Abercrombie & Kent gets capital boost from Chinese investment firm

Abercrombie & Kent can organize bespoke travel experiences for clients

Zhonghong Group is purchasing the majority of equity shares in luxury travel company Abercrombie & Kent from the company’s current owners.

The Chinese-based Zhonghong is primarily active in travel and commercial real estate, developing and operating properties. While facing new ownership, Abercrombie & Kent’s leadership will remain in tact, with chairman, CEO and founder Geoffrey Kent retaining his position and a significant interest in the company.

Making an investment
One of Abercrombie & Kent’s current investors is a company funded by assets overseen by an affiliated of Fortress Group. Fortress Group co-chairman Wes Edens said Mr. Kent has grown the business since they began working together in 2006, and this new investor opens doors for further opportunities.

“My time with Fortress has been amazing for Abercrombie & Kent, especially my relationship with Wes Edens, who has been a wonderful mentor and friend,” Mr. Kent said in a brand statement. “Looking forward, the relationship with Zhonghong and their experience in real estate development and tourism positions A&K to continue to innovate by offering immersive and exhilarating experiences in uncharted destinations.

“It will give us access to capital to finance new investments in the expanding luxury and adventure travel markets,” he said.

An Abercrombie & Kent private jet experience included a camel ride

Abercrombie & Kent, founded in 1962, currently operates in more than 100 countries, with 52 offices helping travelers plan itineraries with luxurious accommodations, elevated transportation and safety.

To organize these trips, the firm has teamed up with other brands in the luxury space.

Abercrombie & Kent and British automaker Land Rover renewed their partnership to offer guests a refreshed list of seven self-driven, “off the beaten path” trips around the world.

The continuation of the collaboration across the brands allows the program to gain deeper roots and generate more attention from interested guests. Integrating two like-minded brands with a long-standing partnership will allow Land Rover and Abercrombie & Kent to build upon previous trips to curate interesting and new options for consumers (see story).

Since 2009, Abercrombie & Kent has also had an in-house travel agency at Harrods.

Abercrombie & Kent boutique within Harrods

“Abercrombie & Kent is a legendary brand,” said Yonghong Wang, Zhonghong Group chairman. “The quality of their service is unrivalled, which presents many exciting growth opportunities globally.

“Geoffrey Kent introduced the first African luxury tented photographic safaris in 1962 and brought that same sense of adventure to destinations around the world,” he said. “He will continue to lead the business as a true visionary in travel and tourism.”

from Travel and hospitality – Luxury Daily https://www.luxurydaily.com/abercrombie-kent-gets-capital-boost-from-chinese-investment-firm/
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