It’s been a challenging couple of years for the luxury brand sector as it continues to adapt to erratic consumer behaviour, the blurring of channels to market, increasing international travel and the millennial luxury customer. For a handful of renowned labels, teaming up with Asian investors poses as the best strategy in ensuring continued brand development while achieving a more global and exclusive footprint. The Peak takes a look at some of the most significant acquisitions in recent years that have raised a number of well-defined eyebrows in the world of luxury retail.
03 CERRUTI
Famous for its exquisite men’s suits and 1881 perfume, the origins of this Italian fashion label can be traced to 1881 when the three Cerruti brothers decided to establish a spinning and weaving factory in the quaint town of Biella, Italy. During the 1950s, Nino Cerruti, who was the grandson of one of the founders, inherited the family business following his father’s untimely death. Blessed with a keen sense of style and entrepreneurship, Nino decided to branch out to the world of haute couture by establishing the Cerruti fashion house in 1967. Today, the world renowned Italian maison boasts an impressive range of products that include luxury readyto- wear, jeans, sportswear, leather goods, fragrances, accessories and even watches. In 2010, Cerruti was acquired by Chinese clothing retailer Trinity for an astounding EUR53 million. Based in Hong Kong, the menswear subsidiary of the Hong Kong giant Li & Fung is one of the largest menswear retail networks in Greater China and also manages Kent & Curwen, Gieves & Hawkes and D’URBAN.
