Ok, I know it’s the womenswear season and all eyes are on hemlines in New York (and soon London), but something is happening in menswear to which no one seems to be paying much attention, but that strikes me as worth a stop and think: various Chinese groups are snapping up classic western tailoring brands like they are M&Ms. And the ownership change is reaching critical mass. Read more
As if the Jubilee and the Olympics weren’t enough, this June London fashion will inaugurate its first ever dedicated men’s wear – well, not week. Three days! You have to start somewhere.The announcement marks an interesting evolution in British fashion thinking. But here’s the thing: it doesn’t go far enough.
Today the Hong Kong-based Fung family further enlarged their empire of Western luxury brands when Trinity Limited, the Hong Kong-based, publically-listed subsidiary of Li & Fung Group (whose two main shareholders are Victor and tk Fung) announced it had agreed to purchase British tailor extraordinaire Gieves & Hawkes from Wing Tai Properties Limited.
The deal was priced at £32.5 million “plus annual payments for 18 years up to a cumulative maximum of £60 million” accoding to the announcement.
In an example of truly portentous timing, just as the Chinese become potential players in the rescue of the Eurozone, Walpole, the British consortium of luxury brands (supported in part by this newspaper) announces they are awarding their 2011 medal of excellence, which is to say, their highest accolade, to…Dr Christopher Cheng, the Hong Kong-based property mogul and owner of Gieves & Hawkes.