Bestseller to scoop up British online clothing store
The Danes will have to shell out 1.3 billion kroner
The Danish clothing company Bestseller has reportedly agreed to purchase the British online clothing store M and M Direct from TA Associates for a price of around 1.3 billion kroner.
Bestseller, which is behind a string of brands including Jack & Jones, Only, Selected, Vila and Vero Moda, has been eyeing a buy of M and M for a while now, according to Bestseller’s head of communication, Mogens Werge.
“The plan is for M and M to continue as is,” Werge told Jyllands-Posten newspaper. “The company has some knowledge and experience from online trading that we can learn from.”
Within two months
As of now before the deal has been completed, Bestseller consists of over 3,000 shops in 38 countries, while the company’s products are sold in 12,000 shops in around 50 nations.
The sale is expected to be finalised within the next two months.