LONDON, February 1, 2016 /PRNewswire/ --
Belstaff announces the transferal of its trademark and finance function back to the UK from Switzerland.
(Photo: http://photos.prnewswire.com/prnh/20160129/327480 )
These factors herald the completion of the brand's return to its birthplace, originating in Stoke-on-Trent in 1924, but headquartered variously in UK, Italy and USA. Belstaff HQ returned to Britain in July 2014 with Gavin Haig joining as CEO and the design studio and other functions being rehoused above the London flagship.
Gavin Haig CEO said: "Belstaff is proud to finally be able to genuinely call itself a modern British heritage brand. Our key operations stem from the UK and we now count three Brits among our senior management team. Only Belstaff production remains stationed in Italy, although our wax cotton is produced in Northern England and we hope to grow our UK production further."
This news coincides with the appointment of CFO Mike Woodcock, joining Belstaff from Montblanc. Woodcock previously worked with Haig at Dunhill (also Richemont). Woodcock is masterminding the move over of all IP, looking to straighten out the business model via SAP implementation, trim overheads, streamline working practices and reduce key offices from 5 (previously London, Milan, Switzerland, New York and Venice) to 1 (London HQ) with a Venice sourcing hub.
He said, "I was delighted to accept the appointment as Belstaff is clearly moving with immense speed. I wanted to be part of building something great at this point in my career."
Belstaff has been busy. A global expansion program is well underway: Belstaff Japan K.K. was set up last July and 4 Japanese stores will open this year. 3 stores were opened in Seoul since Sept 2014 plus one in Macau last October. From having one London store in 2013, there are now three, two which opened in last 6 months.
Revenue for year to 31st January is on track to be 20% higher than the previous year and Haig forecasts similar growth for the upcoming financial year.
Expansion this year will be aided by acceleration of the women's business with new collections and Liv Tyler as the face of the brand; returning to print advertising in the second half; new shoe and accessories collections (currently these count for 10% of sales; Haig predicts they could be a third within three years).
Belstaff continues at speed through 2016: the men's AW16 collection and new campaign 'Worship the Ground' featuring Sir Ranulph Fiennes and shot by Rankin launched on this January.
New ambassador Liv Tyler will reveal her first film for Belstaff to industry insiders during New York Fashion Week in February and her first capsule collection designed alongside Belstaff women's designer Delphine Ninous, during London Fashion Week.
To follow are a capsule collection designed with the sons of James Hunt in celebration of the 40th anniversary of their father's F1 championship win at Fuji in '76 and an attempt to break the land-speed record on two wheels.
Haig added: "We are a challenger brand, with plenty of discipline and having the bulk of our operations in London means we can move swiftly to expand. This will be a year of change and growth."
About BELSTAFF:
Belstaff is a global British luxury lifestyle brand steeped in its heritage and spirit of adventure. In Belstaff, the fearless explorer and the fashion enthusiast alike will discover an approachable luxury for a modern lifestyle all influenced by Belstaff's rich history and archives.
Belstaff is headquartered in London and showrooms reside there and in New York, Milan and Munich. Belstaff is currently sold through its flagship on New Bond Street, and twelve stores in Europe, the United States and Asia, through select wholesale distribution worldwide and on http://www.belstaff.com
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