Hanssen Brands acquires Bruuns Bazaar

Danish fashion label Bruuns Bazaar has been acquired by retail group Hanssen Brands, for an undisclosed sum on Thursday. News of the acquisition comes after Bruuns Bazaar, which includes the brand BZR, filed for bankruptcy earlier this month.

Hanssen Brands stressed that its acquisition of Bruuns Bazaar and BZR gives both labels the chance to recover and grow stronger to ensure their survival. According to the retail group, the labels are also a strong fit for Hanssen Brands long-term growth strategy, as they aim to develop a solid portfolio of international brands.

"Our ambition is to find the right partner to drive Bruuns Bazaar and BZR forward, with respect for what its customers have come to expect from it in terms of quality and the spirit created by Bjørn and Theis Bruun [founders of the label]," said Søren Hanssen, Chief Executive Officer at Hanssen Brands in a statement, as the group is set to focus on developing a stable foundation for the label to continue evolving.

Bruuns Bazaar was originally founded by brothers Bjørn and Theis Bruun in 1994 and is famed for its Scandinavian minimalistic style. Prior to its acquisition, the label was part of the Scandinavian Designer Group, which included brands Baum und Pferdgarten and Six Ames, both of which were unaffected by the bankruptcy.