HONG KONG: Five directors exit Gieves & Hawkes
Gieves & Hawkes has today (25 May) confirmed that five of its directors have left the company, a month after upmarket tailor was acquired by Hong Kong based Trinity Ltd.
A spokesperson for the company told just-style the directors who have departed are Andrew Merriman, Tom Scruby, Ka Lee, Christopher Langley and Christopher Cheng Wai-Chee.
A spokesperson for the company said Lee, Langley and Wai-Chee were representatives on the board of the previous owners of Gieves & Hawkes - Wing Tai Properties. Scruby was due to retire, while Merriman's "expertise overlapped" with Trinity, since the Gieves & Hawkes was acquired. "This was a mutual agreement," the spokesperson added.
Last month, Gieves & Hawkes was acquired by Hong Kong based Trinity Ltd, part of global sourcing giant Li & Fung, for GBP92.5m (US$147.6m). The deal involved an initial payment of GBP32.5m, and then up to a further GBP60m in annual earn-out payments depending on its performance in the next 18 years.
Global sourcing giant Li & Fung has remained coy on speculation it is in talks to acquire South Korean children's apparel manufacturer Suhyang Networks....
A group of buyers representing some 20 global brands and retailers is this week visiting Bangladesh as part of a wider regional tour to explore sourcing alternatives to China....
Fashion retailer Esprit and its sourcing agent Li & Fung have been targeted by protesters in Hong Kong, Turkey and Thailand in a series of demonstrations accusing them of failing to pay wages and seve...
Global sourcing giant Li & Fung is to issue US dollar bonds to raise funds for "strategic acquisitions and business development", the company said....
Top stories on just-style this week include reports Li & Fung is in advanced talks to buy Synergies Worldwide, a look at the latest list of goods produced in countries that are suspected of using chil...
Sourcing giant Li & Fung has appointed former Citigroup investment banker Ed Lam as its chief financial officer to develop the group's growth and acquisition strategy....
Apparel and consumer goods supplier Li & Fung is in advanced talks to acquire apparel sourcing agent Synergies Worldwide, according to reports....
- SOURCING: Production problems weigh on Pakistan
- Cutting-edge companies focus on consumer needs
- Speed to market key to Adidas 2020 growth plan
- Rana Plaza fund call grows as anniversary nears
- SuperGroup to adapt sourcing model for speed
- Major Ethiopia textile build experiences delays
- RFID adoption among retailers near “tipping point”
- Swedish textile water project to expand globally
- PVH “pleased” after swinging to Q4 profit
- Organic cotton assessment tool launches
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019