Struggling brand sold by Jim Ratcliffe’s Ineos, which is to take ‘strategic investment’ in Castore’s holding company
Belstaff, the struggling British fashion brand known for its heritage motorcycle gear, has been bought by the sportswear group Castore from the billionaire Sir Jim Ratcliffe’s Ineos.
Under the deal, the terms of which have not been disclosed, Ineos will make a “significant strategic investment” in Castore’s holding company.
Belstaff has reported losses every year since it was bought by Ratcliffe’s oil and chemicals empire in 2017, with the most recent published accounts showing a pre-tax loss of £18.3m in the year to December 2023. Sales fell 3.6% to £57.6m, according to accounts filed at Companies House.
Belstaff was founded in 1924 in Stoke-on-Trent, Staffordshire, and is known for its waxed jackets once promoted by Kate Moss and David Beckham. It was bought by Ineos in 2017 from JAB Holding, the German investment firm which owns the British coffee shop chain Pret a Manger and previously owned the luxury footwear brand Jimmy Choo.
