Baring Asia Buys Cath Kidston

A private equity company, Baring Asia (Hong Kong), has bought British retailer Cath Kidston (London), and Paul Mason, its chairman of six years, is to step down.

Mason will be replaced by a senior advisor to Baring Asia and former chief executive of Gucci, Wiliam Flanz, according to Retail Week.

Despite it’s British roots, only 30 percent of the retailer's 226 stores are located in the U.K. The bulk of locations are in 14 Asian and Middle Eastern countries and the retailer will open its first stores in India this fall.