Luxuries group adds Pink to its growing portfolio

BRITISH TAILORED shirts became the latest addition to LVMH's portfolio of luxury goods yesterday when the company announced it had bought a majority stake in Thomas Pink, the leading shirt-maker and retailer.

Moet-Hennessy Louis Vuitton, the French Champagne and luxury luggage group, declined to comment on details of the sale, but the company said it would expand the shirtmaker's presence in the United States and Europe.

"Thomas Pink is a solid brand that will benefit from the experience of the LVMH group and from new capital that will accompany its growth," said the Louis Vuitton Capital chairman, Daniel Piette.

The firm was established in Chelsea in 1984 by the brothers John, Peter and James Mullen. Thomas Pink quickly became the UK's number one luxury shirt brand through aggressive marketing.

The company was named after an 18th-century tailor in Mayfair whose claim to fame was to make the best hunting coats money could buy, hence the expressions "hunting pink" and "in the pink".

Its core product is the classic hand-made Jermyn Street cotton shirt. The most popular model, the Black Label, sells at pounds 55. The top of the range Sea Island shirt is retailed at pounds 75. The company, said to be planning a share flotation, also offers ties, underwear and accessories for men and women.

Bernard Arnault's rapidly increasing LVMH has become the world's leading luxury goods group. It owns Givenchy, Kenzo, Celine, Parfums Christian Dior and Guerlain. Earlier this year LVMH narrowly failed to take control of Gucci. The Italian fashion giant was rescued by LVMH's arch-rival Pinault- Printemps-Redoute. Less than a month ago LVMH bought the Swiss sport watch maker Tag Heuer for pounds 464m.

There are 20 Thomas Pink shops, including 17 spread across the UK, one in Dublin and two in the US, including the largest shirt store in the world on Madison Avenue, New York. It is almost twice as big as the company's flagship store in Jermyn Street. The company, still run by its founders, also sells through mail order and the Internet. There are some 227 staff and last year, sales reached pounds 24m with pre-tax profit of pounds 2.14m.

Thomas Pink shirts have long been a favourite of City slickers, but many women have also caught on to the tailored shirt look. The company introduced a women's shirt range 12 years ago, which now accounts for 14 per cent of the group's annual sales.

In July, LVMH said sales in the first six months of this year reached 3.59 billion euros (about pounds 2.23bn), rising 18 per cent in the second quarter alone. "We anticipate being able to accelerate the development of Thomas Pink and we are delighted the existing management team will remain," said Mr Piette.

The Thomas Pink chief executive, Des Swan, said:"We believe our partnership with LVMH will yield significant synergies in the roll-out of Thomas Pink worldwide through a variety of distribution channels."

Yesterday, LVMH shares in Paris closed at 287 euros, down 1 per cent.

PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
Richard Norris in GQ
mediaGQ features photo shoot with man who underwent full face transplant
News
Gardai wait for the naked man, who had gone for a skinny dip in Belfast Lough
newsTwo skinny dippers threatened with inclusion on sex offenders’ register as naturists criminalised
News
Your picture is everything in the shallow world of online dating
i100
News
The Swiss Re tower or 'Gherkin' was at one time the UK’s most expensive office when German bank IVG and private equity firm Evans Randall bought it
news
Life and Style
Attractive women on the Internet: not a myth
techOkCupid boasts about Facebook-style experiments on users
Independent
Travel Shop
the manor
Up to 70% off luxury travel
on city breaks Find out more
santorini
Up to 70% off luxury travel
on chic beach resorts Find out more
sardina foodie
Up to 70% off luxury travel
on country retreats Find out more
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Project Manager (HR)- Bristol - Upto £400 p/day

£350 - £400 per annum + competitive: Orgtel: Project Manager (specializing in ...

Embedded Linux Engineer

£40000 - £50000 per annum + competitive: Progressive Recruitment: Embedded Sof...

Senior Hardware Design Engineer - Broadcast

£50000 - £65000 per annum + Benefits: Progressive Recruitment: Working for a m...

Reconciliation Analyst

£200 - £250 per day: Orgtel: Reconciliation Analyst Gloucestershire

Day In a Page

The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
Countries that don’t survey their tigers risk losing them altogether

Countries that don’t survey their tigers risk losing them

Jonathon Porritt sounds the alarm
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz
A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

A new Russian revolution

Cracks start to appear in Putin’s Kremlin power bloc
Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

Apartheid’s sadistic killer that his country cannot forgive

The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

Standing my ground

If sitting is bad for your health, what happens when you stay on your feet for a whole month?
Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

Greene prays for chance to rebuild after injury agony

Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
Israel-Gaza conflict: Secret report helps Israelis to hide facts

Patrick Cockburn: Secret report helps Israel to hide facts

The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
The man who dared to go on holiday

The man who dared to go on holiday

New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

Best comedians: How the professionals go about their funny business

For all those wanting to know how stand-ups keep standing, here are some of the best moments
The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

The Guest List 2014

Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

Jokes on Hollywood

With comedy film audiences shrinking, it’s time to move on