- Angela Gonzalez-Rodriguez |
Chinese group Fosun International Limited has announced an increase in its stake in German lifestyle clothing company Tom Tailor Holding AG. Fosun sees the additional investment as a way to strengthen its position as a long-term strategic anchor investor in the company.
The Chinese group therefore owns now a stake estimated to be between 25 and 30 percent in the company’s equity, although the amount paid for that increase remains undisclosed.
"(Tom Tailor)…is not only…an established player in the textile market, but is also continuing to grow sustainably," says Wang Qunbin, president of Fosun.
It’s worth recalling that back in 2014, Fosun International teamed up with Tom Tailor's management to buy a 23.16 percent of the Frankfurt-listed company for circa 87.5 million euros.
To date, Fosun has invested in a number of well-known international brands in the consumer goods sector, including the Greek retail group Folli Follie, the U.S. upscale female apparel brand St. John, and the Italian premium menswear manufacturer Caruso, highlights Reuters.