Bestseller increases stake in Asos
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London - Danish fashion group Bestseller, has boosted its stake in British e-tailer Asos to just over 29 percent according to regulatory filings on March 14.
Bestseller increased its stake in Asos, which is holds through its investment vehicle Aktieselskabet af 5.5.2010, from 27.6 percent to 29.16 percent. The move sees Bestseller stake in Asos sit just under the 30 percent threshold which would mean it would have to make a mandatory offer for the company according to UK law.
The Danish fashion group, owned by Danish billionaire Anders Holch Povlsen, has been quietly increasing its stake in Asos over the years, growing from a 6 percent stake in 2010. At the moment Bestseller is the largest stake holder in Asos, followed by The Capital Group Companies (10.38 percent). Baillie Gifford (8.7 percent) and Asos founder and former CEO Nick Robertson (6.59 percent).
Bestseller is best known for the high street fashion brands Vero Moda, Vila, Only and Jack & Jones. In addition to holding a stake in Asos, the Danish group has also holds a stake in fellow online retailer Zalando.
Photo: Asos Photo Studio, Courtesy of Asos