Danish billionaire, Anders Povlsen, lost three of his four children in the Sri Lanka bombing attacks, a police source has told BBC.
The family was visiting the country for Easter, however, the names of the children have not been made public.
Mr Povlsen owns international clothing chain Bestseller. He also holds the biggest shares as a single shareholder in clothing giant, Asos.
Povlsen is also the largest private landowner in the United Kingdom, according to the Times newspaper.
A spokesman for Bestseller said in an email: “Unfortunately, we can confirm the reports. We ask you to respect the privacy of the family and we therefore have no further comments.”
The death toll in the Sri Lanka attacks has now hit 290 and over 500 injured following several blasts at churches and luxury hotels on Sunday.
The government has blamed a little-known local jihadist group, National Thowheed Jamath, though no one has claimed responsibility for the attacks.
Security forces have arrested 24 people in connection with the incidents.
The vast majority of those killed are thought to be Sri Lankan nationals, with about 36 believed to be foreign nationals while most are still unidentified at a Colombo mortuary.
