WeSC Surges After U.S. Oved License Deal: Stockholm Mover

WeSC AB, a Swedish fashion retailer, rose the most since 2009 after the company agreed to grant Oved Apparel Corp. an exclusive license for its clothes in the U.S.

The 10-year agreement gives WeSC 10 percent of Oved’s sales of its brand and minimum payments of 115 million kronor ($16 million), the Stockholm-based company said in a statement.