Retail in Asia

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China’s Fosun Group invests in German retailer Tom Tailor

A consortium led by China’s Fosun Group is investing in German retailer Tom Tailor Holding AG, bringing another Western brand under the private conglomerate’s wing for expansion back at home.

Fosun, Tom Tailor’s management and other investors are buying a 23.16 percent stake in the retailer, according to a Tom Tailor news release on Wednesday. The financial value of the sale wasn’t disclosed.

The firm plans to bring Tom Tailor to more Chinese consumers, said Fosun President Wang Qunbin in the release.