Aarhus single-family office acquires majority in Drake’s

Heartland A/S, the family holding company of Danish billionaire Anders Holch Povlsen, has acquired a 75 percent majority stake in British premium menswear brand Drake’s. According to UK Companies House filings, the shares were transferred to “28.10.2025 Limited,” a special purpose vehicle controlled by Povlsen. The transaction follows the exit of previous majority owner Mark Cho, who had led the brand since 2010 and oversaw a sevenfold increase in revenue during his tenure. Michael Hill will continue as Managing Director and Creative Director, signaling continuity in the brand’s operations. Drake’s, legally registered as Carrington Hull Associates, operates flagship stores in London, New York, and Seoul, alongside wholesale distribution and direct-to-consumer e-commerce. In the fiscal year ending March 2025, the company reported revenue of £19.6 million (approximately €23.1 million), representing 20 percent year-over-year growth, with particularly strong performance in its direct-to-consumer segment.

About the Holch Povlsen family office: Heartland A/S

Heartland A/S is a family holding company based in Aarhus, Denmark, representing the interests of the Holch Povlsen family. The company was founded by Anders Holch Povlsen, who also serves as CEO and sole owner of Bestseller A/S, a fashion conglomerate established by his parents in 1975 that operates brands including Vero Moda, Only, and Jack & Jones across more than 10,000 stores worldwide. Beyond Bestseller, Heartland’s investment portfolio includes significant stakes in online fashion retailers Zalando, Asos, and About You, as well as positions in Klarna and Fashion Cloud. In 2023, Heartland acquired Danish football club FC Midtjylland. Povlsen, ranked by Forbes as Denmark’s wealthiest individual with an estimated net worth of $12.5 billion in 2024, also pursues large-scale conservation efforts through his WildLand Foundation, including rewilding projects across more than 220,000 acres of Scottish Highlands.

Picture Source: Unsplash+ (13.01.2026)
Article Source: Retailnews (13.01.2026)