Holch Povlsen: I do not know what it will be like to operate a business like Stylepit

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Anders Holch Povlsen, who sits on a 83 percent stake in the internet fashion store Stylepit says he is prepared to invest the work it takes to get Stylepit back on its feet.

”There is no trick or easy shortcuts to reverse the company, but we are fortunately not work-shy, says Anders Holch Povlsen to Berlingske Business.

After a capital increase earlier this year, Bestseller and Anders Holch Povlsen took action to take possession of over 50 percent of the shares in Stylepit.

Chairman N.E. Nielsen and director Marc Jeilman initially hesitated to sell their shares, but surrendered last week as directors Stein Lande and Christian Bjerre chose to accept the offer of 0.20 DKK per share.

The goal for Holch Povlsen will be to stabilize the company after turbulent months. Whether the company will remain listed is unknown.

“It is not decided. It is a very small company with very little inventory on the open market. How it will be to operate a business like that, I do not know yet, “says Anders Holch Povlsen.