Britain’s Frasers Group buys Gieves and Hawkes in further dismantling of Chinese fashion tycoon Qiu Yafu’s empire

Britain’s Frasers Group buys Gieves and Hawkes in further dismantling of Chinese fashion tycoon Qiu Yafu’s empire

13 days ago

Britain’s Frasers Group has bought Gieves and Hawkes, the 250-year-old Saville Row tailor acquired in an ill-fated spending spree five years ago by Chinese fashion tycoon Qiu Yafu as part of a failed push to build China’s version of luxury fashion house LVMH.

Gieves and Hawkes was put up for sale in July after Hong Kong-listed Trinity Group went into liquidation in 2021.

Qiu’s Shandong Ruyi Technology Group acquired Trinity in 2017 from Victor Fung Kwok-king, the chairman of the Li & Fung Group.

“We are pleased to conclude the sale of Gieves & Hawkes to Frasers Group, and in doing so secure the long-term future for this iconic brand,” said Vincent Fok, Asia head of corporate finance and restructuring at FTI Consulting, which is acting as liquidator for Trinity.

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