Labelux, the Swiss luxury goods group which acquired footwear brand Jimmy Choo last month, has added outerwear brand Belstaff to its portfolio following a €110m (£97.9m) transaction.
Belstaff, which is famed for its waxed cotton biker-style jackets, was previously part of the Malenotti family-owned clothing company, an entity that will continue to exist and produce the Capalbio and Lewis Leathers lines.
As a result of the sale, a new company called Belstaff Italia, has been created that will continue to produce the Belstaff brand under the Labelux umbrella, which includes other brands such as Swiss luxury accessories label Bally, US clothing label Derek Lam, and Italian accessories brand Zagliani.
Commenting on the acquisition, Reinhard Mieck, chief executive of Labelux, said: “We are delighted to announce this acquisition. Belstaff is a unique asset with great heritage, a strong following and a very promising future as a major international luxury brand. I look forward to announcing our exciting plans for Belstaff in the near future.”
Belstaff is believed to have an ambitious development plan which will be accelerated with the support of Labelux, with a particular focus on geographical expansion and product extension.
Belstaff retails through 14 owned stores and has more than 1,000 points of sale worldwide.
Last month Labelux acquired luxury footwear and accessories label Jimmy Choo in a deal believed to be worth around £500m.