SWITZERLAND: Labelux snaps up Belstaff
Belstaff is the most recent addition to luxury goods group Labelux.
Swiss luxury goods group Labelux has acquired outdoor apparel retailer Belstaff from Clothing Company.
Privately owned by Joh Benckiser SE, Labelux has extended its portfolio as part of a global expansion plan. Brands within the company comprise of Swiss luxury brand Bally, New York-based apparel label Derek Lam and recently acquired global luxury lifestyle accessories firm, Jimmy Choo.
Currently retailing through 14 owned stores, Belstaff has a development plan which will be accelerated with the support of Labelux, the company said.
Terms of the acquisition were not disclosed.
"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," said Labelux chief executive officer, Reinhard Mieck.
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