Victoria Tang appointed Shanghai Tang’s creative director as brand returns to Chinese ownership
- Tang is the eldest daughter of the late Sir David Tang, who founded the luxury lifestyle brand in Hong Kong
- A Shanghai-based private equity firm recently acquired Shanghai Tang
Victoria Tang has been appointed as Shanghai Tang’s creative director, the Post has learned.
Tang is the eldest daughter of the late Sir David Tang, who founded the lifestyle brand in Hong Kong in 1994 and made it China’s first global luxury brand. David Tang, also the founder of Hong Kong’s exclusive China Club, died in August 2017.
Expanding rapidly around the world, at its peak Shanghai Tang boasted boutiques in fashion capitals London and New York.
In 1998, Tang sold the brand to Swiss luxury group Richemont, the company behind jewellers such as Cartier and Van Cleef & Arpels and fashion labels such as Chloé and Dunhill.
Last year, Richemont, which never fully invested in the growth of Shanghai Tang, sold it to Alessandro Bastagli, an Italian businessman, and Hong Kong-based private equity firm Cassia Investments.
Bastagli hired former Salvatore Ferragamo designer Massimiliano Giornetti to lead the revamp of the label.
Less than a year after the deal, amid tensions between Bastagli and Cassia Investments, the brand has returned to Chinese ownership.
Shanghai-based private equity firm Lunar Capital has acquired Shanghai Tang, according to reports in Italy’s leading daily financial newspaper Il Sole 24 Ore.
Victoria Tang’s is the first high-profile hire by the new owners. A regular on the international art and fashion circuit, Victoria studied photography and graphic design at Central Saint Martins in London, and is the co-founder of Thirty30 Creative, an agency that has worked with clients such as luxury lifestyle store Lane Crawford and fashion labels Max Mara and Dior.
Victoria Tang is also the president of the Hong Kong Down Syndrome Association.
Tang was not available for comment about her recent appointment.