Gieves & Hawkes directors leave following takeover by Trinity
Nigel Ling, retail director, Barry Tulip, designer, and Carlos Singh, head of marketing, have all departed from the business which is being bought by the Chinese Trinity Group for up to £92.5 million.
The news follows the departure of Gieves & Hawkes chief executive John Durnin last month.
Trinity, a subsidiary of consumer brand supplier Li & Fung, has been operating the Gieves & Hawkes portfolio of stores in China since the 1980s. It has paid an initial £32.5 million for the business, with additional payments up to a maximum of £60 million due annually over the next 18 years. The future payments are based on the brand's ongoing performance in Greater China.
Established in London in 1771, Gieves & Hawkes has been granted the use of three Royal Warrants of Appointment to HM The Queen, HRH The Duke of Edinburgh and HRH The Prince of Wales.
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