Dual-listed AMTD Group has acquired the Vivienne Tam brand, adding the fashion label to its portfolio.
Following the acquisition, which includes the acquisition of certain assets and intellectual properties globally, Tam herself will be appointed as head of design and creations of AMTD Digital.
She will also be appointed as a board director of AMTD Digital, pending corporate governance approval procedures.
Vivienne Tam, the Hong Kong designer now based in New York, founded her eponymous brand in 1993 in New York City. Today, the brand is known for its East-meets-West approach to design as well as global collaborations.
According to AMTD Group in its Nov 1 statement, the group says it intends to develop and transform the Vivienne Tam brand into an “increasingly global front-running brand expanding in full scale into the metaverse and tapping into a global network of Web3 partners”.
In September, Tam looked to non-fungible tokens (NFTs) for inspiration at the New York Fashion Week, featuring iconic designs from Bored Ape Yacht Club and CryptoPunks on her designs.
L’Officiel Inc, which was also newly acquired by the AMTD Group, will “lead the step-up of Vivienne Tam’s brand legacy, fuse its digital transformation, and expand its global connectivity to put the brand into multi-media channels over multi-lateral dimensions”.
“I am very happy to see how AMTD Group continues its international strategic development with this acquisition, and contributes to promoting worldwide awareness and the soft power and influences of Chinese culture and creativity for the East to meet the West business thematic and approaches,” says Dr. Feridun Hamdullahpur, chairman of AMTD IDEA, and a board director of AMTD Group and AMTD Digital.
“This moment truly reinforces AMTD Group’s ambition of developing an innovative vision for lifestyle, fashion, entertainment, and VIP services on a combined basis. AMTD Group embraces Vivienne Tam’s brand as one of our strategic moves to go into sub-verticals from L’Officiel, our global fashion media business, and target for acquisition opportunities over a wide diversity range of brands and intellectual properties to establish our unique platform of luxurious and VIP services. I am proud to see such renowned global brand joining our network of champions and ecosystem partners,” adds Dr. Calvin Choi, Chairman of AMTD Group and Chairman of L’Officiel.
“I have always had a great respect for Vivienne Tam and the way she successfully created a unique bridge between cultures throughout her brand. This is a very exciting moment for both AMTD Group and [the brand] Vivienne Tam as I am sure this dialogue will foster our common creativity even further,” says Marie-José Jalou, daughter to L’Officiel’s founder and retired president of L’Officiel.
“I am excited for the opportunity to join hands with Calvin and have the Vivienne Tam brand to officially enter AMTD Group’s integrated network and contribute to its global strategy, in line with my brand’s philosophy of building bridges between the East and the West. I believe this will be a great step in creating new ways of fashion expression under the Vivienne Tam brand and contributing to people’s living in better ways for the future,” says Tam.
As at 11.30am, shares in AMTD IDEA are trading flat at $12.97.