Download the BESTSELLER Annual Report 22-23 here
When BESTSELLER celebrated its all-time best result in 2022, it was also bracing for more difficult conditions and challenges in the upcoming financial year. That prediction has proven to be accurate.
In the financial year 22/23, BESTSELLER managed to increase its turnover by five percent, but the overall result indicates that the year was characterised by a changed and challenged market.
From August 2022 to July 2023, BESTSELLER’s turnover increased by five percent, while the result before tax totalled EUR 664 million – 19 percent lower than last year.
While the performance of brick-and-mortar stores, both BESTSELLER’s own nearly 2,100 and the many partner-owned, contributed positively to the result and showed promising signs, overall online sales saw a decline for the first time.
BESTSELLER has made significant investments over the past several years. Partly in a wide range of strategic business initiatives, digitalisation and new facilities, but also – to a large extent – in business models, materials and technologies aimed at contributing to the necessary transformation of the fashion industry.
BESTSELLER intends to maintain and continue these investments in the current and upcoming years. For example, the fashion company will break ground on a new high-tech distribution centre in the Netherlands during the ongoing financial year, and several of the company’s brands will expand their retail networks.
At the same time, BESTSELLER will continue to invest in sustainability initiatives. Since 2018, BESTSELLER has reduced its direct CO2 emissions by 82 percent, partly by establishing a solar power plant through its parent company and entering agreements for more CO2-neutral freight with several of its logistics partners. Also, the company has invested more than DKK 150 million in the earliest stages with innovators who are developing the materials of the future.