Bestseller owner snaps up majority stake in Drake’s

Anders Holch Povlsen, the owner of Danish fashion giant Bestseller Group and the largest shareholder of e-commerce retailer Asos, has snapped up a majority stake in British menswear brand Drake’s.

New Companies House filings have revealed that a 75 percent stake in Drake’s has been transferred to 28.10.2025 Limited, a firm overseen by Povlsen. No official announcement has been made by either parties. FashionUnited has contacted Drake’s for more information.

The news follows the departure of Mark Cho, who revealed in a post on Instagram last month that he had sold his shares in the Savile Row tailor. Cho stepped in as owner of Drake’s in 2010, following the exit of its founder Michael Drake. Since then, the director said the company “grew sevenfold as we nurtured our collection and expanded our customer base across the globe”.

Cho added that as Drake’s continued to evolve, he recognised it “needed a different steward to reach the next stage in its life”. This led him to sell his share to a “low-profile, longtime fan of the brand and an exceptionally important player in the world of clothing”. His now former co-owner, Michael Hill, will continue as managing and creative director as Drake’s moves into its next chapter.

The shift in leadership follows a period of strong financial growth for Drake’s, which, in the year ended 31 March 2025, saw turnover increase 20 percent year-on-year to 19.6 million pounds. It further recorded “strong outperformance” in direct-to-consumer channels, helping gross profit increase to 9.8 million pounds. The company, which operates under Carrington Hull Associates, sells through wholesale accounts and retail outlets across London, New York and Seoul, as well as an e-commerce platform.

For Povlsen, the acquisition reflects continued growth in his own already well established portfolio, with much of his business carried out through his Danish holding and investment company Heartland. His core fashion business, Bestseller Group, for which he is the CEO, operates the brands Jack & Jones, Vero Moda and Only.