243
Fashion Jobs
L'OREAL GROUP
Head of Advocacy & Influence - l’Oréal Dermatological Beauty - Copenhagen
Permanent · COPENHAGEN
ESTÉE LAUDER COMPANIES
District Manager (Funen/Jutland)
Permanent · AARHUS
ESTÉE LAUDER COMPANIES
Handelselev Med Speciale i Digital Handel - E-Commerce
Permanent · COPENHAGEN
ZIZZI
Online Buyer Til Fashion
Permanent · BILLUND
SAMSOE
Logistik Koordinator
Permanent · GLOSTRUP
ONLY
Business Controller
Permanent · BRANDE
ONLY
International Sales Manager
Permanent · BRANDE
JACK & JONES
Konstruktører, Jack & Jones og Jjxx
Permanent · BRANDE
BEST SELLER
Environmental Programme Coordinator
Permanent · KØBENHAVN K
BEST SELLER
Product Owner - Data-Driven Solutions & ai
Permanent · AARHUS
SELECTED FEMME/HOMME
Sales Representative
Permanent · BRANDE
L'OREAL GROUP
Key Account Relationship Specialist
Permanent · COPENHAGEN
SAMSOE
Business Controller (Sql And Data Analytics Specialist)
Permanent · COPENHAGEN
ACE & TATE
Optometrist Copenhagen i NY Østergade
Permanent · COPENHAGEN
VERO MODA
Business Controller
Permanent · AARHUS
VERO MODA
Buyer | Curve
Permanent · AARHUS
ONLY
Demand Planner
Permanent · BRANDE
L'OREAL GROUP
Supply Chain Graduate - l’Oréal Luxe Product Division - Copenhagen
Permanent · COPENHAGEN
KERING EYEWEAR
Kering Eyewear - Lindberg Junior Trade Marketing Manager
Permanent · AARHUS
ESPRIT
Area Manager Multilabel Nordic Women
Permanent · COPENHAGEN
ZIZZI
IT Operations Manager
Permanent · BILLUND
TJX EUROPE
Buying Coordinator
Permanent · COPENHAGEN
Translated by
Nicola Mira
Published
Dec 6, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Chinese label Shanghai Tang sold to Lunar Capital group

Translated by
Nicola Mira
Published
Dec 6, 2018

Alessandro Bastagli has thrown in the towel. The Italian businessman bought upmarket Chinese fashion label Shanghai Tang less than two years ago from the Richemont luxury group, and has now sold it to Chinese investment fund Lunar Capital for an undisclosed amount.


Shanghai Tang’s Hong Kong store - shanghaitang.com


Through the family holding company Finalba, Alessandro Bastagli owns yarn manufacturer Lineapiù and A.Moda, the licensed producer and distributor of brands like Everlast, Dimensione Danza and Virtus. For the time being, Bastagli does not wish to comment on the sale of Shanghai Tang, but a source has confirmed to FashionNetwork.com the news that was reported by Italian business daily Il Sole 24 Ore.

In July 2017, Bastagli and a consortium of investors including the Hong Kong-based Cassia Investments fund and a UK investment fund bought the Chinese ready-to-wear label for an undisclosed amount. Bastagli was the Executive President of Shanghai Tang. Disagreements between Cassia Investments and Bastagli led the two to sell their majority stake in Shanghai Tang to Lunar Capital, the owner of several Chinese brands, chiefly in the childrenswear segment, as well as Italian high-end children’s line I Pinco Pallino.

With Shanghai Tang, Bastagli had embarked on an ambitious project, his intention being to transform a label that was chiefly known in Asia into an international brand produced in Italy. To do so, Bastagli developed a supply chain in Italy and invested in a lavish showroom on Milan’s prestigious via Montenapoleone, hiring Massimiliano Giornetti, formerly with Salvatore Ferragamo, as creative director. Giornetti, who worked on Shanghai Tang from his Florence studio with a team of five designers, has also left the company.


Shanghai Tang’s elaborate fashion and markedly Oriental style has failed to attract millennials



Shanghai Tang was founded in Hong Kong in 1994 by David Tang, heir to an established Shanghai family. In 1998, Swiss luxury group Richemont bought a majority stake in the label, eventually acquiring full ownership in 2008. After Bastagli’s acquisition, the plan was to transform the label into a more Western-style luxury brand targeting a younger clientèle, from outside Asia too. But Bastagli didn’t manage to make more headway than Richemont did. Shanghai Tang’s elaborate, nearly baroque fashion and markedly Oriental style has failed to attract millennials, more inclined towards luxury sportswear and genuine designer clothes.

Shanghai Tang generates a revenue of €30 million and is chiefly distributed in Asia, via 13 directly owned monobrand stores and eight franchised ones, in China, Macao, Hong Kong and Singapore.

Copyright © 2024 FashionNetwork.com All rights reserved.