This is a KDF (Kraft durch Freude) armband with flags on the seperate links. These flags were sold in te second half of the 1930’s as a commemorative item on board of the KDF ships like the Wilhelm Gustloff (the flags should spell the name of the ships, but then by means of the order of the flags).
The armband is one of the better ones we’ve seen, it even has a special safety locked chain (marked GARANTIE) on the lock), for preventing loss.
In very good condition and not so easy to find! Especially the seperate link with the KDF logo is hardly ever present on the armbands, just a great variation!
Not so easy to find!