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This article directly stems from the research process for our European single family office database. Our list of Scandinavian family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity and renewables.
The Danish businessman is the CEO and owner of global retail chain Bestseller which is an umbrella company for other clothing brands such as Vero Moda and Jack & Jones. In July 2022, Povlsen had an estimated net worth of $12bn which puts him as the richest Dane. Anders is married to Anne Holch Povlsen and the couple have had four children together: Alma, Agnes, Astrid and Alfred. Tragically Alma, Agnes and Alfred were killed at the 2019 bombing in Sri Lanka. In this article, we investigate if Anders Holch Povlsen owns a Scandinavian family office.
Povlsen family wealth is managed through Heartland and large-scale real estate holdings
Heartland is a holding company that represents the interest of the Povlsen family. Heartland is a forward-thinking company with interests in fashion, sustainability, nature, and properties. In 2022, Heartland announced plans to invest in Danish property rental start-up Landfolk, which provides holiday home for Danish tourists. Their investments have also focused on improving consumer’s retail experience with a $4.4m investment in a Swedish tech group named Touchtech which digitize stores and helps drive sales. Bestseller is the family business led by Anders which works alongside other retail giants such as Zalando and ASOS. Anders himself is the largest shareholder in ASOS and the second largest in Zalando.
Anders is the largest private Scottish landowner with a portfolio in the excess of 220,000 acres, which has doubled since 2012. His centrepiece Glenfeshie estate was purchased for £8m in 2006 and the 42,000-acre site has featured in numerous film sets such as The Queen and the TV show the Crown. Povlsen’s love for the Scottish Highlands dates back to a fishing holiday he took with his parents back in the 1980s. Anders aims to re-wild the majority of his land to restore the Highlands to their former glory and reverse the damage done by over-farming and grazing. The project ties in with the WildLand foundation he established in 2004 with the aim of restoring damaged landscapes and protecting the natural world for future generations. The organisation has undertaken projects in Romania, Scotland, and Africa. Anders has made numerous charitable donations through scholarships for aspiring Danish entrepreneurs and donated over 100,000 test kits during the Covid-19 pandemic.
Picture source: Clark Street Mercantile