J. LINDEBERG’S NEW INVESTORS: Swedish label J. Lindeberg has new owners. Last month, investors Allan Warburg, Dan Friis and Anders Holch Povlsen took a majority stake in the business. The trio are all owners of Denmark’s Bestseller Fashion Group and Holch Povlsen acts as chief executive officer of the company. However, the investors are acquiring J. Lindeberg as a brand distinct from their activities with Bestseller, and it will continue to operate separately. J. Lindeberg’s ceo, Jonas Meerits, and global brand director, Stefan Engström, will remain in their positions and as shareholders in the business.
This story first appeared in the September 8, 2011 issue of WWD. Subscribe Today.
Warburg, Friis and Holch Povlsen acquired their shareholding from investment vehicle Proventus, which assumed principal ownership of J. Lindeberg in 2007. The new owners plan to “develop J. Lindeberg as a stand-alone entity and to utilize the brand’s potential for continued global growth,” the company said. Meerits added in a statement: “This deal is an acknowledgement of the strength of the brand.…I am confident it will open up for new and exciting opportunities.”