Sir Jim sells Belstaff

[Write-and-drive]

Jim Ratcliffe sells Belstaff to Castore as Ineos scales back lifestyle ventures

Sir Jim Ratcliffe has sold luxury jacket brand Belstaff to sportswear group Castore, taking a minority stake in return, as Ineos retreats from non-core ventures following financial struggles at the heritage label.

bmmagazine.co.uk

 

[landmannnn]

Jim Ratcliffe sells Belstaff to Castore as Ineos scales back lifestyle ventures

Sir Jim Ratcliffe has sold luxury jacket brand Belstaff to sportswear group Castore, taking a minority stake in return, as Ineos retreats from non-core ventures following financial struggles at the heritage label.

bmmagazine.co.uk

Sloppy journalism.

The fact he sold Belstaff to Castore, taking shares in Castore as payment, does not show they are exiting that market.

Castore completes the acquisition of Belstaff.

Premium brands Castore and Belstaff come together to drive further international growth. Castore acquires 100% of Belstaff, on a debt-free, cash-free basis. INEOS, the parent company of Belstaff, will make a significant strategic investment in Castore

www.ineos.com

 

[Tazzieman]

"INEOS and the management team at Belstaff have done a phenomenal job in steering the company back to profitability "

 

[bigleonski]

"INEOS and the management team at Belstaff have done a phenomenal job in steering the company back to profitability "

“Giving” 10 or 15 thousand jackets away with a new car will have that effect.

 

[Tom109]

Smart off-load.

 

[DenisM]

Smart off-load.

As I posted in the Belstaff jacket thread, Sir JR has essentially swapped one type of equity in the operation for a less hands-on stake in an expanded enterprise... You're right @Tom109 ....a smart move.

 

[Zimm]

As I posted in the Belstaff jacket thread, Sir JR has essentially swapped one type of equity in the operation for a less hands-on stake in an expanded enterprise... You're right @Tom109 ....a smart move.

He's no longer responsible for covering any operating losses, and will just get a write off if the other company tanks.

He was big into the image of saving traditional British icons with his money. This just signals financial problems. This was the only move that didn't involve shuttering the doors. Washing his hands of it without being the eventual bad guy. As such I wouldn't call it smart, I'd call it not dumb.

 

[Logsplitter]

Just seen this an Apple News

Top UK billionaire pulls investment out of Britain over Labour's energy taxes — LBC

Manchester United owner Sir Jim Ratcliffe says he will no longer be investing money into Britain through his energy empire because of Labour's tax raid on North Sea oil and gas production.

apple.news

 

[Zimm]

Just seen this an Apple News

Top UK billionaire pulls investment out of Britain over Labour's energy taxes — LBC

Manchester United owner Sir Jim Ratcliffe says he will no longer be investing money into Britain through his energy empire because of Labour's tax raid on North Sea oil and gas production.

apple.news

If he was making bank before this, he wouldnt give a shit. Just using this as cover for some bad business decisions. Using the company treasury as his playboy piggy bank caught up to him.

 

[Tazzieman]

If he gives Man United the heave-ho we might have reasons to be concerned. Until then , it's business as usual in a rapidly shifting geopolitical scenario/shitstorm.

 

[255/85]

He was looking for a reduction in tax/regulation liability out of Brexit, no?