HONG KONG — Trinity Limited said Friday its full-year net profit declined 42.9 percent as government austerity measures in mainland China curbed demand for its high-end menswear labels, which include Kent & Curwen, Cerruti 1881 and Gieves & Hawkes.
Hong Kong-listed Trinity, part of Fung Retailing Limited, warned it is "cautious" on the near-term outlook in China. While the economic slowdown appears to have bottomed "there is no catalyst yet for a rebound," the company said. Still, Trinity said it is still optimistic about its long-term prospects in the country and it believes China will "fulfill its promise as the biggest luxury market in the world."
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)