Labelux Buy Belstaff For $161 Million
Switzerland's luxury brand Labelux was bought last month.
Mr. CEO Manuele Malenotti of Belstaff brand said the acquisition brought a brand new company.
Belstaff has always been a clothing company of the Malenotti family, and this enterprise will continue to produce Capalbio and Lewis Leather series. Sales of Belstaff brand in 2010 amounted to $117000000, an increase of 10% over 2009, while the US and UK grew fastest.
In 2008, the Belstaff brand was planned to go public, but it was global.
The Malenotti family has also set up M Symbol, which produces clothing for films. The company's first mission is to produce jackets for the movie "Captain America". The Belstaff brand has always been associated with Hollywood movies. The brand's jacket has appeared in more than 90 movies. The upcoming movie will appear in the movie "Real Steel", "Twilight", "The Girl With the Dragon Tattoo" and so on.
The Malenotti family has also set up a fund, including Unicredit bank and Banca Intesa, which aims to support Italy's manufacturing and protect luxury brands.
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