BESPOKE TAILORS - TWO FAMILY BUSINESSES AND TWO TALES
Michael Louie
CPA, Partner at D+H Group LLP, Multi-family Office, Family Enterprise Advisor, Investor in the Underrepresented
Gieves and Hawkes and Henry Poole, both family businesses, both in the same tailoring business and both located on the prestigious Savile Row in London. Sadly, however, two different paths.
The family owners of Gieves and Hawkes , in a number of steps, sold their business to a Hong Kong based public company and now to a UK based firm. ?The last step was to sell their beloved and priceless property at #1 Savile Row,?Buyout of Gieves and Hawkes? Did they have a succession plan?
Henry Poole continues the family tradition and still Poole family members run the tailoring business. ?Their website speaks of tradition, pride in the business and pride in workmanship. ?I am not saying that Gieves and Hawkes did not have pride but what becomes apparent to me is that the Henry Poole family appear to be vigilant in ensuring that the family remains engaged and active in the business. ?Learn the story of the Poole family in the timeline here:?https://www.henrypoole.com/henry_poole_story/timeline.cns
Tradition, communication and an unrelenting passion about the business. ?These perhaps were the keystones to keep the Henry Poole business successful and kept it in the family. Link to my blog
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