One of Savile Row’s oldest tailors hunting for buyer to save it from collapse after 251 years in business
One of Savile Row’s oldest tailors is hunting for a buyer to save it from collapse after 251 years in business.
Gieves & Hawkes, which dates back to 1771 and has dressed Lord Nelson and Winston Churchill, has been put up for sale by administrators.
The tailor made the Queen’s boat cloak in 1953 and has dressed the Prince of Wales, George VI, and Princes William and Harry.
Dapper: Gieves & Hawkes, which dates back to 1771, has dressed Lord Nelson and Winston Churchill
The brand, and sister company Kent & Curwen, are owned by Trinity Group, a subsidiary of Shandong Ruyi Technology Group, which styles itself as the Chinese LVMH, the luxury conglomerate behind Louis Vuitton.
Trinity went bust last year and FTI Consulting in Hong Kong has been selling its assets. FTI has started asking for bids for Gieves, which has 58 stores, this week.
Shore Capital retail analyst Clive Black said the rise of work from home and trends for more casual wear threaten the appeal of tailors.
A sale could be a ‘consolidation opportunity’ if a rival brand snapped it up but he added: ‘If it didn’t exist, would you invent it in this market?’