Trinity Limited, one of the leading high‐end to luxury menswear companies in Greater China, on Thursday completed the acquisition of the Gieves & Hawkes brand ‐the Iconic Savile Row Tailor ‐and its business from Hong Kong‐listed Wing Tai Properties Limited. In line with the announcement published on 11 April 2012, Trinity has paid an initial GBP32.5 million and will make additional annual payments for 18 years of up to a cumulative maximum of GBP60 million, subject to the future growth of Gieves & Hawkes’ business in Greater China.
Announcing the completion of the acquisition, Wong Yat Ming, Group Managing Director of Trinity, said: "We look forward to building on our success in recent years in China with the Gieves & Hawkes brand and to expanding the business elsewhere in Asia and in the UK and other markets. We expect Gieves & Hawkes to enjoy a bright future within Trinity."
Trinity is also pleased to announce that Gieves & Hawkes’ current Deputy Chairman, Mark Henderson, remains as Deputy Chairman of the Gieves & Hawkes business in the UK. Henderson is a former Chief Executive of Gieves & Hawkes and is also chairman of the Savile Row Bespoke Association, which represents most of the leading businesses in the UK’s bespoke tailoring industry.
(Source: Trinity Limited)