Cerruti 1881 continues trading, awaits potential buyer
Nicola Mira
Nothing has truly changed for CerrutiTrinity
Trinity Limited, a distributor specialised in high-end menswear, was formerly owned by Li & Fung, belonging to Hong Kongese conglomerate Fung Group. In 2017, Chinese textile giant Shandong RuyiGieves & Hawkes
Cerruti 1881 was founded in Paris in 1967 by Italian designer Nino Cerruti, who passed away in January, and was successful notably in the 1970s and 80s. Since 2001, when Cerruti sold his label to Italian holding company Fin.Part and retired from fashion, the brand has changed hands a number of times. After various setbacks, Cerruti 1881 was taken over by US investment fund MatlinPatterson Global Opportunities Partners, and was sold in 2010 to Trinity Limited, which was in turn acquired by Shandong Ruyi.
Claire Landrau, global vice-president marketing and communication at Cerruti 1881, told FashionNetwork.com
Cerruti 1881 is still led by Laurent Grosgogeat, who took the helm in 2016, and the business is centred around product licences, enabling the company to stay afloat during this transition phase. The label’s most important licence is for fragrances, granted in 2018 to British company Designer Parfums, followed by that for leather goods (bags and shoes for men and women). Cerruti 1881’s leather accessories have been produced under licence for 18 years by Italian manufacturer Principe, and are distributed via 2,000 retailers in 40 countries between eastern and western Europe and the Middle East.
Watches are another important source of business for the label, especially in France. They are produced and distributed by International Luxury Group, based in Switzerland. Another licence covers ties and scarves, and is managed by French company Anthime Mouley. Underwear, nightwear, socks and loungewear are produced by Malu NV.
The men’s ready-to-wear line was instead put on hold shortly after the departure of creative director Jason Basmajian
“Fortunately, we do not have to depend entirely on our parent company. Our licensing business is very well established, and this allows to bide our time until the liquidators’ decisions. We can’t wait for things to go back to normal, so that we can announce our next new projects,” she added.
Trinity’s other brands, Gieves & Hawkes and Kent & Curwen, are also waiting to learn their fate, and the same goes for other assets owned by Shandong Ruyi. At the end of 2021, the Chinese group was ousted by its creditors from SMCPSandroMajeClaudie PierlotFursacLycra
