New faces now turn up as Stylepit investors.
Financier Ole Abildgaard and “beauty queen” Heidi Sommer believe Stylepit has left the problems behind.
The Board of Directors of Stylepit has decided to exercise its authorization to increase the share capital by up to 48.4 million DKK.
“After a period of dramatic changes in the competitive environment and a subsequent period of extensive adjustments to strategy and organization we have now come out the other side stronger than ever. Stylepit have lived through a healthy crisis and I look forward to, together with skilled and motivated colleagues to capitalize on this strength in the future, ” comments Marc Jeilman, CEO of Stylepit A / S.
NE Nielsen, chairman of Stylepit A / S, says thank you to those who have guaranteed the capital increase and all those who have contributed to a rapid and professional preparation of the basis for the capital increase. ”
But Anders Holch Povlsen, the man behind Bestseller, who owns 25 percent of Stylepit has stopped the money flow to the online fashion company. According to business.dk he has lost more than 60 millions of investment in the company.
Among the new investors in Stylepit are financier Ole Abildgaard and his partner Heidi Sommer, who has built a fortune on a chain of beauty schools. The two have previously invested considerably in wind power, and the couple owns large properties, including castles in Denmark and France.
“Heidi and I are investing in Stylepit because we think the company is incredibly exciting. The problems Stylepit had, we believe the company has left behind, “says Ole Abildgaard to business.dk.
Another new investor is Paul Spangenberg, who through his company PO-ma invested 10 million dollars in Stylepit. Director of Stylepit, Marc Jeilman and co-founder Christian Kusk have both invested 5 million dollars in the company.
Today’s capital increase made the share drop of nearly 20 percent after lunch..
The provisional accounts of Stylepit for 2014/15 show a turnover of 364 million DKK. and a negative EBITDA of 30 million DKK.