Bestseller reports 21 percent rise in annual pre-tax profit

REPORT_ Bestseller, having brands like Jack & Jones and Vero Moda under its portfolio, said that the company’s turnover reached 2.7 billion euros (3.3 billion dollars) and pre-tax profit of 228.2 million euros (283.8 million dollars) during the financial year 2013/14.

“A 21 percent increase on the bottom line indicates positive signs of improvement in our company. It’s our core business that has contributed to these positive results during the past year. Through an increased focus on our operations and through an even closer collaboration with our partners and customers, we have managed to grow and create better results in a challenging market,” opined Bestseller’s CEO Anders Holch Povlsen.

Povlsen said that the synergy between online and offline activities is more crucial than ever, and e-commerce increasingly contributes to the positive development. “We will make an even greater effort to ensure that we are among the winners in the e-commerce business. Our goal is that the digital options available become a larger part of Bestseller’s DNA, and that the link between the physical stores and our online activities becomes even more natural,” Povlsen explained.

Bestseller is a family-owned clothing and accessories company founded in Denmark in 1975 by Merete Bech Povlsen and Troels Holch Povlsen. It has presence across 38 markets worldwide and its products are sold in about 53 markets.