LONDON — Belstaff isn’t headed back to Italy — at least not for the moment.
OTB, the fashion group owned by Diesel founder Renzo Rosso, denied a report in The Sunday Times of London that it has tabled an offer for Belstaff, the London-based outerwear, clothing and accessories brand. Belstaff had no comment.
Belstaff is one of a trio of luxury brands that belongs to JAB, the multinational giant and parent of Coty Inc. and Reckitt Benckiser, that is looking for a new owner.
JAB, which also owns coffee brands Espresso House, Baresso and Jacobs Douwe Egberts, announced in April that it was exiting the fashion business in order to focus on coffee and consumer goods going forward.
OTB would have been Belstaff’s second Italian owner after the Malenotti family, which sold the label in 2011 to Labelux (later folded into JAB), Tommy Hilfiger and Harry Slatkin. JAB eventually took full control of Belstaff.
Belstaff was founded in Staffordshire in the English Midlands in 1924, and quickly became known for its waxed cotton fabric jackets beloved of motorcycle enthusiasts.
While the Malenotti family focused on the outerwear offer alone, JAB relaunched the brand as a luxury label, with big ambitions and ad campaigns starring the likes of Ewan McGregor and David Beckham.
Under its chief executive officer Gavin Haig, the company lowered its prices, began rolling out stores worldwide and building up its clothing and accessories offer, although it is still best known for its luxury outerwear, motorcycle and belted biker jackets.
Earlier this year, Belstaff teamed with the Australian eyewear company Imatta on a collection of frames, part of its expansion into new lifestyle categories. The frames are handmade in Japan with premium materials such as beta titanium, Japanese acetate, Zeiss lenses and hand-waxed leather supplied by Belstaff.
According to Companies House, the official register of U.K. businesses, in the fiscal year ended Dec. 31, Belstaff’s 2015 sales were 7.9 million pounds, a 3.4 percent decrease on the previous year. Losses shrank to 4.8 million pounds from 7.6 million pounds in the previous period.
In 2015, Belstaff’s fiscal year was 11 months long as the company aligned its fiscal year with the calendar year.