Fashion
Belstaff sales dip but losses narrow as margins rise
Published
October 1, 2025
Belstaff International Limited’s accounts for 2024 have been filed and show its sales falling again, this time by 5.2% after a 3.6% drop in the previous year. Turnover for the latest financial year was £54.6 million.
That said, the gross margin percentage rose healthily to 28.1% from 25.9% while gross profit increased to £15.35 million from £14.93 million the year before.
Operating profit at the company dropped sharply to £593,246 from £2.123 million due to the prior year benefiting from a provision release in relation to a store lease that it surrendered early and foreign currency revaluation gains on inter-company loans. But the fall was partially offset by the stronger gross profit following improvements in margin and lower administration expenses.
The final profit figure was actually a loss of £15.9 million, which was actually narrower than the £18.3 million loss in 2023.
In the accounts, the company said the business objective is to grow both revenue and profitability, which begins with a renewed focus on brand image and heritage. This has been supported with a refreshed visual identity, new product categories and new technical fabrics.
The existing store portfolio is also being refurbished in line with this new design while new opportunities have been identified in strategic, brand-related locations (only last month that opened a new store at Victoria Leeds). The wholesale customer portfolio is also being constantly monitored.
And of course, we can’t ignore the fact that, in August this year it was announced that the Belstaff brand was being acquired by dynamic, sports-focused growth business Castore from existing owner Ineos (which also took a stake in Castore).
So there’s clearly plenty of potential for the brand to expand in the year (and years) ahead.
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Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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