Anders' parents, Troels Holch Povlsen and Merete Bech Povlsen, opened the family's first store in 1975 in the small Danish town of Ringkobing.

FORBES: Anders Holch Povlsen

They are still involved in the business, Merete is its chairman and Troels sits on the board, but Anders is now its owner.

FORBES: Anders Holch Povlsen