City-founded luxury brand sold

Belstaff bought by sportswear group

- Sentinel Reporter

LUXURY men’s clothing brand Belstaff has been sold - 101 years after it was set up in Stoke-on-Trent.

Sportswear group Castore has bought the company from billionaire Sir Jim Ratcliffe’s Ineos group.

Under the deal, the terms of which have not been disclosed, Ineos will make a ‘significant strategic investment’ in Castore’s holding company.

News of the sale comes after Belstaff reported losses every year since it was bought by Ratcliffe’s oil and chemicals empire in 2017.

The most recent published accounts showing a pretax loss of £18.3m in the year to December 2023.