(advertisement)
(advertisement)
Diesel-owner denies eyeing up Belstaff

OTB Group, the fashion group held by the founder of Diesel Renzo Rosso, has denied it has made an offer for Belstaff following a report from the Sunday Times.

Belstaff, currently owned by JAB Holdings, the parent company of Coty and Reckitt Benckiser, was previously put up for sale in April as the company aimed to focus its business on coffee and consumer goods. OTB Group is said to have submitted an offer for the British fashion brand to JAB Holdings owners, the billionaire German Reimann family.

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.

The family, which also put up its controlling stake in Jimmy Choo for sale this year, is said to have drawn interest from private equity CVC Capital Partners and Hony Capital. JAB is believed to be seeking as little as 3 million pounds for the brand, which was acquired by the company back in 2011 for 100 million pounds, as the brand reported a 4.8 million pound loss in FY 2015.

However, OTB has denied making an offer for the London-based apparel brand according to WWD. FashionUnited has reached out to Belstaff and OTB for additional commentary.

Photo: Diesel