Bloomberg Billionaires Index

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# 312 Anders Holch Povlsen $5.91B

Random fact: Family was target of blackmail attempts for 10 months in 1998.

Overview

Holch Povlsen is the chief executive officer of Bestseller, a Brande, Denmark-based retailer that sells clothing under the Jack & Jones and Vero Moda labels. The closely held company had revenue of 3.3 billion euros ($4 billion) in the year to July 2018, and owns half of a Chinese joint venture that has more than 7,000 stores.

As of :
Last change -$51.1M ( -0.9%)
YTD change +$1.89B ( +47.1%)
Industry Retail
Biggest asset Bestseller AS
Citizenship Denmark
Age 47
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Anders Holch Povlsen's net worth of $5.91B can buy ...

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troy ounces of gold
0
barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Holch Povlsen owns retailer Bestseller, which his father co-founded with his wife, Merete, in 1975. The fortune has been credited to Anders Holch Povlsen -- rather than his father Troels -- since Aug. 22, 2018, because he's the company's chief executive officer and owns the shares.

Bestseller releases revenue, income and store numbers on its website and reported sales of 3.3 billion euros ($4 billion) in the year to July 2018. It's valued using the average enterprise value-to-sales and enterprise value-to-Ebitda multiples of four public peer companies: H&M, Superdry, American Eagle and Gap.

Bestseller controls a 50 percent stake in Chinese retailer Bestseller Fashion Group Co. The Tianjin, China-based company doesn't release financial information. Revenue is derived from its share of the Chinese apparel and footwear market in 2017, compiled by researcher Euromonitor. It's valued using the average enterprise value-to-sales multiple of two public peers: Bosideng and Shanghai Metersbonwe Fashion and Accessories Co.

The billionaire owns stakes in Zalando, Asos and Numis, according to stock exchange filings. The cost of these share purchases are included as a liability. His real estate holdings in Scotland are valued at their purchase price, according to a June 2018 article by magazine Scottish Field. Holch Povlsen held 13 percent of closely held fintech startup Klarna in 2018. The company was valued at $5.5 billion in 2019, according to a Bloomberg News report dated Aug. 7, 2019.

Jesper Stubkier, a spokesman for Bestseller, declined to comment on Holch Povlsen's net worth.

Biography

Birthdate: 11/4/1972
Family: Married, 4 children
Education: Berlin School of Economics, Anglia Ruskin University

Anders Holch Povlsen was born in Ringkobing on the west coast of Denmark on Nov. 4, 1972, according to a profile on Zalando's website.

His father Troels bought his own clothes shop in the town by 1974, and a year later founded Bestseller with his wife, Merete Bech, in Brande, focusing the business on women's fashion. Children's clothing was introduced in 1986, and menswear two years later. The company agreed to establish a Chinese joint venture, Tianjin-based Bestseller Group in 1996, which operated 6,000-stores in the country by 2012.

His purchases of Scottish land have made him one of that country's largest private landowners, according to a June 2018 article by magazine Scottish Field.

Three of his four children were killed in bombings in Sri Lanka in Easter 2019.

Milestones
  • 1972 Anders Holch Povlsen is born in Denmark.
  • 1975 Father and mother start Bestseller.
  • 2001 Becomes Chief Executive Officer of Bestseller.
  • 2010 Bestseller begins investing in online retailer Asos.
  • 2013 Buys 10 percent of Zalando.
  • 2014 Zalando lists on the Frankfurt Stock Exchange.
  • 2017 Invests in payment provider Klarna.
  • 2017 Starts to buy shares in broker Numis.