Diesel company buys Viktor & Rolf

ITALY: Diesel company buys Viktor & Rolf brand

By just-style.com | 22 July 2008

Artists and designers Viktor Horsting and Rolf Snoeren have sold a majority stake in their Viktor & Rolf label to the owner of the Diesel brand.

Italian industrialist Renzo Russo's Only The Brave (OTB) holding company paid an undisclosed sum for a majority stake in the Dutch designers' Paris-based company following more than two years of negotiations.

Now OTB plans to develop the Viktor & Rolf brand on an international basis, managing its fashion lines and creating new licensing agreements, as well as improving distribution and communication.

A dedicated team within Staff International, OTB's prêt-à-porter manufacturing and distribution arm, will manage the exclusive licence of Viktor & Rolf's men's and women's collections for clothing, shoes and accessories, beginning with the autumn/winter 2009 season.

Viktor & Rolf said the production of the collections would be "further developed", with distribution to be handled through showrooms in Paris, Milan, Tokyo and New York.

"Ever since the beginning of their career, Viktor & Rolf have tickled my curiosity for their unbelievable out-of-the-box creativity," said Russo, president of OTB.

"We studied each other for more than two years to get to this point as I only believe in true partnerships with designers, where a common ground is shared."

In a joint statement, Viktor & Rolf said they wanted to develop the fashion house "to its full potential", adding: "For quite a while we have been looking for a partner. We were not just looking for someone with the money and the know-how to realise our dream, but also someone with a kindred spirit and attitude.

"We admire Renzo Russo's unconventional nature and the success it has brought him. We decided to join forces with him because his motto 'Only the Brave' appeals to us. True creation requires courage."

OTB, with 2007 revenues topping EUR1.3bn (US$2.1bn), has companies including Diesel, 55DSL, Neuf, Sophia Kokosalaki and Staff International, which makes and distributes ready-to-wear ranges for Maison Martin Margiela, Sophia Kokosalaki, Diesel Denim Gallery, Dsquared and Vivienne Westwood.

Sectors: Apparel

Companies: Only The Brave