Belstaff Puts IPO Plans On Backburner Following Brexit Vote

by MR Magazine Staff

Belstaff has put plans to float on the backburner following the shock Brexit vote, the boss of the luxury fashion brand has revealed.  Chief executive Gavin Haig said he had “deprioritised” the potential move just seven months after moving the trademark and the finance operations of the brand — sported by actors including Steve McQueen and Sarah Jessica Parker — back to London. Instead, Haig said he will now concentrate on growing the business in the UK with existing capital from parent JAB, the holding company of billionaire German industrialists, the Reimann family. He told the Standard: “Post Brexit, we see the luxury and overall market volatility as an opportunity for challenger brands to cut through.” Read more at Evening Standard.