Ellesse was founded by Leonardo "Mantis" Servadio in Perugia, Umbria, Italy in 1959. The name Ellesse derives from Servadio's initials, "L.S.".
Very popular in the '70s thanks to skiwear and tennis wear, its styling is a perfect combination of sportswear functionality with street-level fashion styling. It was one of the first sportswear brands to feature the logo mostly on the outside of their garments.
Somehow in the '80s, Ellesse became one of the brands used in the British lad culture.
And yes, the Ellesse stuff is very, very cool.