Belstaff receives offer from Diesel owner OTB - report
23 JUL 2017
OTB Group, the luxury retail company which owns the Diesel, Viktor & Rolf and Marni brands, has bid for the UK-based fashion retailer Belstaff, The Sunday Times reported. City sources cited in the report said the offer from Italy-based OTB was made during the past few weeks.
The Reimann family of Germany put Belstaff on the market in April, the report said. The family paid almost GBP 100m (USD 130m) to acquire the business six years ago but one analyst suggested a sale now could be worth just GBP 3m (USD 3.9m), the item reported.
Belstaff made a GBP 4.8m loss on GBP 7.8m sales in the 12 months to the end of 2015, the report noted.
The original item appeared in The Sunday Times, Business & Money section