Dec 23, 2010
China's Trinity Limited buys Cerruti
Dec 23, 2010
Cerruti’s historic Parisian boutique, situated at the corner of rue Royale and the place de la Madeleine, has reopened after a year of renovation work
Trinity Limited said its purchase of Cerruti Holdings "fits in with the Group’s strategy to own intellectual property rights or take on very long term licenses in high-end to luxury menswear brands with heritage."
Cerruti has been owned since 2006 by Matlin Patterson, a firm which specialises in turning around loss-making companies.
Hong Kong-listed Trinity Limited manages six high-to-luxury end international menswear brands, including Cerruti 1881, but mostly under long-term licenses.
It is a division of the Li & Fung Group, which generated 16 billion dollars in revenue last year.
Trinity Limited said in a statement that planned to exploit its operating and 381 store network in China to help turn around Cerruti.
It added that Cerruti's flagship Paris store would remain a critical element of building the brand's image.
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