HONG KONG: Li & Fung chairman buys men’s wear retail group
LF Asia Investments, a private investment firm controlled by the chairman of the Li & Fung apparel group, has bought several privately held men's wear retailers with operations in Hong Kong, Macau, Taiwan and the mainland.
Included in the deal - the price of which has not been disclosed - are Trinity Textiles, D'Urban Distribution (HK), and Jadestar Investments, as well as several other men's wear retailers owned by CEGO Limited.
The companies operate more than 340 retail outlets under the Cerruti, Gieves & Hawkes, Kent & Curwen and D'Urban brands.
A new unit called LiFung Trinity has been set up to run the new companies. The new unit will be headed by LF Asia Investments managing director Sunny Wong.
In a statement, LF Asia Investments said the acquisitions fit with its strategy to strengthen its presence in the Asian apparel retail market.
This latest deal comes just days after Li & Fung said it was buying US-based Oxford Industries' women's apparel group for US$37m.
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