Diesel owner makes bid for Belstaff

328
belstaff

The parent company of Italian fashion retailer Diesel is rumoured to have made a bid for British fashion brand Belstaff.

OTB Group, which also owns the Italian brands Marni and Viktor & Rolf, allegedly tabled an offer for the retailer in recent weeks, according to the Sunday Times.

A spokesperson from Diesel has since dismissed the takeover speculation, telling the Retail Gazette that it was “incorrect and untrue”.

READ MORE: Michael Kors enters Jimmy Choo bidding race

Belstaff, known for its iconic motorcycle jackets, was put up for sale in April by its owner, the German billionaire Reimann family.

The fashion retailer was purchased by the Reimanns in 2011 for £100 million, but they could be asking as little as £3 million for the brand, which made a loss of £4.8 million in the year to December 2015.

The family also placed its controlling stake in Jimmy Choo up for sale recently, sparking interest from CVC Capital Partners and Chinese firm Hony Capital.

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here