Danish group Bestseller United acquires majority stake in Bianco Footwear

Bestseller’s CEO, fashion maven Anders Holch Povlsen, explained that the investment follows a thoughtful process, as they have been considering the idea of collaborating closer with Bianco Footwear over the past fifteen years.

“We have known the founder behind Bianco Footwear for many years, and I know that we share many of the same ideas and beliefs. At several occasions over the past 15 years, we have discussed the possibility of a closer collaboration between Bestseller and Bianco, and now the time has come,” comments on the acquisition Anders Holch Povlsen, who gets the bulk of his fortune from retailer Bestseller but also has valuable stakes in online retailers Zalando, and Asos.

Povlsen adds that “Bianco Footwear is heading in the right direction, and I hope that we can help the company expand its wholesale and online businesses. Moreover, I trust that a closer collaboration will become beneficial for both Bestseller and Bianco in the long run.”

According to the statement issued jointly by both companies, Bianco Footwear will continue as an independent brand with its own organisation and management.

The purchase is conditional on approval from the competition authority. This is expected to happen at the beginning of February 2016.