The IPO Plan For The UK Brand Belstaff Is Shelved.

Britain brand Belstaff said that the IPO plan of the company will be shelved because of the uncertainty caused by the referendum. In June 23rd this year, the British pound broke away from the European Union in the wake of Brexit's departure from the US dollar, which has plummeted to its lowest level in 30 years.

Belstaff chief executive Gavin Haig said the brand will focus on the UK first. market The growth is due to the market volatility of Brexit, and the brand is temporarily unsuitable for listing.

Belstaff, founded in 1924, was Switzerland in 2011. Luxury goods Group Labelux Group GmbH acquired, and Labelux Group GmbH was integrated by Joh. A. Benckiser GmbH of parent company Germany investment group in 2014. The four luxury brands originally belonging to the Labelux Benckiser company were integrated into the new luxury sector.

In early January 2016, Belstaff spanferred trademarks and finance from Switzerland to the United Kingdom, and appointed Mike Woodcock, Montblanc, from MontBlanc Montblanc as chief financial officer, hoping to re establish its traditional British luxury brand, and hope to finally achieve IPO IPO as the group brothers brand Choo. The move also reduced the group's 5 offices in London, Milan, Castellano, New York and Venice to a Venice headquarters in London headquarters.

After suspending IPO, Belstaff hopes to open more stores in the UK with the huge financial resources of its parent company. The brand currently has 13 stores, including 5 in the UK (3 in London, 1 in Manchester, 1 in Glasgow), and the Asian market is the most valued market for Belstaff, which has 3 stores in Seoul, 1 in Macao, and New York, Munich, Milan and Tokyo in Japan also have a Belstaff store. It is reported that Belstaff sales increased by 20% in the fiscal year ended January 31, 2016, but the company did not disclose specific sales.