Rumours had been going around for some time, but now it is finally official. The Labelux Group, an Austria-based luxury company owned by the Reimann family, who are also the owners of Coty, has just announced the acquisition of English brand Belstaff.

Belstaff Spring/Summer 2011 collection

Created in 1924, the brand was bought in the mid 90s by Clothing Company, which belonged to Italian motorcycle designer Franco Malenotti. Its clothes have appeared on cinema screens various times, most notably a leather jacket worn by American actor Steve McQueen, but the brand has not always received the desired commercial success. Belstaff’s collections are very much in touch with the label’s roots in motor racing sports and aircrafts, mainly offering stylish outdoor clothing.

After having also recently acquired Italian luxury shoemaker Jimmy Choo, Labelux keeps strengthening its position among other intermediary luxury groups, but falling behind giants such as Richemont, LVMH and PPR. The group has now an impressive brand portfolio, containing labels such as Bally, America brand Derek Lam, London jeweler Solange Azagury-Partridge and Italian accessories company Zagliani.