Diesel buys Viktor and Rolf

Posted in FASHION by MelanieHick on Jul 22, 12:28PM

Diesel's parent company Only The Brave now owns Dutch label Viktor & Rolf. Diesel founder Renzo Rosso, pictured above with Heather Graham, has acquired a majority holding in the popular brand for an undisclosed amount.

Rosso sees the label as "one of the great reference labels of the future" and plans to secure its long-term success by developing accessories, jewellery and eyewear, new licensing agreements and flagship stores.

Rolf Snoeren said "We felt that we needed a strong partner to grow the business. Fashion has changed so much that in order to achieve those dreams you need a good partner."

Viktor Horsting and Rolf Snoeren founded the company in 1992 and see their label as bridging the gap between couture and art. Right now their couture is being exhibited in miniature at London's Barbican Art Gallery. They have also delivered couture to the masses via a collaboration in 2006 with H&M, the Swedish-based high street mega store. That range was a one-off which helped fund their couture collection.

Rosso is not expected to make any changes to the unique character of the brand, but rather will use his 30 years brand-building experience to build a youthful luxury brand house of the future.

Only The Brave has an annual turnover of €1.3bn (£1bn) in 2007 and in addition to owning Diesel, it also owns 55DSL, Neuf (the pret-a-porter manufacturing and distribution company behind Maison Martin Margiela), Sophia Kokosalaki and Staff International.