Anders Holch Povlsen’s private holding company has been restructured under the name HEARTLAND to officially separate non-core investments from the daily operation of BESTSELLER.
HEARTLAND contains all group activities including investments and holdings outside of the fashion activities in BESTSELLER. By setting up HEARTLAND to handle these activities, BESTSELLER will be able to retain the focus on the core fashion business.
A small dedicated team
A number of activities that were previously supported by colleagues in BESTSELLER will now be handled separately from the fashion business by a small dedicated team in HEARTLAND . The team will focus on actively nurturing investments by offering support and consultancy services to selected companies in their portfolio.
To create transparency and obtain synergies, the activities under HEARTLAND are mainly grouped in three divisions as visualised below. Fashion company BESTSELLER will remain the foundation and core element of the group, though technically placed under BESTSELLER UNITED.
Investing with the heart
The name of the company is no coincidence, as pointed out by HEARTLAND CEO Lise Kaae: “We do not venture into business opportunities without having our hearts in it, and we only look for long term engagements. In that sense, our investment view is very much affected by the Holch Povlsen family values. We believe that people create results, and when we look for new opportunities, we look just as much at the people we are partnering with, as we look to the actual investments. The right business plan is nothing without the right person to bring it to life.”
Role change in BESTSELLER
Lise Kaae has long been looking after the various group investments alongside her responsibilities as CFO in BESTSELLER. With the new setup, she will change roles and become 100% dedicated to the HEARTLAND activities as CEO, handing over her BESTSELLER responsibilities to a new CFO in BESTSELLER. Read about the new CFO in BESTSELLER here.