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100 years of history - Sold!

post #1 of 17
9/19/11 at 12:03pm
Thread Starter 
Just heard from my tailor that Gieves and Hakes have sold No.1 Savile Row after making £2.4 million loss last year. Sad way for 100 years of history to go. I had felt for a while that they had lost their way with all their concessions, diffusion lines and RTW bits and bobs, maybe they should have stuck to what they know?

Sad times :-(

Cheers
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post #2 of 17
9/19/11 at 12:05pm
Anyone know what the plan for the building is? They have sold it, but that doesn't mean they wont retain some kind of premises there.
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post #3 of 17
9/19/11 at 12:10pm
Thread Starter 
It's been sold to a property company from Hong Kong apparently. Gieves have been owned by USL Holdings (HK) for a few years, so maybe they've sold to themselves and will lease the building back? I hope so, would be sad to have another fashion retailer buy on the Row.

Cheers
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post #4 of 17
9/19/11 at 12:51pm
Quote:
Originally Posted by tennisguru View Post

It's been sold to a property company from Hong Kong apparently. Gieves have been owned by USL Holdings (HK) for a few years, so maybe they've sold to themselves and will lease the building back? I hope so, would be sad to have another fashion retailer buy on the Row.

Cheers

LOL, did the Armoury buy Drakes AND Gieves & Hawkes?
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post #5 of 17
9/19/11 at 7:44pm
Quote:
Originally Posted by jrd617 View Post


LOL, did the Armoury buy Drakes AND Gieves & Hawkes?

My very first thought.
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post #6 of 17
9/19/11 at 7:49pm
Quote:
Originally Posted by jrd617 View Post


LOL, did the Armoury buy Drakes AND Gieves & Hawkes?

if so, i'd just say screw it and send them my resume now.
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post #7 of 17
9/19/11 at 7:53pm
Quote:
Originally Posted by Blackhood View Post

Anyone know what the plan for the building is? They have sold it, but that doesn't mean they wont retain some kind of premises there.

I doubt they'll move out - they've just put so much work into renovating the place.
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post #8 of 17
9/19/11 at 8:40pm
Quote:
Originally Posted by w.o.e.is.me. View Post


if so, i'd just say screw it and send them my resume now.

Promote/hire from within!

Within SF, that is.
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post #9 of 17
9/19/11 at 9:22pm
wow, that's something. I guess nothing lasts forever, but yeah hopefully it's something like the lease back deal.
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post #10 of 17
9/19/11 at 9:59pm
Quote:
Originally Posted by jrd617 View Post


LOL, did the Armoury buy Drakes AND Gieves & Hawkes?

LOL. Really though, it's so sad to think they went out.
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post #11 of 17
9/20/11 at 12:31pm
Problem with Gieves is that they have tried to sell to every market instead of focusing on bespoke and having one RTW range.


"Gieves & Hawkes Plc, the U.K. tailor to clients including Princes William and Harry, sold its flagship London store to a group controlled by parent company Hong Kong-based Wing Tai Properties Ltd. (369), the Sunday Times reported, without saying where it obtained the information.As well as selling the store at 1 Savile Row, London for 8.5 million pounds ($13.4 million), Gieves & Hawkes closed eight concessions, including seven at House of Fraser stores."
http://www.bloomberg.com/news/2011-09-18/royal-taylor-gieves-hawkes-sells-flagship-store-times-says.html
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post #12 of 17
9/20/11 at 1:14pm
Other news from Savile Row (well. actually nearby) Aquascutum has moved out of his flagship store
100 Regent Street and will be trading only from department store concessions.

Austin Reed will be moving across the road and into the former Aquascutum store (obviously downsizing).
Some American company (can't remember who) will be moving into the former Austin Reed premises.
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post #13 of 17
9/20/11 at 1:32pm
Quote:
Originally Posted by bengal-stripe View Post

Some American company (can't remember who) will be moving into the former Austin Reed premises.

Walmart George At ASDA ??

Its all going to hell in a handcart !!!!
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post #14 of 17
9/20/11 at 1:52pm
Quote:
Originally Posted by Macallan View Post

As well as selling the store at 1 Savile Row, London for 8.5 million pounds ($13.4 million),

That's a great deal for a property of its size in Mayfair...I smell a rat methinks.
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post #15 of 17
9/20/11 at 2:43pm
Quote:
Originally Posted by Ich_Dien View Post


That's a great deal for a property of its size in Mayfair...I smell a rat methinks.

That what I initially thought: "8.5 millions will get you a medium sized flat in 'Number 1, Hyde Park'!"

But then then, the people in Savile Row are only lease holders, freehold is owned by the Pollen Estate The price will be determined by the lease and not the actual property.
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