Buffett’s Endorsement Of Trands, Suitmaker For China’s Government Elite, Gives Small Clothing Brand International Notoriety
Warren Buffett’s interest in China as an investment destination is well known, and his words of praise for (or investments in) the occasional Chinese company seems to have the effect of boosting that company’s visibility abroad virtually overnight. H is company’s $230 million investment in Chinese electric and hybrid automaker BYD has elevated what was only a few years ago a fledgling battery maker into a brand which is set to enter the US market as early as next year. So for little-known (even in China) Chinese menswear designer Trands, Buffett’s endorsement of his newest Chinese-brand-of-the-moment is definitely exciting news — especially because their stocks have risen 70% since the release of a video in which Buffett extols the brand’s qualities. As the Wall Street Journal writes today,
Move over Brioni, the truly rich and powerful are wearing Trands.
The obscure menswear label is produced by Dayang Group, a clothing company founded by Li Guilian, 63 years old, a diminutive farmer-turned-fashion mogul, in northeast China.Ms. Li’s company got a major boost after Mr. Buffett, chairman and chief executive of Berkshire Hathaway Inc., recently appeared in a Dayang promotional video, posted on the company’s Web site. He heaped praise on Ms. Li, her company, and the nine Trands suits he proudly owns. Shares of Dayang’s Shanghai-listed subsidiary, Dalian Dayang Trands Co., have soared by more than 70% since the video was posted on Sept. 10.