William Fung, the billionaire boss of the Chinese trading empire Li & Fung, has set up a new company to own his growing clutch of Savile Row tailors.
Mr Fung, with brother Victor Fung, runs the Hong Kong supply chain empire that counts retailers Wal-Mart and Nike as customers.
The family, through various subsidiaries and separate listed companies, also control a raft British Savile Row brands including Gieves & Hawkes, Hardy Amies and Kent & Curwen.
Fung Capital, one of William Fung’s investment vehicles, has created the new holding company,Savile Row Brand Management, to look after Hardy Amies and recently purchased Savile Row tailor Kilgour. Kilgour, which has dressed celebrities including Daniel Craig, Jude Law and Hugh Grant, was sold by JMH Lifestyle.
Sources close to the group think Fung's plan is to eventually add more upmarket menswear names to the group, creating synergies to build the brands in the lucrative markets of Asia and the US via wholesale and concessions.
Bernard Weatherill, the country and equestrian tailoring house worn by the Queen, is also owned by JMH and there have been rumours that the Fung’s will also buy this brand. But a spokesman for the company said it “has no immediate plans to acquire any other businesses.”
The group owns Gieves & Hawkes through its separately listed Trinity business.
