Flamboyant businessman acquires Midlands-founded clothing brand

Belstaff

The flamboyant businessman behind plans to build a new version of the Land Rover Defender has splashed out on the acquisition of another Midlands design icon.

Jim Ratcliffe, who owns the petrochemicals group Ineos, revealed earlier this year he plans a £600m project to launch his own version of the classic off-roader, which he has dubbed Projekt Grenadier.

Not content with that, he has now acquired clothing brand, Belstaff Group from JAB Luxury, a private investment vehicle for the billionaire Reimann family in Germany, in an undisclosed deal.

The deal sees the brand, originally founded in Stoke-on-Trent and best-known for its motorcycle gear, return to British ownership.

Belstaff began producing jackets in the Potteries in 1924. It was the first company in the world to use waxed cotton to manufacture ‘breathable’ yet waterproof clothing.

The brand, with its links into exploration, aviation and motorsport, suits the businessman’s character. Today it is known around the world, with outlets in mainland Europe, the United States and Asia. The business employs around 200 people.

The acquisition and transfer of ownership is targeted to complete within Q4 this year, subject to the receipt of regulatory approvals.

Belstaff will be a separate entity within Ineos but the group’s wider plans for the new acquisition have yet to be revealed.

It has said an announcement on this will be made in due course.

One option could lie with Projekt Grenadier, with the possibility of a new clothing and lifestyle collection to coincide with the vehicle’s development. The trend is one adopted by the likes of Jaguar Land Rover and Aston Martin, along with other luxury vehicle manufacturers.

Ineos is the 200th largest company in the world. It employs 18,500 people across 105 sites in 22 countries. With sales of $40bn it is also Britain’s largest private company.

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