Fashion
Bestseller CEO’s Klarna stake drives $1.7 billion investment comeback
By
Bloomberg
Published
September 11, 2025
Anders Holch Povlsen has accumulated stakes in listed online retailers, banks, and other finance firms over the past two decades, while overseeing one of the world’s largest closely held fashion fortunes.
But it’s a lucrative bet on Klarna Group Plc that’s currently driving the 52-year-old billionaire’s wealth revamp.
Povlsen, chief executive officer of Danish clothing retailer Bestseller, is among the biggest winners from the initial public offering of the financial technology company, which began trading Wednesday in New York and closed almost 15% above its offering price of $40 per share.
He now owns a roughly $1.4 billion stake in the Swedish business, making it his largest holding in a publicly traded company, while also cashing in at least $250 million from the offering, which priced above the marketed ranges, according to Bloomberg calculations. Povlsen has overall gains of more than 600% from his investment in the provider of buy-now, pay-later financing, taking the value of his disclosed holdings in listed companies to about $2.5 billion, the calculations show.
A representative for Povlsen — who has a total net worth of $6.9 billion, according to the Bloomberg Billionaires Index — didn’t immediately respond to requests for comment.
Despite Klarna’s current valuation falling well below its 2021 peak of $45.6 billion, Povlsen’s investment underscores one of his most successful efforts to diversify a family fortune that began five decades ago, when his parents founded Bestseller as a women’s clothing store in a small Danish town.
Povlsen acquired a 10% stake in Klarna in mid-2017 through his family office, Heartland, just weeks before the fintech was valued at approximately $2.3 billion. He earlier used the investment firm to acquire holdings in e-commerce fashion sites Zalando SE and ASOS Plc. Heartland’s other listed assets include Funding Circle Holdings Plc, a London-based lending platform that has struggled since its initial public offering in 2018.
While also a major landowner in Scotland, most of Povlsen’s fortune remains tied up in Bestseller, where he first began working as a teenager before taking over from his parents as owner and managing director in 2001.
In a rare interview this year to mark Bestseller’s 50th anniversary, Povlsen said he originally wanted to start an e-commerce firm before deciding to work in the family business, underscoring his long-standing interest in the sector that Klarna has helped transform since its own creation in 2005.
“My parents did everything they could to dissuade me from following in their footsteps,” he told the Spin Off fashion magazine. “The more they tried, the more my interest in Bestseller grew.”
Other winners in Klarna’s IPO include the founders Victor Jacobsson, Niklas Adalberth, and Sebastian Siemiatkowski, who’s also its CEO. They cashed in at least $50 million of their combined holdings in the oversubscribed IPO, which valued the company at approximately $15 billion, according to filings.
The three now control overall stakes worth more than $2 billion in Klarna, a company that has evolved from a European clone of PayPal Holdings Inc. to one of the world’s biggest providers of short-term consumer loans as it seeks to disrupt the banking sector.
“You have to be willing to push the envelope,” Siemiatkowski said in an interview Tuesday with Bloomberg News.
This November, Melbourne will once again transform into the heart of global trade as the Global Sourcing Expo returns to the Melbourne Convention and Exhibition Centre (MCEC) from Tuesday 18 – Thursday 20 November 2025. Recognised as the leading sourcing marketplace in the region, the Expo connects international manufacturers and suppliers with thousands of Australian and New Zealand buyers, offering unparalleled opportunities for business growth, trend discovery, and global networking.
The 2024 Melbourne edition welcomed 900+ exhibitors from over 20 countries and regions, attracting 4,700+ professional attendees — a 24% increase from the previous year. This strong growth underscores both the Expo’s influence and the growing demand for in-person sourcing opportunities.
The 2025 edition is set to exceed expectations, drawing more than 5,000 buyers, designers and decision-makers who are ready to discover, compare, and partner with international suppliers.
An Invitation to the World’s Exhibitors
For manufacturers and suppliers worldwide, the Global Sourcing Expo Melbourne is more than just a trade show — it is a gateway to the Indo-Pacific market, one of the fastest growing consumer regions in the world. By showcasing in Melbourne, businesses gain direct access to decision-makers from Australia and New Zealand who are actively seeking quality, scale, and innovation across key categories: apparel, textiles, home furnishings, footwear, and accessories.
Unlike digital platforms or online showrooms, the Expo delivers what no screen can replicate: face-to-face interaction with qualified buyers. Exhibitors can expect to:
- Showcase craftsmanship live – from fabrics and finishes to full product lines.
- Hold real-time discussions on MOQs, certifications, lead times, and logistics.
- Receive immediate buyer feedback to tailor offerings for the region.
- Build long-term business relationships with retail and wholesale partners.
The Expo positions businesses in front of buyers who value trust, quality, and innovation — helping establish a foothold in the region and opening doors into some of the most dynamic retail markets in the Indo-Pacific.
One international exhibitor from 2024 reflected: “The event was exceptionally well-organized, and the support from the team was outstanding. From the smooth setup to the seamless logistics throughout, everything was handled professionally, allowing us to focus on showcasing our products. The venue was excellent, and the foot traffic was great, leading to valuable interactions and exposure. I’m looking forward to participating again in future events!”
With exhibition stands filling quickly, overseas businesses are encouraged to secure their space early and position themselves at the forefront of the region’s sourcing scene.
Your Gateway to Global Suppliers
For visitors, the Global Sourcing Expo offers an unmatched opportunity to explore products, discover trends, and meet suppliers directly. The ability to physically interact with materials and products remains a central advantage of the event. For buyers, retailers, designers, and sourcing professionals, the Global Sourcing Expo Melbourne is the most efficient way to access the world’s suppliers in one central location. Whether you are seeking new partnerships, expanding product ranges, or exploring the latest industry innovations, the Expo delivers a sourcing experience that goes far beyond catalogues and online searches.
As one 2024 visitor shared “The best thing about the Global Sourcing Expo was being able to meet suppliers and talk to them directly, along with seeing samples and the quality of their products in person.”
Another attendee noted “The Expo offers networking, exposure to international manufacturers, and the latest trends in the fashion industry, enhancing business opportunities and industry insights.”
Visitors can expect to:
- Touch and test fabrics, textiles, and finishes firsthand.
- Gain instant answers and negotiate terms in real-time.
- Discover new categories and innovations — from sustainable textiles to the latest trends in apparel.
- Connect seamlessly with peers and industry leaders across the trade floor.
For both buyers and exhibitors, these face-to-face exchanges build trust and confidence, fostering the kinds of long-term partnerships that online platforms cannot deliver.
Spotlight on Knowledge and Trends
Alongside the trade exhibition, the Global Sourcing Seminar Series returns with a curated program of expert-led sessions. The 2025 series will spotlight themes shaping the industry, including Artificial Intelligence, Digital Workspaces, e-Commerce and Online Shopping, Marketing, Sustainability, and so much more. These sessions provide both exhibitors and visitors with insights that extend beyond transactions, helping businesses future-proof strategies in an ever-changing global market.
Adding to the international breadth of the event, the 2025 Melbourne Expo will once again feature the co-located China Clothing Textile Accessories Expo, further expanding opportunities for buyers to access a diverse range of products and suppliers.
From emerging exporters to established industry leaders, the Expo floor will reflect the richness of global trade, all in one central hub in Melbourne.
Event Details & Registration
- Event: Global Sourcing Expo Melbourne 2025
- Dates: Tuesday 18 – Thursday 20 November 2025
- Venue: Melbourne Convention and Exhibition Centre (MCEC)
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
The Global Sourcing Expo returns to Melbourne’s MCEC on November 18–20 2025, connecting 5,000+ buyers from Australia and New Zealand with global suppliers in apparel, textiles, home, footwear, and accessories.
Featuring 900+ exhibitors, seminars on AI, e-commerce, and sustainability, and the co-located China Clothing Textile Accessories Expo, it offers unmatched sourcing and networking.
Fibre2Fashion News Desk (HU)
By
AFP
Published
September 11, 2025
Time is money for Swiss watchmakers — and some are cashing in on US President Donald Trump’s steep tariff on goods from Switzerland, launching limited-edition watches that display the 39% duty on their dials.
Swatch launched a model on Wednesday that reverses the position of the 3 and 9 on the dial — a reference to the tariff rate Trump imposed on Swiss imports starting August 1.
“Hopefully, just a limited edition,” the company’s website reads under a photo of the watch, which is available exclusively in Switzerland.
A Swatch spokesperson described the launch as “a positive provocation, a nod to the current situation.”
“As soon as the United States changes its customs duties on Switzerland, we will immediately stop selling this watch,” he added.
The watch is already listed as temporarily out of stock on Swatch’s website, and the spokesperson said the brand hopes the offer “won’t last long — in fact, as short as possible.”
Luxury watchmaker Raymond Weil also unveiled a limited-edition version of one of its classic models featuring the “39%” figure on the dial.
It produced just 39 pieces — all of which have already sold out.
“In Swiss watchmaking, adversity doesn’t stop the hands of time,” said the brand in a statement, adding that it believes “challenges are best faced with creativity.”
Instead of increasing prices to reflect the import tax, Raymond Weil responded with humor. “By saying that instead of adding 39 percent to the price, we’re going to lower it by 39 percent,” chief executive Elie Bernheim told AFP.
The 39% tariff is expected to significantly impact Swiss watchmakers, as the United States was their top export market last year.
Zurich, Sept. 11, 2025 (AFP)
Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.
By
Reuters
Published
September 11, 2025
Artemis, the Pinault family’s holding company that controls Gucci-owner Kering, will not sell its 29% stake in sports brand Puma at the current market value and is not engaged in talks over a deal, a source close to the firm told Reuters on Thursday.
The comments — the first from a source with detailed knowledge of the private firm’s operations — follow an August report by Bloomberg stating that Artemis was sounding out potential buyers for its $960 million stake in Puma.
Puma shares surged 15% on August 25, but have since lost most of those gains.
The source, who declined to be named because the information was private, said Artemis had been approached by many potential suitors for its stake — including private equity firms and sector peers — but emphasized that the firm was not negotiating anything at this time.
“Would we sell at this level? Never in our lives… We consider that Puma is worth much more than that,” the person said, while echoing public comments from Artemis chairman François-Henri Pinault earlier this week that Puma was not “strategic.”
Puma shares fell as much as 4.7% in Frankfurt trading following the publication of the comments. By 3:12 p.m. GMT, the shares were down 3.6%, having traded as high as 1.5% earlier in the day.
Puma’s stock has lost over 60% of its value in the past two years, as the brand has struggled to maintain its market share for footwear and apparel and generate interest in newer sneaker models, such as the Speedcat.
The source said that while Puma would not remain in Artemis’ portfolio “forever,” now was not the right time to sell.
Puma declined to comment when contacted by Reuters.
Pinault’s investment vehicle — which, in addition to Gucci-owner Kering, also controls auction house Christie’s and Hollywood talent agency CAA — has come under investor scrutiny for the high levels of debt accumulated across its portfolio, as it seeks to diversify amid declining luxury sales.
The source close to Artemis declined to name specific investors but noted strong interest from both sector peers and financial investors “seeking to position themselves.”
The Pinault family acquired its stake in Puma in 2018 from Kering, when the luxury group spun off the holding and refocused on its high-end fashion portfolio, centered on brands like Gucci and Saint Laurent.
The source added that Artemis has full trust in the newly appointed Puma CEO, Arne Hoeld, to turn the company around and emphasized that Artemis is not facing any debt maturities this year or next that would force it to sell assets.
© Thomson Reuters 2025 All rights reserved.
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