Chinese Company Buys Cerruti 1881 and Kent & Curwen

  • 📰 wwd
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The Chinese firm said it paid the equivalent of $62.18 million for the global trademark rights of Cerruti 1881, and $41.45 million for the global trademark of Kent & Curwen.

, Cerruti 1881 fell victim to cuts as the Chinese owners struggled to fund its European brands. Cerruti 1881 has stopped showing on the runway and has been operating without a creative director since it parted ways with chief creative officer Jason Basmajian in July 2019., and put the focus on sporty separates rather than tailoring. Beckham eventually exited the partnership in 2020 after it reported losses of 18 million pounds under Shandong Ruyi management.

Kent & Curwen ceased trading the following year after its London head office shut and retail teams were let go. Since the end of 2021, and with its debt in the billions, Ruyi has been looking to offload some of its prized assets.. It became known globally for being the garment supplier for the Chinese national golf team during the Tokyo 2020 Summer Olympics.

The company logged 573 million renminbi, or $83.3 million, in net profit in the first three quarters of 2022, up by 25 percent year over year. Its revenue in the period increased by 13 percent to 2.2 billion renminbi, or $319.7 million. According to the brand’s website, the company has a strong distribution channel across shopping malls and airports within

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 24. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In business and government, the Editorial Board writes, Utah is vulnerable to Chinese influenceEditorial Board: “It is ironic that Utah state officials who are leading these efforts, especially Cox, practically live on social media, especially Twitter.” Says the sltrib in a tweet This yellow peril propaganda is absolutely insane. There is nothing wrong with sending a letter of encouragement to Chinese people. One can only hope that the Salt Lake Tribune editorial board’s attempts to incite hatred fall flat. None of which target children. So your point?
Source: sltrib - 🏆 316. / 61 Read more »