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Tag: Tom Tailor

  • Fosun finally completes acquiring fashion label Tom Tailor

    Fosun finally completes acquiring fashion label Tom Tailor

    Fosun International Limited (Stock Code: 00656.HK) today announces to acquire 100 percent of the shares in Tom Tailor GmbH, together with its subsidiary companies. This enables the fashion brand, with around 3,400 employees, to achieve long-term business development and sustainable growth through Fosun’s strategic empowerment and ecosystem.

    Fosun has always believed in the brand value of Tom Tailor since the beginning and has purchased the minority of brand shares of its listing company TOM TAILOR Holding SE as early as 2014. After years of investment and funding, Fosun finally acquired its controlling stake in 2019.

    “Since first becoming a shareholder in 2014, Fosun has been deeply committed to Tom Tailor – and has always believed in the brand and continued to invest in it, even in particularly challenging times for the entire Tom Tailor Group,” said Gernot Lenz, CEO of Tom Tailor GmbH. “The knowledge and experience we have gained together over the years make Fosun the ideal partner to take Tom Tailor GmbH to the next level once again, both during and after the coronavirus outbreak.”

    From now on, Tom Tailor GmbH is hoping for a stronger come back in the fashion market, being able to stay ahead in the competition with Fosun’s steady empowerment. Fosun Fashion Group (FFG), as an important industry sector within the Fosun ecosystem, is continually providing support through investments and aligning with management to ensure that capital and strategy are in place. Thanks to the continued financial support from Fosun, as well as new strategic measures with a clear focus, Tom Tailor GmbH is confident about its future in the industry, at the same time capable of contributing to the fashion ecosystem of Fosun.

    “Fosun is committed to making long-term strategic investments in companies that offer high-quality products and services to families around the world,” explained Xu Xiaoliang, Co-CEO of Fosun International. “As one of the largest fast-fashion brands in Germany, Tom Tailor GmbH has developed a firm market base and an extremely high level of brand recognition among consumers, as well as a fully developed supply chain and logistics system in German-speaking countries. We remain confident about this. We would like Tom Tailor GmbH to become an even more resilient and more fruitful partner for us.”

    Tom Tailor GmbH aims to overcome its current and future challenges and will be able to build on the growth recorded in 2019. With financing secured for all areas of the Tom Tailor GmbH business until September 2024, the company can implement the numerous operational and strategic measures as planned. These measures will primarily address the following five aspects:

    • Improve products: Tom Tailor GmbH will invest in effectively improving the quality and appeal of its products.
    • Increase customer loyalty: Tom Tailor GmbH will introduce a variety of individual initiatives to significantly improve and maintain the loyalty of its customers in the long term.
    • Continue with targeted internationalization: Tom Tailor GmbH aims to continue its successful growth trajectory in several countries outside of its existing core markets, particularly in South-Eastern Europe.
    • Strengthen online business: Tom Tailor GmbH will selectively expand its digital sales channels and online presence for a significant growth online revenue.
    • Improve efficiency: Tom Tailor GmbH will cope with the effects of the COVID-19 pandemic by implementing a bold program to streamline processes along the company’s entire value chain.

    Despite all the challenges, Tom Tailor GmbH’s clear ownership structure and financing arrangements make it one of the few players in the fashion industry, resting on a very concrete foundation for further development. This stability does not only ensure a solid ground for upcoming improvements. It is also going to provide all of the company’s stakeholders – particularly its trading partners, suppliers, financing partners and, of course, its employees – with the reliability required to successfully develop the business going forward.

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  • China’s Fosun makes bid for Tom Tailor

    China’s Fosun makes bid for Tom Tailor

    Hong Kong-listed Chinese trading group Fosun has launched a Tom Tailor takeover bid. Fosun has long held a cornerstone stake in the German-listed fashion retailer, which has several thousand stores, franchises and shops-in-shops around the world, trading under its own name selling men’s and women’s fashion and under the womenswear label Bonita. Its core markets are Germany, Austria, Switzerland, Southeastern Europe and Russia.

    Fosun said in a stock exchange filing that the Tom Tailor takeover bid follows an increase in its shareholding which will take its stake above the 35 per cent level which triggers a mandatory takeover offer under German law.

    In a statement, Fosun said it would benefit from the target company’s long-term growth potential.

    “The company considers the transaction to be an attractive investment in its sector as it sees economic potential in Tom Tailor.”

    Founded in Hamburg in 1962, Tom Tailor has encountered challenges in recent years. Its share price has plunged 80 per cent since January last year.

    The company focuses on mid-priced casual wear for men, women and children, accessories, and home textiles.

    Fosun has been expanding its interests in Europe in recent times, acquiring Lanvin last year, along with Austrian luxury lingerie brand Wolford. It also has a stake in menswear label Caruso.

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  • Fosun International acquiring French brand IRO

    Fosun International acquiring French brand IRO

    Chinese fashion retailer Fosun International will reportedly acquire French apparel brand IRO.

    IRO’s founders, brothers Laurent and Arik Bitton, will retain a 40 per cent stake, while Fosun will acquire the 25 per cent shareholding of the Marciano family, founder of the Guess Group, along with the remaining shares, making it the major shareholder.

    The deal, worth about €130 million (US$143.533 million), has been confirmed by a Fosun spokesperson quoted in the Chinese media.

    IRO was founded in Paris in 2004, with a men’s clothing series being added in 2011. Its followers include supermodels and fashion bloggers like Kate Moss, Rosie Huntington, Gigi Hadid and Aimee Song.

    With annual sales of about €60 million, IRO has stores in Paris, New York, London and Rome – all up, seven outlets in France and 25 internationally, including four in the US. It also has more than 40 counters in high-end department stores.

    Fosun has diverse interests covering fashion and retailing, and also owns the French resort group Club Med. The company has invested in many overseas consumer brands, including Greek fashion brand group Folli Follie, American high-end women’s clothing brand St John, Italian high-end custom men’s clothing Caruso, and fashion lifestyle brand Tom Tailor.

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  • Tom Tailor China opens online

    Tom Tailor China opens online

    German fashion retailer Tom Tailor has opened an online store in China, using JD.com’s JD Worldwideplatform.

    Tom Tailor describes its first online shop in China as “another important milestone in Tom Tailor China’s expansion, following the opening of the first Tom Tailor retail store in Shanghai last November.

    The Tom Tailor online shop features products from across the Tom Tailor, Tom Tailor Denim andTom Tailor Contemporary ranges.

    “In order to expand our online presence with the umbrella brand Tom Tailor in China, JD.com, as China’s largest e-tailer, is an excellent partner,” said Erika Kirsten, Tom Tailor’s manager of corporate communications.

    “JD.com has a high-value user base. With 155 million active consumers across the country who appreciate its versatile product range and superior customer service, JD.com provides the optimal platform for launching Tom Tailor in the Chinese online market.”

    Josh Gartner, JD.com’s senior director of international communications, said apparel is one of the fastest growing categories on the JD.com platform, “because customers know that only JD.com can provide reliable and convenient access to the latest fashions from local and international brands with a 100 per cent guarantee of product quality and authenticity”.

    Tom Tailor China currently has one standalone physical retail store in China and 14 shops-in-shops.

    Tom Tailor targets people aged up to 40, with a focus on high-quality fabrics. Bonita, one of Germany’s leading fashion brand producers and retailers, has been a part of the Tom Tailor Group since August 2012. Bonita sells menswear and womenswear collections for the over 40 age group.

  • Tom Tailor Launches Its First Online-Shop in China on JD.com

    Tom Tailor Launches Its First Online-Shop in China on JD.com

    Tom Tailor has launched its first online shop in China on the e-commerce platform JD.com, China’s largest online direct sales company. The launch marks another important milestone inTom Tailor’s expansion in China, following the opening of the firstTom Tailor retail store in Shanghai in November 2015.

    TheTom Tailor online shop on JD Worldwide features products from across theTom Tailor Denim and Tom Tailor CONTEMPORARY ranges. Building on JD.com’s brand marketing, payment, logistics and after-sales support,Tom Tailor will ensure that the brand’s customers across China enjoy a world-class online shopping experience.”In order to expand our online presence with the umbrella brandTom Tailor in China, JD.com, as China’s largest e-tailer, is an excellent partner,” said Erika Kirsten,Tom Tailor’s Manager of Corporate Communications.

    “JD.com has a high-value user base. With 155 million active consumers across the country who appreciate its versatile product range and superior customer service, JD.com provides the optimal platform for launchingTom Tailor in the Chinese online market.”“We’re delighted to welcomeTom Tailor to JD.com, and look forward to supporting their growth in China,” said Josh Gartner, JD.com’s Senior Director of International Communications. “Apparel is one of the fastest growing categories on our platform because customers know that only JD.com can provide reliable and convenient access to the latest fashions from local and international brands with a 100% guarantee of product quality and authenticity.

    We are excited to expand our portfolio of brands to includeTom Tailor’s stylish designs and we’re confident that customers will respond very positively.”Tom Tailor is represented in China currently with a retail store and 14 shop-in-shops.

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