Hamburg-based fashion company Tom Tailor has announced that Chinese investment group Fosun International will from now on be the major shareholder of the business. The new investor, together with the management of Tom Tailor Holding AG, acquired a stake of 23.16% from the former major shareholder Versorgungs- und Förderungsstiftung, Vaduz/Liechtenstein.

Fonsun International Limited’s investment strategy aims to combine China’s growth momentum with global resources. The company has already invested in different European brands such as the Greek group Folli Follie, US female apparel label St.John and Italian menswear manufacturer Caruso. Wang Qunbin, president of the investment group, in regard of the acquisition: “Fonsun will leverage its own resources and competitive advantages to support Tom Tailor bringing its brand to more Chinese consumers as well as expanding in the Chinese market.”

After this operation, the free float of Tom Tailor Holding AG remains 76.84%.