With most of the growth in the fashion and luxury sectors for the next decade posed to come from China, Asian firms are snapping up Western heritage brands for the Chinese market and in some cases, become global luxury players.
Many of these brands are trophy assets that are in need of revival. Since they already have some degree of history and prestige, acquisition is a quick way for Asian firms to tap the Chinese luxury market without having to build a brand from nothing. Also, as an added bonus for some investors who take global control of the brand – instant access to the global luxury market where these brands still retain some recognition.
Most recently, Hong Kong-based YGM Trading acquired British brand Aquascutum.
(Source: red luxury)