Cassia Investments in partnership with Italian entrepreneur acquire Shanghai Tang
Monday, July 03, 2017
(Press Release) – 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.
