(Bloomberg) — Anders Holch Povlsen, Denmark’s richest man, will give his employees one month of wages as a bonus after profits at his clothing company jumped to a record.
Bestseller A/S, with brands including Jack & Jones and Vero Moda, will pay its 17,000 staff a total of 300 million kroner ($46.6 million), according to a statement on Friday. The company reported net income of 3.61 billion kroner for the 12 months through July. That’s almost nine time more than in the previous fiscal year when the pandemic shut down many of its stores.
“We’ve been able to adapt to the challenges we’ve met and we’ve managed to make the most of the right decisions we’ve made along the way,” Povlsen said in a statement. The result “is better than we had expected or had dared hope for.”
Povlsen has a net worth of $10.9 billion, ranking him No. 1 in Denmark and No. 206 globally, according to the Bloomberg Billionaires Index.
