Home / Knowledge / News / Fashion / Richemont completes sale of Shanghai Tang
Richemont completes sale of Shanghai Tang
07
Jul '17
Richemont, the Swiss luxury goods group, announces that it has completed the sale of its wholly-owned subsidiary, Shanghai Tang, on 30 June 2017 to an entity controlled by Alessandro Bastagli, an Italian entrepreneur. The transaction will have no material impact on Richemont’s balance sheet, cash flow or results for the year ending 31 March 2018.

Established in 1994 in Hong Kong by David Tang, Shanghai Tang was the first contemporary luxury brand from China. Its modern and sophisticated range of men’s and women’s clothing, accessories and home decorations combine the style and heritage of the orient with western design influences. Richemont took a controlling stake in 1998 and acquired 100 per cent ownership in 2008.

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. In addition, Richemont holds a 49 per cent equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search