×
1 329
Fashion Jobs
ESTÉE LAUDER
Operations Support Manager
Permanent · Petersfield
ESTÉE LAUDER
jo Malone London - Omnichannel Operations Manager
Permanent · London
ESTÉE LAUDER
Multi-Brand - Business Manager, 37.5 Hours - Oxford - John Lewis
Permanent · Oxford
V. F. CORPORATION
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Bath - 28 Hours - Permanent
Permanent · Bath
CONVERSE
Strategic Account Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
ESTÉE LAUDER
Tom Ford Beauty - Digital Marketing Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 6 Hours - Permanent
Permanent · Edinburgh
By
Reuters
Published
Jul 3, 2017
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Richemont sells Shanghai Tang to Italian entrepreneur Bastagli

By
Reuters
Published
Jul 3, 2017

Swiss luxury company Richemont has sold Chinese fashion brand Shanghai Tang to a consortium of investors led by Italian businessman Alessandro Bastagli, the groups said on Monday.


Photo: Shanghai Tang - Shanghai Tang




Founded in 1994 by Hong Kong businessman David Tang as a high-end tailor, Shanghai Tang has 32 boutiques worldwide, selling Asian-inspired clothes for men and women as well as accessories and homeware.

Bastagli, in a statement, said he was working to "relaunch and consolidate Shanghai Tang ... focussing on international expansion," and plans to set up a creative and managerial team to do so.

He said he had acquired a controlling stake in Shanghai Tang with Hong-Kong based private equity firm Cassia Investments and a British investment fund, whose name was not disclosed.

He did not give details of the size of the stake or the purchase price.

Richemont, which makes watches under brands including Cartier, IWC and Piaget, and has been grappling with dwindling demand in its major markets, took a controlling stake in Shanghai Tang in 1998 and acquired full ownership 10 years later.

"The transaction will have no material impact on Richemont's balance sheet, cash flow or results for the year ending 31 March 2018," Richemont, which in May reported a 46 percent drop in annual net profit, said in a statement.

It said the deal was completed on June 30.

Florence-based Bastagli owns textile company Lineapiu Italia as well as three fashion brands, mostly focussed on sportswear.

© Thomson Reuters 2021 All rights reserved.