Savile Row tailor Gieves & Hawkes has signed a significant licensing agreement with Trinity, a Hong Kong-based distributor. Trinity Ltd, a leading global menswear distribution company, acquired the British heritage brand for £32.5m, in a deal that is to be finalised by the end of April.
Wing Tai Properties, which has owned Gieves & Hawkes since 2002, will receive annual payments up to £60m over 18 years, if the brand's sales grow.
Trinity operates over 500 outlets across south-east Asia, and also owns luxury British men’s clothing brand, Kent and Curwen, which it bought in 2008, as well as Cerruti 1881, which it bought in 2010.
Gieves & Hawkes UK operations are also part of the deal, and will see its 14 retailers, design studio and manufacturing facilities fall under Trinity's management.
“We are delighted that we will be adding Gieves & Hawkes to our stable of high-end/luxury menswear brands,” said Trinity group managing director Mr Wong Yat. “Gieves & Hawkes is renowned for its strong heritage in fine tailoring, and its dedication to quality, and these characteristics give the brand immense appeal for discerning clients around the world.”
Gieves & Hawkes holds three Royal Warrants as suppliers to the Queen, the Duke of Edinburgh and the Prince of Wales.
Image: Gieves & Hawkes