It’s official now: China’s clothing retailer Trinity Limited will no longer be selling clothes only. Yeah, that’s right. The Chinese biggie plans to buy the Cerruti luxury and perfume brand for a cool 70 million dollars. The move is said to be a natural progression in a brand-building strategy.
For the not in the know,
Cerruti has been owned since 2006 by MatlinPatterson, a firm that specializes in turning around loss-making companies. At the same time, Hong Kong-listed Trinity Limited manages six high-to-luxury end international menswear brands, including Cerruti 1881, but mostly under long-term licenses. It is a division of the Li & Fung Group, which generated 16 billion dollars in revenue last year.
What’s most interesting about the joint venture is the shopping experience that it would offer. Think menswear with a heritage. A Class Act, surely.