Fosun to boost stake in Tom Tailor
Asian investment group Fosun International plans to boost its stake in the German lifestyle brand Tom Tailor to between 25 and 30 per cent.
In an arrangement with a private seller, HOng Kong-listed Fosun will buy extra shares in the company subject to regulatory approvals, including antitrust clearance. The shareholding will be held directly and indirectly through subsidiaries, and Fosun sees the purchase as a way to strengthen its position as a long-term strategic anchor investor in the company.
“We see the Tom Tailor Group as being on the right path,” says Fosun president Wang Qunbin. “It is not only as an established player in the textile market, but is also continuing to grow sustainably. The company has a proven business model and a clear brand alignment.
“With the recently announced focus on its core business, management has taken the right measures.”
This investment continues Fosun’s investment model of “combining China’s growth momentum with global resources”. As an investment group with a global foothold taking roots in China, Fosun and funds under its management are involved in the consumer goods sector, including Greek retail group Folli Follie, US female apparel brand St. John and Italian menswear manufacturer Caruso.
Last week Fosun took a strategic stake in Koradior.