Labelux Group, the new owner of Jimmy Choo buy Italian BELSTAFF too
Following last week’s purchase of Jimmy Choo for an alleged 570 million euros, Austrian based Labelux Group, directly owned by the German family of Riemann has completed the take over of Italian luxury brand BELSTAFF, the final transaction being expected for June 7. Labelux also owns Swiss based luxury brand Bally. Italian media estimates that Labelux paid over 103 million euros for Belstaff to Clothing Company SpA, owned by the Malenotti family.
Belstaff, a brand knowns for its rugged, masculine look luxury clothing and accessories, has enjoyed a tremendous growth in the past 5 years, at the level of awareness, through being directly featured in major Hollywood movies, the latest being Water for Elephants with Robert Pattinson and Reese Witherspoon (launched April this year) and The Tourist, featuring Angelina Jolie and Johnny Depp, launched March 2011. Robert Downey Jr, Brad Pitt and Daniel Day Louis are among the major celebrities which have been endorsing Belstaff through various movies as well a PR campaigns.