Danish menswear brand Jack & Jones is launching a new strategic direction following years of disappointing results. The new strategy will focus on simplifying the business and getting back to its roots.
The owner of the Danish apparel group has increased his stake in Asos to 29% according to regulatory filings Tuesday, taking its investment to just below the 30% mark that would trigger a mandatory bid for the company.
The Irish wholesale arm of Bestseller decreased pre-tax profit from €2.4 million to €1.8 million in the year to 31 July 2016, according to reports. The company's brands include Vero Moda, Only and Jack & Jones.