NN.07 posts record results: “We’re still only just getting started”
NN.07 posts record results: “We’re still only just getting started”
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Today, Danish fashion label NN.07 reports another year of strong profitability, delivering a sizeable result once again.
Despite challenging market conditions, revenue is up 18% compared to 2024, resulting in an EBITDA of DKK 52m. This comes in a year where the company has navigated rising costs while continuing to invest in its international expansion.
We spoke with CEO Anders Rahr, who, when we last caught up, told us: “We’re only just getting started.”
Looking at NN.07’s latest performance, it’s hard to disagree.
Since then, the brand has continued to build its presence internationally. But what, more specifically, has driven the past year’s results, and where does NN.07 go from here?
We asked Anders Rahr.
“The next level isn’t about doing something entirely different, but about strengthening what we already do.”

Anders Rahr, CEO at NN.07
“Most recently, our ‘Aden’ chinos were highlighted as a ‘Best New Pick 2026’ by The New York Times.”
Anders, congratulations on the strong result. What has gone particularly well for NN.07 over the past year?
“What’s worked for us is, in many ways, quite simple: we’ve stayed the course. We’ve continued to focus on product, our partnerships and being present in the right places, and that’s now starting to resonate across our markets. It’s very much driven by a strong team and close collaboration across the business.
We can feel it quite tangibly in how people engage with the brand, both in-store and through the product itself. Most recently, our Aden chinos were highlighted as a ‘Best New Pick 2026’ by The New York Times Wirecutter.”
Can you describe where NN.07 stands as a brand in 2026?
“We’ve become more established internationally, without changing the foundation of what we do. There’s a stronger sense of recognition around NN.07 today, both in the products and in how we show up.
We’re also seeing a deeper connection with our customers across markets. And ultimately, that’s what matters most, not just that people buy into the brand, but that they come back.”
“Retail plays an important role for us, because it’s where the brand is experienced in its entirety”
We last spoke about your retail concept, which has been widely praised internationally. The broader market is under pressure—have you been able to maintain momentum?
“Yes, we have. Retail plays an important role for us, because it’s where the brand is experienced in its entirety. When we open in the right locations and do it properly, we can clearly see the effect it has far beyond the store itself. It’s about the experience when you walk in, that’s just as important as what’s on the rails.”
Have there been things you’ve deliberately chosen not to do, which have been important for your development?
“Yes, we’ve been quite intentional about what we say no to. There have been opportunities we’ve passed on because they didn’t fit—either in terms of distribution or the brand. It’s not always the easy decision, but often it’s the right one in the long run.”
What is the next level for NN.07? What are you ultimately working towards?
“We’re still relatively early in our international journey. So the next level isn’t about doing something entirely different, but about strengthening what we already do.”

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In Five Years, a Mother and Son Built an International Concept
In Five Years, a Mother and Son Built an International Concept
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What began with handmade jewellery at a dining table has grown into SMYKBAR, an eight-location concept spanning Denmark, Norway and Germany, with more openings on the way. Named after the Danish word smykker, meaning jewellery, SMYKBAR helped pioneer the idea of the jewellery café, blending retail, creativity and hospitality in a format of its own.
Behind it are Noah Middelboe and Nina Middelboe, son and mother, who developed the idea without a blueprint to follow. From the outset, the ambition reached beyond jewellery itself, creating spaces for creativity, presence and social connection, while building a concept designed to scale.
What started as an intuition has since grown into a brand shaped as much by atmosphere as operations, with expansion considered from day one.
We met Noah and Nina at their new flagship café on Kompagnistræde in Copenhagen to talk about building a category, growing together and what continues to drive them.
“From that point, we kept moving forward”

Noah Middelboe & Nina Middelboe, SMYKBAR
“That makes a real difference as we open new locations today”
If we go back six years to the beginning of SMYKBAR. Noah Middelboe is 15 years old, and the idea has just begun to take shape. What did you actually imagine back then, do you remember?
Noah:
“It really started with what was simply my passion, and I think that’s important to say. I spent a lot of time at home making jewellery and was extremely detail-oriented about it. I was deep into gemstones, materials, techniques, everything.
At that point, I wasn’t walking around with a dream of becoming a jewellery designer or building a company.
But once we came up with the idea of a jewellery café, that idea actually aligns very closely with what SMYKBAR became. So if I had to answer your question, I think I was already imagining something very close to what SMYKBAR is today. And that’s still the most surreal part of it.”
Nina:
“Shortly after we came up with the idea for a jewellery café, I lost my job. That meant I suddenly had six months of salary and, at the same time, a strong belief in the idea of creating a space, a café where creativity and community would be at the centre.
There was just something in me saying: this is the moment.
We were living on Frederiksberg in a fairly expensive apartment, I was a single mother of two, so it was quite a leap. But I remember very clearly that I genuinely believed this could become something great, if we did it properly from the very beginning.”
“We were building locally, but already thinking globally through digital channels”
With all due respect, you were completely inexperienced in running a shop or a café. When did you realise this was actually a good idea?
Nina:
“The café on Gammel Kongevej was our first. In the beginning, I could run it on my own during the early part of the day, and then Noah would come after school. Every day I spoke with almost everyone who passed by.
I got to know both the area and the customers because I was there all the time. The turning point for me was when people started walking in who I didn’t know and couldn’t place from the neighbourhood.
I remember it very clearly, it felt slightly intimidating, but also like a sign that something was working. From that day on, I don’t think we ever really looked back.”
Noah:
“We essentially opened twice because of COVID. We were quickly hit by a lockdown, so the 21st of April 2021 almost feels like the real opening. During that period, we spent a lot of time refining what actually worked.
A good example is our social media, where we gained traction quite early on.
So we were very local, as my mother describes, but at the same time already expanding our reach digitally. From the very beginning, some of our TikTok videos went viral, which brought in tourists and a lot of unexpected attention.”
Nina:
“I really wish more people would dare to do it. We learned incredibly quickly, everything from replying to DMs and emails to building a website, serving customers and buying stock, all without much prior experience.”


“That makes a huge difference when opening new stores today”
What made you realise that SMYKBAR wasn’t just a local concept, but something that could be scaled?
Noah:
“It was actually the plan from the very beginning. It really was. But if I had to point to a specific moment, it would be late 2022, when we opened in Aarhus. That was when the concept truly had to prove itself in terms of scalability.
At that point, I could no longer just cycle between the stores in Copenhagen.”
Nina:
“That’s why we also rented a cheap Airbnb in Aarhus and lived there throughout the entire launch phase. It was important for us to get it properly up and running, so both employees and guests would have the same experience we knew from Copenhagen.
It worked quite well in terms of creating the right vibe in the store, but we quickly became pressured on the back-office side. For example, understanding what was selling and what was in stock, or not accidentally showing pieces on Instagram that weren’t actually available in Aarhus.”
Noah:
“We were essentially working around the clock, but everything we built was already designed with scalability in mind. That makes a huge difference today when we open new stores. The more control you have over inventory, pricing and those systems, the more confident you are in taking bigger steps. In other words, opening more stores. And that’s what we’re going to do.”
If we move to today, what does it look like now?
Nina:
“Overall, we still have the same areas of responsibility. We do many of the same things we did in the beginning. The difference is that we now have eight SMYKBAR cafés, with our most recent opening in Hamburg. At the same time, we’ve opened a new flagship in central Copenhagen, where we’ve also brought our office together.”
Noah:
“We’re now more than 120 employees, which is incredible. I genuinely feel proud when I see our colleagues on Instagram, even when they’re together outside SMYKBAR. That’s when it all starts to make sense in a different way.
Our employees mean a lot to us. They are a huge part of the experience and the universe we are trying to create.”

More and more companies are booking in
There is a clear sense of community at SMYKBAR. It’s easy to understand why people are drawn to it as a place to meet. But you also mentioned that more and more companies are now booking in.
Nina:
“The desire to go to SMYKBAR comes from a need to be together. That is really the core premise of why we exist. And there are many ways to do that, but conversation simply changes when you’re doing something creative at the same time.”
Noah:
“I really enjoy working with companies. In principle, almost anything is possible. We’ve become quite good at putting together different formats depending on what they need, while also having a strong sense of what actually works.
It’s a good way for colleagues to get to know each other better, have a good time, and bring some new energy into the working day. We’ve also used our spaces for launches — and we can take the concept outside of the cafés as well.”
“I don’t really believe in learning in the abstract”
What is the most difficult part of scaling a concept that is so heavily based on experience and atmosphere?
Nina:
“We have very clear markers for the brand, the curtains, the furniture, the high quality of materials, so we actually know quite well what we need when we open in a new country.
What we spend most of our time on is recruitment. Who do we believe can help create that ‘vibe’, and who will work well together?
Once a new team starts, we closely support them with experienced staff in the beginning so they can learn everything in practice. We don’t spend a lot of time on training before opening. I don’t really believe in ‘learning in the abstract.’”
Noah:
“At the beginning we were just using Messenger groups, but today we have an internal app with guidelines and a way of communicating across locations. That allows us to learn a lot from each other and makes the scaling process more agile.
At the same time, it helps build relationships between employees more quickly. When you have so many young staff members, it’s important to create a sense of security within that.”
Nina:
“And if I had to point to one of the hardest parts of scaling, it’s finding the right locations. We could have opened in more cities already, but it’s very important for us to choose the right sites.”
What is the ambition for SMYKBAR over the next 2–3 years?
Noah:
“We believe there can be a SMYKBAR in every major city. But as my mother says, there are many factors involved. The locations need to be right — in terms of placement, price, size, and so on. But we definitely want to keep pushing forward.”
“It’s still the dream that drives me”
What keeps driving and motivating you? You already have a successful business today.
Noah:
“It’s still the dream that drives me. But also the responsibility we’ve taken on. I feel genuinely proud when I see employees across locations becoming friends and celebrating birthdays together. When I see someone in Hamburg posting about something we’ve created, it still feels quite surreal. And we’re really only just getting started. But it has to be done properly.”
Nina:
“For me, what’s different compared to my previous working life is that I’ve been able to step away from a lot of pseudo-work. I can focus on and shape the things I believe are important for SMYKBAR.
It’s not only the fun tasks, it doesn’t work like that, but I only work on things that move SMYKBAR forward every single day. And I love that we do it with people we’ve chosen ourselves, and that we’re constantly able to develop the business further.”
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From Bestseller to BLK.LAB11: Matilde Sandgaard on building her own path
From Bestseller to BLK.LAB11: Matilde Sandgaard on building her own path
🇩🇰 Du finder den danske version af denne artikel her.
Matilde Sandgaard has already built an impressive career around Bestseller at just 32. Today, she stands in a very different place. The large-scale fashion setup is behind her, but the ambition remains.
She is now channeling that energy into her own venture, BLK.LAB11.
Conceived for both men and women, the brand emerged from what Sandgaard describes as a “breaking point” — and a desire to do things differently. She describes BLK.LAB11 as bold, minimalist sportswear and athleisure, rooted in presence, performance and a more considered approach to how we move and live.
The brand has already made a strong start and recently opened a showroom and retail space in central Copenhagen, as the first step in ambitions that begin in Denmark but reach further.
We met Matilde Sandgaard on a rare quiet morning at House11 in the heart of the city.
“Something I’ve always admired about Bestseller is this idea that if you’re good enough, you’re old enough”

Matilde Sandgaard, Founder, BLK.LAB11
“The fashion industry often judges by appearances. I grew tired of that. I’m drawn to spaces where the focus is on you as a person”
What have you taken with you from Bestseller?
“A large part of what I’ve taken with me is drive, ambition, and the standard you hold your work to. You really have to make an effort and be diligent.
What I think Bestseller does best is its internal culture.
You get what you earn and what you take for yourself. People are extremely passionate about their jobs. There’s so much energy. That has been the foundation of who I’ve become professionally.”

‘If the whole world was blind, how many people would you impress?
When you started BLK.LAB11, had it always been part of the plan that you would become self-employed?
“I think it probably has. I’ve always wanted to break with my own patterns in my working life. I’ve always put 110% into my jobs.
I’ve never lived for my jobs, but with my jobs. So I’ve often been told that I should start something on my own. So maybe it’s always been more a question of ‘when’ rather than ‘if’.
I’ve always been headhunted and received quite a few offers. I’ve been successful in what I’ve done. That has helped build my confidence and made me truly believe in myself. And I think that’s important if you want to dare to start something.”
You told me earlier that BLK.LAB11 was born out of a “breaking point”. What does that actually mean?
“BLK.LAB11 comes from a well-known quote: ‘If the whole world was blind, how many people would you impress?’ We don’t focus on trends, but on what feels right.
The fashion industry often judges by appearances. I’ve grown tired of that. I love when the focus is on YOU as a human being — seeing each other as we are and how we behave.
And that’s when it really started to build up for me. I needed to step away from some of the noise and pace. A breaking point is perhaps not one single moment, but an accumulation of everything I could no longer see myself in.
It became a place where I started questioning what I actually wanted to build on — and what I didn’t want to take with me.
So BLK.LAB11 is also about slowing things down a bit. You don’t need to constantly add more, more, more. We are very intentional about how we build the brand.
There’s a sense of calm in what we do. We have a spiritual approach to being present, and not always being on the way to something next.”

The ambitions are big
How did it get started?
“We launched on 1 September last year. We did it in connection with me running the Sydney Marathon, where I actually received my 7th major star.
We created a lot of noise on social media, alongside several physical activations over the winter. We quickly sold out of several of our first styles. It was quite moving, also to feel support from people I’ve met along the way — it gave us a strong start.
But we’re constantly growing, and it has all been organic. I’m very proud of that.
Now we’re entering the next phase. BLK.LAB11 has a strong online universe, but we want to be more than that. We’ve just invested in a physical showroom and store at Kronprinsessegade 40, and we’re planning a lot of activations around that.
I’m really looking forward to sharing more about it.”
What are the ambitions for the longer term?
“They are big. Despite a strong start, not enough people know about us yet. I think most founders probably feel that way in the beginning. But we know where we want to develop.
First of all, we need to establish ourselves properly in Denmark. But we’re proud that we’ve already shipped orders to most of Europe.”
Who inspires you?
“I’m inspired by many people. It doesn’t necessarily have to be about people’s results, but more their energy and outlook on life, and the way they approach things.
Those who are decent along the way, who manage to keep a clean path behind them and do things intelligently — there are fortunately many of them.”
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JOE & THE JUICE opens bespoke flagship at Copenhagen Airport
JOE & THE JUICE opens bespoke flagship at Copenhagen Airport
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Over the past few weeks, we’ve followed JOE & THE JUICE’s rapid global expansion. The company is now closing in on 500 stores worldwide, a milestone on the way toward its ambition of 1,000 locations by 2028.
This growth has recently been supported by a new investor, injecting DKK 320 million into the business. The announcement came alongside the presentation of the company’s latest annual results. (Read more here)
Yet the home market remains as important as ever for JOE & THE JUICE. Last year saw the opening of House11 in central Copenhagen, and the next major investment in its hometown is now ready to launch — a specially developed concept designed for airport environments.



Photo: Michael Clausen from Copenhagen Airport (left) and an illustration of the pink airplane from JOE & THE JUICE’s new store concept (right).
“…a small taste of Copenhagen to take with you on your journey”
The interior combines Danish design furniture with a relaxed lounge atmosphere and a series of bespoke elements spread across nearly 300 square metres. The store is designed to handle heavy passenger traffic and a constant high pace. To ensure an efficient flow, 11 self-service units have been integrated, allowing travellers to quickly pick up their order on the go or enjoy it in a lively setting before departure.
Frederik Holch Schmidt, Country Director Denmark at JOE & THE JUICE, says:
“We wanted to create a space that works with the pace of an international airport, while still carrying the energy that defines JOE & THE JUICE. With more space and a different approach to design than our other locations, we’ve been able to think bigger in both expression and atmosphere. The store meets different needs and gives passengers the signature JOE experience to take with them on their journey.”
Michael Clausen, Director of the Shopping Centre at Copenhagen Airport, is equally enthusiastic about the collaboration.
He says:
“Our long-standing partnership with JOE & THE JUICE is built on a shared ambition to continuously elevate the passenger experience. It means a great deal to us to open a flagship store developed specifically for our environment. With a new design, high-quality materials, and distinctive features — including a pink aircraft breaking through the wall — the store becomes an experience in itself, while also offering travellers a small taste of Copenhagen to take with them on their journey.”
JOE & THE JUICE has been part of Copenhagen Airport since 2009. From Friday, when the new store opens, it will operate five locations within the airport.
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Vipp returns to its beginnings with a new collaboration
Vipp returns to its beginnings with a new collaboration
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“Holger, I need a bin for my salon. Can you make one for me?”
This is how the story of the Danish design brand Vipp began. It takes us back to 1939, when hairdresser Marie Nielsen asked her husband, Holger Nielsen, that very question.
Vipp revisits its iconic pedal bin in a limited edition collaboration with HENRI

This became the very first Vipp bin, and through Marie’s salon, further requests soon followed. Before long, the bin was found in Danish medical and dental clinics, and from there its development gathered pace.
Today, it is a piece of Danish design history, and Vipp now produces a wide range of recognised products.
The icon remains the bin, with very little changed over time. In 1992, when Jette Egelund, daughter of Marie and Holger, took over the company, the lid was refined. But she also reshaped the mission together with her children: Holger’s design should now also belong in private homes.
She introduced the bin to some of Scandinavia’s leading furniture and design stores, and today Vipp is an internationally recognised brand sold worldwide.
More than 80 years after Holger delivered his first bin to Marie, Vipp remains family-owned and operated. For many years, their son Kasper Egelund served as CEO, and today he is brand director, following the recent appointment of Morten Woldum as CEO. Woldum has been with the company since 2010.
And so we arrive at the actual news.
Vipp has never lost sight of its origins. In a new collaboration with Copenhagen-based salon group HENRI, the brand relaunches its iconic pedal bin in a limited edition, symbolically returning it to where it all began.
“Bringing the bin back into a salon context feels like closing the circle”

On the left is Marie’s salon, where the story of Vipp began with the first pedal bin in 1939.

The collaboration also points to a meeting between two Copenhagen-based brands with an eye for craftsmanship and aesthetics. Since its founding in 2014, HENRI has developed from a modern men’s hair salon into a universe with eight locations across Copenhagen and its own product line.
The new edition is finished in Henri Teal, a muted blue-green shade developed in collaboration between Vipp and HENRI.
As Jette Egelund tells Vipp’s own channels:
“If you go back to the beginning, Vipp started in a salon. My father originally made the first pedal bin for my mother’s hairdressing salon. For decades, his bins were primarily used by professionals such as doctors, dentists and hairdressers, before finding their way into private homes. Bringing the bin back into a salon context feels like closing the circle.”
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Another record year for Les Deux: 14 consecutive years of growth
Another record year for Les Deux: 14 consecutive years of growth
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It is far from a given. The global fashion and textile market remains under pressure. Yet Denmark’s Les Deux continues to move in the opposite direction.
The Copenhagen-based lifestyle brand closes 2025 with revenue growth of 13 per cent, marking its 14th consecutive year of growth.
Profit before tax reached €8.68m, while gross profit rose to €16.04m and equity increased to €17.94m, underlining a year of strong performance, even as the company continues to invest in its future.
In recent years, Les Deux has focused on working more directly with its markets. In practice, this means fewer agents and greater control over its own sales. Regions such as Benelux, Switzerland and Greece have recently been brought in-house.
At the same time, the brand has expanded its physical footprint. More than 250 new retail partners have been added globally, alongside new showrooms in London and Amsterdam. An international flagship store in Paris further strengthens its presence. We covered that launch in a previous piece.
Looking ahead, Les Deux expects continued double-digit growth in 2026, with a pre-tax profit in the range of €10.0–11.4m.
In connection with the results, we sat down with co-founder and CEO Kristoffer Haapanen.
“We are an international brand with a clear identity and a very strong foundation.”

LD Co-Founders: Andreas von der Heide & Kristoffer Haapanen
“For us, it is not an either-or, but a deliberate interplay.”
Kristoffer, 14 consecutive years of growth – the numbers speak for themselves. But where does Les Deux stand as a brand in 2026?
“Anno 2026, Les Deux is no longer just a Danish clothing brand with a good story, but an international brand with a clear identity and a very strong foundation. We have managed to stay true to our core while scaling globally, particularly across Europe and North America.
We have added another layer to a journey as a strong, community-driven brand with a focus on relevance in everything we do.”
The broader market remains under significant pressure, yet you have consistently found your own way. How much do intuition and data respectively influence your decisions?
“For us, it is not an either-or, but a deliberate interplay. Data provides direction and clarity. It helps us understand our customers, optimise our assortment and react quickly to changes in the market, but data can only tell us what has happened, not necessarily what comes next.
This is where intuition comes in, and as our brand is built on a creative approach, that part cannot be fully formalised, and it is often what makes the difference when we make more forward-looking decisions.”
“More partnerships and news to come”
What has been the most important value for you to hold on to along the way?
“From the very beginning, it has been essential for us to build something that feels authentic – in our products, our storytelling, and the way we run the business. We have been very intentional about staying true to who we are and what we stand for. That applies to everything from our aesthetic to the way we communicate and the communities we build around the brand. Authenticity creates trust, and trust creates long-term value.
You could also say that we hold on to what might be considered ‘old’ values, local initiatives, offline collections, in-person visits and conversations. Perhaps old, but good values, if you ask me.”
What is the next level for Les Deux? What are you aiming for now?
“We have always had an endless drive to do more, and that is no different going forward. 2026 has started with continued double-digit growth, and I am very excited about the future, which holds even more interesting partnerships at an even higher level than before. I cannot reveal everything just yet, but there are plenty of good reasons to keep following along.
We continue to develop our community thinking, with new initiatives aimed at making it even more attractive to visit local stores. Last year we were proud to be behind the renovation of a basketball court in Copenhagen, and I can already reveal that we are working on another project in a rather unique location.”

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New investor injects USD 50 million into JOE AND THE JUICE
New investor injects USD 50 million into JOE AND THE JUICE
🇩🇰 Du finder den danske version af denne artikel her.
Earlier this month, it became clear that Joe & The Juice is approaching another milestone. The Danish chain now operates 488 stores globally, edging closer to the 500 mark. In the first quarter of 2026 alone, 19 new locations were opened, while the ambition of reaching 1,000 stores by 2028 remains firmly in place.
This week, the company released its 2025 annual report, and the direction remains consistent: upwards.
Revenue increased by 16.5% to USD 520 million, while operating profit (EBIT) rose by 19% to USD 32 million. According to the company, growth has been driven by both continued store expansion and strong performance in existing locations, with increasing footfall and a brand that is becoming more embedded in everyday consumer routines. For 2026, the company expects revenue growth of a further 10–15%.
But the most notable development lies elsewhere.
Joe & The Juice has brought in a new strategic investor. The Abu Dhabi-based investment firm Emirates International Investment Company (EIIC), part of National Holding Group, has entered the company in a transaction valuing the chain at USD 1.8 billion.
“The funds will be used to support our continued growth”


The majority owner is considering an IPO
EIIC has invested approximately USD 50 million into the business, capital that will be used to further accelerate international expansion and continued development of the company.
“The funds will be used to support our continued growth, including the opening of new stores globally as well as the further development of the business,” says Rune Chrøis, Head of Communications at Joe & The Juice.
The timing is noteworthy. Several international outlets have pointed to the company’s majority owner, General Atlantic, exploring a potential IPO, with valuations reportedly approaching USD 2.2 billion.
In other words, Joe & The Juice is not only expanding its global footprint, but also entering a financial phase where both valuation and ownership structure appear to be in motion.
Continued coverage on dontt.dk
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Ganni changes CEO amid sale process
Ganni changes CEO amid sale process
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The Danish fashion brand Ganni, which in recent years has established itself as a global success, is once again changing leadership at the top.
After just two years, Laura du Rusquec has stepped down as CEO. Her departure follows a period in which the brand has expanded its Paris footprint with a French headquarters and taken on a more visible role on the official Paris Fashion Week calendar.
Du Rusquec joined Ganni in April 2024, bringing experience from the Kering group (Gucci) as well as a senior role at Balenciaga.
At the same time, it remains an open secret that the Danish fashion darling is still up for sale.

"He has previously worked closely with private equity firms and been involved in major transformation and IPO processes"

Hans Hoegstedt
Senior executive steps in
Rothschild & Co has been appointed to oversee the search for a new owner on behalf of majority shareholder L Catterton, which has held its stake since 2017. According to our information, a transaction may not be far off.
Ganni says the new appointment is a temporary arrangement.
The role has been given to Hans Hoegstedt, who brings a broad leadership profile with experience across energy, industry and fashion. He was previously CEO of Italy’s Miroglio Fashion and the design company Tom Dixon, and began his career in brand management at The Coca-Cola Company.
He has also worked closely with private equity firms and been involved in major transformation and IPO processes.
Hoegstedt steps into a structure where Ditte Reffstrup retains creative responsibility from the Copenhagen headquarters, while Nicolaj Reffstrup remains active in the company’s development.
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Rains lands on one of Shanghai’s most exclusive retail addresses
Rains lands on one of Shanghai’s most exclusive retail addresses
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Rains continues to build on its international momentum, opening its first-ever flagship store in Asia this week — located in the sought-after HKRI Taikoo Hui in Shanghai.
The development spans more than 320,000 sq m and extends well beyond retail, housing offices and two hotels alongside the shopping centre. It brings together some of the world’s leading brands and concepts, from Louis Vuitton installations to Zegna cafés and stands as one of the city’s most premium retail destinations.

Daniel Brix Hesselager and Philip Lotko cut the ribbon in Shanghai.

HKRI Taikoo Hui, Shanghai
Part of a broader transformation
But first, a bit of context.
When we last covered Rains towards the end of last year, the brand was in the midst of a broader transformation. The shift marked a move away from a traditional wholesale model towards a 360-degree retail approach — spanning everything from assortment and logistics to store concepts and the overall customer journey. Two main seasons were expanded into four, with 12 annual drops designed to create ongoing curiosity and bring the brand closer to its customers.
At the time, Daniel Brix Hesselager said:
“We are expanding from primarily outerwear and bags into a full lifestyle universe, including ready-to-wear, home decor, footwear, skiwear and activewear. We want to give customers the opportunity to go deeper into the Rains universe. We are moving from two main seasons to four seasons and 12 deliveries a year, with monthly drops.”
And there is, clearly, action behind the words.
One of the most tangible moves is this week’s opening at HKRI Taikoo Hui in Shanghai. The new 148 sq m store is conceived as an experience in itself.
Co-founders Daniel Brix Hesselager and Philip Lotko were both present at the opening, cutting the ribbon in front of press and a large group of Rains customers.
You can read more about Rains here:
Rains rolls out new retail concept: “Only an owner can take that responsibility”

Photo: The iconic Louis Vuitton store at HKRI Taikoo Hui.
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From small rituals to global impact: Raymond Cloosterman on building a billion brand with purpose
From small rituals to global impact: Raymond Cloosterman on building a billion brand with purpose
🇩🇰 Du finder den danske version af denne artikel her.
Conversation with Raymond Cloosterman, CEO & Founder, Rituals
In just 25 years, Rituals has grown from a basement start-up in Amsterdam into a global business with 1,500 standalone stores and a presence in 33 countries. In 2025, the company reported revenues of nearly €2.5 billion and an EBITDA of around €550 million, placing it among the fastest-growing brands in the global beauty industry.
Yet for Raymond Cloosterman, it has never been solely about products. “It was never just a product idea,” as he puts it.
Today, Rituals has committed to allocating part of its profits to supporting the mental wellbeing of millions of young people, just one element of a broader ambition to create meaningful, positive impact.
In connection with a major relaunch, we met Raymond Cloosterman in Amsterdam for a conversation about the journey, the responsibility, and what continues to drive him today.
"... it was never just a product idea"

Raymond Cloosterman, CEO & Founder, Rituals
"Happiness and wellbeing are not found in one big life change. They are created through small rituals that you repeat every day"
Raymond, Looking back, can you remember the vision you dreamed of for Rituals when you started 25 years ago?
“Yes, I still remember it very clearly, because it was never just a product idea. It was a belief about how people want to live. I wanted to build a brand that could help people slow down and rediscover meaning in the smallest moments of their day.
I was lucky enough to travel a lot because of my previous job, and I was inspired by ancient Asian traditions, but what stayed with me most was something universal. Happiness and wellbeing are not found in one big life change. They are created through small rituals that you repeat every day.
From the start, I wanted Rituals to be a complete world of experience. The fragrance, the texture, the design and the service had to work together. A store should feel like stepping out of the rush and into a calmer space, even if you only have a few minutes. And I wanted it to be accessible. Premium in experience, but not exclusive in attitude.
If you ask me what the vision was in one sentence, it is still the same today. We are not here to sell you beauty. We are here to make you feel good. We call it feelgood luxury.”

How important is it for you to preserve some form of the original start up spirit at Rituals?
“It is absolutely essential, I believe that spirit is what keeps a company alive. We should protect this culture at any sake. When you are small, you are naturally close to the customer. You listen more carefully, you move faster, and you feel every detail. When you grow, you risk replacing that with distance and routine. So, preserving the start-up spirit is really about protecting a mindset. It means staying curious and never assuming you have it all figured out.
For me, it also means keeping the business connected to the store floor. That is where the magic happens. It is where you see what customers respond to, and what they expect, where you feel the energy of the teams, and where you notice immediately when something is not good enough. It is also why innovation matters so much. Not innovation as a buzzword, innovation is a habit. If you keep creating, improving and refining, you stay relevant. If you stop, you become predictable. The goal is to grow but to keep the start-up mentality and culture. You can build structure and discipline, but you should never lose the hunger and the creativity that made the brand special in the first place.”
"Building meaningful connections instead of just following the latest trends"
What has been your most important leadership principle over the years?
“Stay true to your brand’s philosophy and lead with purpose. Leadership isn’t just about growth or profit, but about building something meaningful and consistent. A few key ideas behind this principle. I believe in sticking to the core vision of Rituals, transforming everyday routines into meaningful moments, rather than chasing short-term market trends.
Also, strong company culture and values are central. Leadership is creating an environment where people feel connected to the mission. Lastly, Rituals isn’t just selling products, it’s selling an experience and a mindset. That requires to think beyond transactions, to build a brand with a soul, not just a business.”
Where do you continuously find the drive and energy to lead Rituals at the forefront of the industry?
“My energy comes from our purpose, building a brand that adds meaning to people’s daily lives. As long as we keep evolving, innovating, and staying true to that mission, the drive comes naturally.
I also get energy from learning and from the responsibility that comes with scale. When you become a bigger player, you no longer have the ‘luxury’ of saying, “We are too small to make a difference.” You have power and you have the ability to help move standards in the industry in the right direction. For me, sustainability becomes very concrete there.
It is the daily work of making better choices in packaging, reducing unnecessary materials, improving recyclability, increasing our refill collection, and constantly challenging ourselves to do more with less, without compromising on the experience our customers expect. These are not headline moments. They are thousands of decisions that, at our size, add up to real impact.
That is also why Profit Pledge matters to me. It is a commitment to link performance to positive impact, and to make sure that as we grow, we also give back and contribute in a meaningful way. It creates a deeper kind of motivation, because it connects ambition with values. It reminds us that leadership today is not only about staying ahead commercially. It is about using your success to help push things forward, and proving that growth and positive impact can, and should, go hand in hand.”
"If we succeed, the milestone will not be a number"
What do you see as Rituals next major milestone?
“It is about deepening what Rituals stands for and how we show up in people’s lives. We have proven that the concept can scale internationally. Now the opportunity is to make the wellbeing experience even more meaningful, even more consistent, and even more human, everywhere. To raise the bar and to become the most well-known wellbeing brand in the world.
That means continuing to elevate the store experience, because experience is our true product. It also means continuing to innovate in a way that feels relevant, so that small routines and rituals stay easy to integrate into daily life, and not something that only exists in a perfect world. And it means building the company responsibly, so that our growth comes with clear commitments and measurable progress. If we succeed, the milestone will not be a number.
It will be that Rituals becomes even more trusted and even more loved as a brand that genuinely helps people feel better in everyday life.”

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