Bestseller posts record results for 2021-22, but prudence is in order

By

Sarah Ahssen

Translated by
Nicola Mira

Published
Oct 10, 2022

In fiscal 2021-22, closed on July 31 2022, Danish fashion group Bestseller recorded a 33% sales increase, reaching DKK35.24 billion, equivalent to €4.7 billion. The group’s pre-tax profit was DKK6.08 billion (€817 million), well up from the DKK 4.6 billion generated a year earlier. A record result for Bestseller.

“We performed extremely well in the last fiscal year, something for which all our employees deserve recognition. These results have exceeded our expectations, and we are very happy for them. I must admit that we probably benefited from favourable circumstances too. But that has changed now. There is no doubt that from now on things will be more difficult, and we can already see that global challenges are being reflected in our figures, quite remarkably so in recent months,” said Anders Holch Povlsen, CEO of Bestseller, which owns the Vero Moda, Only, Vila and Jack & Jones brands.
 
As the group did last year, it will pay its employees bonuses worth in total DKK 300 million (€40.32 million), to reward them for their efforts.

Bestseller operates 3,000 stores worldwide, run either directly or with partners, and its brands are also distributed via 17,000 multi-brand retailers. The group employs 18,000 people worldwide.