Fosun International Limited has agreed to increase its stake in German lifestyle clothing company Tom Tailor Holding AG to more than 25%, but below 30%, for an undisclosed amount, says an announcement.
In 2014, Fosun International teamed up with Tom Tailor’s management team to buy a 23.16% of the Frankfurt-listed company for reportedly €87.5 million (HK$908 million). It wasn’t clear how much a stake Fosun International obtained from that investment.
Fosun sees the additional investment as a way to strengthen its position as a long-term strategic anchor investor in the company.
"(Tom Tailor)…is not only…an established player in the textile market, but is also continuing to grow sustainably," says Wang Qunbin, president of Fosun.
This investment continues Fosun’s investment model of "combining China’s growth momentum with global resources" to back companies around health, happiness and well-being of the Chinese consumers.
Fosun has invested in a number of well-known international brands in the consumer goods sector, including the Greek retail group Folli Follie, the U.S. upscale female apparel brand St. John, and the Italian premium menswear manufacturer Caruso.