Rains co-founder Daniel Brix Hesselager takes over as CEO

In a post on his LinkedIn account, Steen Borgholm has announced he is stepping down from the role of CEO at Danish rainwear specialist Rains. “No drama, simply a matter of priorities,” wrote Borgholm, thanking the staff at Rains, of which he has been in charge for two-and-a-half years.

“Since joining in early 2023, it has been a privilege to work closely with a true entrepreneur and an outstanding team. We [have] launched a 2027 strategy. Following the geopolitical turmoil this spring, new priorities emerged, which are best carried forward by the founder,” wrote Borgholm. 

Co-founder Daniel Brix Hesselager, who set up Rains in 2012 together with Philip Lotko, is therefore once again in charge of the Danish brand. He announced the changeover to the Danish press, indicating that the company wants to go back to the business model embodied by its founders.

In 2024, Rains generated record revenue of DKK721.5 million (€97 million), a figure three times higher than in 2020. The revenue forecast for 2027 is DKK1.5 billion. To make sure it reaches its goal, Rains has invested in several new store openings (it currently operates some 40 stores worldwide), in new hires, and new headquarters in its home town of Aarhus. The investments have had an impact on the brand’s profitability of late.

In the last few years, Rains has been showing in Paris during menswear week, and has worked at boosting its reputation and creating a powerful visual image, in order to establish itself in the premium segment. A strategy that has enabled Rains to stand out in the market and win over several department stores. Among others, it is currently available at La Samaritaine in Paris. The brand has also added a lifestyle touch to its range, and launched Home Away, a line of products inspired by outdoor living distributed through Rains stores.

The latter appear to be the cornerstone of the brand’s expansion. In the announcement to the press, the founders said it’s aiming to reach the 100 store-mark by 2029, and has sets its sights on the USA and Asia as growth markets.

Meanwhile, Borgholm, formerly the boss of footwear and luggage brand Ecco, has joined the board of directors of Swedish outdoor apparel and equipment brand Haglöfs, recently bought by LionRock Capital.