OTB, the holding company founded by Renzo Rosso, owner of Diesel, among other international fashion brands, has denied a story in the July 23 issue of The Sunday Times that said it was looking to acquire renowned leather jacket brand Belstaff.

In April 2017, Belstaff’s owner, JAB Holdings, an investment company owned by the billionaire Reimann family of Germany, expressed its intention to concentrate mainly on its own food and consumer goods divisions, including Coty and Reckitt Benckiser. Thus JAB put its fashion brands Belstaff, Bally and Jimmy Choo up for sale.

JAB might be seeking to sell the iconic leather jacket brand for as little as £3 million, despite the fact that it acquired it for £100 million in 2011. Belstaff reported a £4.8 million loss in FY 2015.

Belstaff was born in the UK in 1907 as a protective motobike jacket. Its fame grew after its jackets were worn by iconic movie protagonists including Leonardo Di Caprio in The Aviator and Keanu Reeves in The Matrix and by testimonials such as Kate Moss and David Beckham.

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