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Frasers may be raising ASOS stake but Bestseller owner is too

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2 weeks ago

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We’ve had a lot of stories about Frasers Group building up its stake in ASOS. But there’s been less attention focused on another key ASOS shareholder — Bestseller’s Anders Holch Povlsen.

Asos

The man whose holding company last year bought a 75% stake in ASOS’s Topshop and Topman brands is now the UK fashion e-tail giant’s biggest shareholder.

He and his family own 28% of the business’s shares, leapfrogging the stake held by the Mike Ashley-controlled Frasers Group.

The significant point here is that rules for London Stock Exchange-listed companies mean when an investor reaches a stake of 30%+, it must make a formal takeover offer.

This can be waived — such as with Frasers’ 37% stake in Mulberry where a takeover isn’t an issue because another shareholder has an even bigger stake (Challice with 56%+). Frasers did launch an unsuccessful takeover attempt but wasn’t obliged too.

However, in the case of ASOS, the rules are likely to be applied.

Whether Holch Povlsen ever had any long-term plan to take over ASOS may be irrelevant given that the Frasers stake-building process may force him to act.

As well as owning Bestseller, he already has a big stake in ASOS’s Germany-based rival Zalando and in About You, which Zalando is acquiring.

It’s possible that ASOS could be more open to an approach from him than from Frasers as it has rebuffed Ashley previously. In 2023, the Telegraph reported that he suggested closer cooperation between his company and ASOS, but ASOS opted for an approach from Holch Povlsen. The deal to sell Holch Povlsen control of Topshop was a further sign of his strong relationship with the UK firm.

The Telegraph has also approached ASOS, Bestseller and Frasers about the situation regarding the current shareholdings but none of them have commented.

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Levi overlooks tariff-driven trade upheaval in unchanged outlook

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44 minutes ago

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April 7, 2025

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Bloomberg

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April 7, 2025

Levi Strauss & Co. maintained a full-year outlook that excludes any impact from sweeping new US tariffs that are poised to significantly raise costs for multinational apparel companies.

DR

The San Francisco-based company said its guidance for fiscal 2025 “assumes no significant worsening” of macroeconomic pressure on consumers, supply-chain disruptions, increased tariffs or similar factors. Levi sees organic revenue growth, which excludes items such as currency impact and divestments, growing 3.5% to 4.5% this year.

Shares alternated between gains and losses in extended trading. Since President Donald Trump announced the tariffs on April 2, the stock has declined 19%.  

Chief Financial Officer Harmit Singh said in an interview it’s “difficult to forecast or plan at this stage” for the tariffs’ impact on consumers. He said the company is focused on its relationships with vendors and the cost base for its products. 

Chief Executive Officer Michelle Gass said the company is approaching the topic of tariffs with “urgency, but not being overly reactive.” 

Levi is one of the first retailers to report earnings after Trump unveiled sweeping tariffs last week. The company has previously said that its sourcing from China and Mexico to the US isn’t material.  

The company says it sources about 5% of its goods in the US from Mexico and 1% from China. 
 



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Balenciaga and Scholl launch footwear collaboration

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1 hour ago

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April 7, 2025

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Balenciaga has teamed up with Italian heritage brand Scholl to launch a footwear capsule collection.

Balenciaga and Scholl launch footwear collaboration. – Balenciaga x Scholl

The capsule merges the Parisian fashion house’s savoir-faire with Scholl’s expertise in comfortable orthopaedic footwear and insoles to introduce footwear with cork soles and footbeds, including heeled mules, booties, and boots, flat sandals and mules crafted from premium materials like Nappa sheepskin and calfskin. 

Notable design features include metal buckles inspired by Scholl’s original 1956 Pescura sandal and reimagined beechwood platform clogs with perforated uppers. The collaboration also introduces co-branded versions of Balenciaga’s iconic Pool Slide Sandals.

Debuting as part of Balenciaga’s Fall 2025 collection, the collaboration stems from creative director Demna’s vision “to create the most comfortable heels ever made, infusing the House’s distinctive silhouettes with Scholl’s unparalleled comfort.”

The collection is now available at select Balenciaga boutiques worldwide and online.

Last month, Balenciaga launched a Brand Ambassador Fanclub Series, featuring a lineup of global icons, including Isabelle Huppert, Kim Kardashian, Michelle Yeoh, Nicole Kidman, and PP Krit Amnuaydechkorn.

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Gente Beauty secures investment from Webster Capital

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2 hours ago

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April 7, 2025

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Brazilian body care brand Gente Beauty announced on Friday a significant investment from private equity firm Webster Capital. 

Gente Beauty secures investment from Webster Capital. – Gente Beauty

Gente Beauty is the first skin and body care brand to offer lymphatic-drainage products, recognizing the importance of treating your body with the same care as your face. Financial terms of the transaction were not disclosed.

“This partnership with Webster Capital is a game-changer for Gente Beauty. With their support, we can expand our reach and continue redefining body care through innovation and Brazilian beauty rituals,” said Marianne Fonseca, founder of Gente Beauty. 

“Our mission has always been to empower people to care for their bodies with intention, and this investment brings us one step closer to making self-lymphatic drainage an essential part of everyday wellness.”

As part of the investment, Webster Capital, known for its strategic focus on consumer-packaged goods, direct-to-consumer e-commerce, and retail expansion, will bring its institutional knowledge and operational support to help scale the brand. 

Tony Olson, founder of Webster Capital, brings a wealth of experience to the partnership. Previously, he served as CEO of Spins for over two decades, transforming it into a leading provider of market insights for the natural, organic, and wellness sectors.

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