RADCLIFFE-based James Halstead PLC knows what their good corporate name is worth -- about £10 million!
For that's the value of its well-known Belstaff International Ltd brand and several others which have been sold for that amount.
Until 1990, before Belstaff closed down, this subsidiary manufactured clothing in the UK. Since then, it has operated under several licence agreements in respect of intellectual property.
Licensing arrangements have been in place for wax cotton jackets, golfwear and general leisurewear in the UK and in Europe.
One of these licensees, based in Italy, has acquired these brands and subsidiaries.
Currently, the Phoenix Distribution (NW) subsidiary of Halstead's markets some of its motorcycle clothing under one of the brands and the disposal will not immediately affect this arrangement.
The Italian company will be more active in the design and sourcing of motorcycle wear and Phoenix is well placed to continue distribution of all motorcycle clothing.
After costs, the sale price of the brands disposed of is in the region of £10 million.
In the year to June 30, 2003, the group accounts included £852,000 received in respect of royalties.
The royalty stream derived from these activities by Halstead's will cease as a result of this disposal.
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