seen as one of Asos’ biggest rivals.
Last year Bestseller turned over €2.6bn generating pre-tax earnings of €192.4m.
Best known for brands such as Jack and Jones and Vero Moda, Bestseller has 3,000 shops worldwide, including in the UK.
There is no reason to think that Bestseller’s acquisition of MandM might undermine its relationship with Asos, through which Bestseller sells its lines.
But expect the Danish star only to rise in prominence as it sets its sights on a bigger presence in the UK and overseas.