Chinese conglomerate Fosun International is to acquire full ownership of fashion firm Tom Tailor GmbH along with all subsidiary companies, more than a year after first signalling its intentions.
Fosun has been a shareholder in Tom Tailor for six years, acquiring a controlling stake just last year. The move is expected to assist the brand – which has a total staff count of around 3400 employees – towards achieving long-term sustainable growth.
“Fosun is committed to making long-term strategic investments in companies that offer high-quality products and services to families around the world,” said Fosun International Co-CEO Xu Xiaoliang.
“As one of the largest fast fashion brands in Germany, Tom Tailor has developed a firm market base and an extremely high level of brand recognition among consumers, as well as a fully developed supply chain and logistics system in German-speaking countries … we would like Tom Tailor to become an even more resilient and more fruitful partner for us.”
Fosun’s acquisition will provide financial security for the entire Tom Tailor business through to September 2024, allowing the firm to invest in the quality and appeal of its product range, boost customer loyalty, continue with its targeted internationalisation programme, improve its e-commerce offering and enhance its overall efficiency.