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, stated the Telegraph.
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," he said. Snoeren added that he and Horsting had found it "frustrating" that although the brand was successful, it lacked the resources to fulfill its potential.
Starting with next year’s autumn-winter season, a dedicated team from Staff International – the prêt-à-porter manufacturer and distributing arm of Only The Brave – will manage the worldwide licensing arrangements for Viktor & Rolf’s womenswear, menswear, shoes and accessory lines.
Distribution will be expanded via use of Staff International’s showrooms in Paris, Milan, Tokyo and New York. Mr Rosso said that he wanted to develop a “new luxury group for the future”. The company further owns young luxury brands Maison Marting Margiela and Sophie Kokosolaki.
Viktor & Rolf are currently exhibiting at the Barbican in London.