×
260
Fashion Jobs
LIFESTYLE BRANDS
Senior Executive - Accounts - Bangalore
Permanent · BENGALURU
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer & Soit : Reliance Retail - Ajio Business
Permanent · HYDERABAD
ADLIB MANAGEMENT SERVICES PVT LTD
Opening Retail Sales Officer in Large Format Apparel Store Hyderabad
Permanent · HYDERABAD
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer & Soit : Reliance Retail - Ajio Business
Permanent · TIRUPATI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer & Soit : Reliance Retail - Ajio Business
Permanent · TIRUPATI
SIYARAM SILK MILLS LTD
Area Sales Officer/Executive - (Fabric)
Permanent · Chennai
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · ADILABAD
JOB SEARCH
Sales & Marketing Executive From Product Vertical : Garment Packaging
Permanent · Bengaluru
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer-Reliance Retail- Ajio Business- Tamil Nadu
Permanent · TIRUCHIRAPPALLI
GLAN MANAGEMENT CONSULTANCY
General Merchandising Manager- Garment Export
Permanent · NEW DELHI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · Rajahmundry
RELIANCE INDUSTRIES LTD
Sales Officer - Saree Specialist - Chennai t.Nagar
Permanent · CHENNAI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · HYDERABAD
SPACE CONSULTANTS
Manager-Sales&Marketing
Permanent · Bhiwani
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · PANCHKULA
GENIUS CONSULTANTS LIMITED
HR Executive(Female)@Leading Hosiery Manufacturing Company in Agarpara
Permanent · KOLKATA
SHOPPERS STOP LTD
Unit HR Head
Permanent · MUMBAI
FLOOR & FURNISHINGS INDIA PRIVATE LIMITED
Sales Executive/ Sales Officer
Permanent · PANCHKULA
SELECTIVE GLOBAL SEARCH PVT. LTD.
Retail Sales Executive
Permanent · MUMBAI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · HALDWANI
RELIANCE INDUSTRIES LTD
Hiring For Sales Officer : Reliance Retail - Ajio Business
Permanent · Aligarh
SREEDHARA TEXTILES PRIVATE LIMITED
Deputy Manager - Fabric
Permanent · COIMBATORE

Richemont sells Shanghai Tang to Italian entrepreneur Bastagli

By
Reuters
Published
today Jul 3, 2017
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2020 All rights reserved.