Menswear retailer primarily serving Greater China and Europe, Trinity Limited, said profit in the six months to June declined to HK$79 million (US$10.2 million) from HK$150 million a year earlier.

It blamed mainland China’s ongoing economic slowdown and frugality drive for the decline.

Total revenue decreased by 5.9 per cent, with revenue from the Greater China market contributed 88.7 per cent of the total.

A member of the privately-held Fung Group, Trinity manages five international menswear brands Cerruti, Kent & Curwen and Gieves & Hawkes, which are self-owned, and D’Urban and Intermezzo which are operated under long-term licences in Greater China.

CEO Richard Cohen said the prevailing headwinds in mainland China were producing multiple opportunities for Trinity.

“Our priority is to make the value chain nimbler and more efficient, underpinned by product development geared to changing consumer demand,” he said.