Menswear business Trinity Brands is relocating its Savile Row head office functions to Marylebone, in a bid to save costs.
The group, which manages luxury menswear brands Gieves & Hawkes, Cerruti 1881 and Kent & Curwen, is shifting its office functions at the end of this year. It is currently based at 7 and 14 Savile Row.
The relocation will consolidate its office functions, which include product development and marketing, into one space. Its brands will continue to operate at their Savile Row commercial spaces.
The group, which is operated by Fung Group-owned and Hong-Kong-based Trinity, also operates high-end menswear businesses D’Urban and Hardy Amies under a long-term global licence, bringing its brand count to five.
The latest half-year figures for Trinity, which appear to exclude Hardy Amies, showed revenue and profit fell in the six months to 30 June as sales in Hong Kong, Macau and Taiwan “remain subdued”. Revenue dropped by 3.2% to HK$862.4m (£84.7m), while gross profit declined by 2.1% to HK$594.3m (£58.3m).
However, Trinity said its three wholly owned menswear brands, Cerruti 1881, Gieves & Hawkes and Kent & Curwen, recorded double-digit sales growth during the period, as did licensed brand D’urban.
On Kent & Curwen, the group said its partnership with David Beckham has “incurred significant costs, including design and development, in advance of any product being available in stores”, which hit profitability.
Despite this, it said it remained “”confident that [its] association with him will reap rewards in the future”.
It also outlined plans to expand Gieves & Hawkes’ licensing business into complementary product categories such as eyewear, luggage and fragrances in a bid to “drive revenue and build awareness”.