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Cassia Investments in partnership with Italian entrepreneur acquire Shanghai Tang

2017-07-03 13:45
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HONG KONG, July 3, 2017 /PRNewswire/ -- Cassia Investments, the Consumer-focused Private Equity fund, in partnership with Italian fashion entrepreneur, Alessandro Bastagli, have acquired Shanghai Tang from Swiss luxury group Richemont (Compagnie Financiere Richemont).

Established in 1994 in Hong Kong, Shanghai Tang was the first contemporary luxury brand from China. Its modern and sophisticated range of men's and women's clothing, accessories, and home decorations fuses iconic elements of Chinese culture with chic sophisticated fashion.

The new shareholders have stated: "Shanghai Tang is a truly unique brand. We are excited to work closely with the new management and creative teams to continue building on Shanghai Tang's heritage as the leading luxury Chinese brand with global recognition."

In addition, they expressed their commitment to investing in the continued growth of the brand particularly through expansion into new markets in Asia, Europe, Middle East and North America.

Shanghai Tang

Shanghai Tang prides itself as the pioneering luxury brand from China, with mission to be the global curator of modern Chinese Chic. The brand started as a bespoke tailoring atelier in 1994, drawing the legendary craftsmanship of traditional Chinese tailoring and rich fabrics to craft impeccably cut clothing.

Since then, Shanghai Tang has become renowned for its distinctive take on China's cultural heritage, reinterpreting the beauty and richness of the past as well as the opulence of Shanghai in novel lines of colorful clothing. Richemont acquired full control of the brand in 2008.

Today, the brand has 32 boutiques most of which are in Asia.

Source: Cassia Investments Limited

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