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Tuesday, 29 October 2013

The Rise of the Fourth Conglomerate

As you may have already noticed, British heritage is big news at the moment. Everyone’s trying to get a little piece of Britain, no one however as much as Li & Fung it would seem. 
When we think of conglomerates we obviously jump straight to the likes of LVMH, however Li & Fung are causing a stir in the industry and are looking to become big news. China is constantly emerging, Li and Fung is a trading empire founded in Hong Kong. William Fung along with his brother Victor Fung are slowly but surely buying up the whole of Savile Row. 
The family already controls Gieves & Hawkes, Hardy Amies and Kent & Curwen and now they have recently purchased Savile row tailor Kilgour, who has dresses a-listers from Daniel Craig to Jude Law. Fung Capital, a venture capital arm of Li & Fung, is said to acquire a third brand from Savile Row within the next six months to form part of its new portfolio called Savile Row Brands. It seems the Far East are really looking in to investing in British Heritage and I feel this may just be the beginning of an Asian take over.

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