Another one bites the dust (Musto)

[SimonFa]

Musto hasn't been a family business for at least the last 10 years. The family had a minority stake, the majority stake was held by Phoenix Equity Partners. The company has been losing money for many years and has big debts. Hopefully Helly Hansen have a cunning plan.

From the CityAM link:

“Our focus will be to expand Musto internationally as an iconic British lifestyle brand with deep technical sailing credentials alongside Helly Hansen.”

Have they manufactured anything in the UK? I thought it was all from the far east?

A family selling out of a successful business is very much the pattern in the UK, in contrast te Germany where the mittelstand (?) is built on family ownership. Build up a business, sell out, buy a country house and play the local squire. To the manor born

As Dyson showed, the real value isn't in manufacturing but the high value add of engineering and design.

HH are true to their word above it could lead to a growth in high value jobs.

 

[pvb]

HH are true to their word above it could lead to a growth in high value jobs.

It could, but more likely in Norway.

 

[pmyatt]

That's frightening to see the chain of ownership and think how much money people have made by gambling on the company with money that isn't their own.

Helly Hensen is "majority owned by the Ontario Teachers’ Pension Plan, one of Canada’s largest pension funds. "

Don't they own the National Lottery as well?

 

[Deleted member 36384]

An iconic British Lifestyle brand: -

https://1pumplane.files.wordpress.com/2010/08/visit-telford.jpg

 

[Keen_Ed]

Musto and others simply do not cater for many who sail in warmer weather, which I assume covers an awful lot of the southern part of America, Oz, the Med, SE Asia and the Pacific Islands. It was mentioned on another thread, Snook's? - but just look at the ads for new yachts - no-one is ever shown wearing decent foul weather gear - yachts are built for the sun, not rain.

Musto have a range of oilskins for hot conditions -LPX. Plus SPF shirts etc.

 

[Sandy]

Lets hope they keep the quality and service of Musto, HH gear is not as good as it used to be.

 

[Neeves]

Musto have a range of oilskins for hot conditions -LPX. Plus SPF shirts etc.

Deleted, double post!

 

[Neeves]

Musto have a range of oilskins for hot conditions -LPX. Plus SPF shirts etc.

I know, I know but you do not need to pay Musto prices. Being the land that invented skin cancer we can buy SPF shirts any and everywhere - quite cheaply. And when the chips are down you need top of the range, that very few times a year - and you don't want to have to buy 2 sets of expensive kit.

Jonathan