Italian Fashion Designers

Diesel Buys Majority Stake In Viktor & Rolf's Creation

Diesel, the Italian denim brand, has bought a majority stake in Viktor & Rolf, the Dutch fashion brand run by the eponymous artist and designer duo.

Only The Brave, the parent company owned and run by Diesel founder Renzo Rosso, has acquired a majority holding in the popular brand for an undisclosed amount.

Only The Brave plans to develop Viktor & Rolf, create new licensing agreements, open stores and build a luxury brand "for the future", Mr Rosso said.

"Ever since the beginning of their career, Viktor & Rolf have tickled my curiosity for their unbelievable out-of-the-box creativity. We studied each other for more than two years to get to this point," he said.

The deal shows that despite the credit crisis, merger and acquisition activity is continuing in the high-end fashion arena. Viktor Horsting and Rolf Snoeren, who founded the company in 1992, are famous for bridging the gap between fashion and art with their eye-catching designs.

They currently have an exhibition at London's Barbican Art Gallery. In 2006 they created a fashion range for H&M, the Swedish-based high street retailer.

posted by Eugen @ 2:43 AM