Trinity, owner of Gieves Hawkes and Cerruti, posts 10 percent increase in profits
Trinity Limited, controlled by Chinese giant Li Fung, and owner of Gieves Hawkes, Cerrutti and Kent & Kurven closed the first half of 2012 with a 10,5 percent increase in its profits, which reached a total of 265,3 million dollars. The company’s turnover rose to 1,4 billion dollars, an increase of 13,4 percent compared to the same period last year. Cerruti has been the best performing brand from the company’s portfolio, while geographically, Hong Kong and China registered the best performances.
Despite positive results, the economic crisis has prompted Trinity to slow down expansion of the retail network for its brands for the second half of 2012, with 30 new store openings instead of 50.