Shanghai Tang () is a Hong Kong luxury fashion house founded in 1994 by Hong Kong businessman David Tang. The brand is known for its luxury homeware collection and fine bone china. In 1998, Richemont acquired David Tang's controlling stake in the business. David Tang stated that Shanghai Tang is a Chinese label that set out to rejuvenate Chinese fashion of the 1920s and 1930s. The fundamental design concept is inspired by 1920s Cheongsam combined with the modernity of the 21st century. Shanghai Tang is noted for its use of Chinese culture and heritage in its product styling, branding and marketing. History Early years Shanghai Tang was partially inspired by Tang's desire to create a global brand that represented China, stating, "as Coca-Cola is American, as Mercedes is German, I think there should be something that is quintessentially Chinese". After founding the China Club in 1991, Tang moved to incorporate his tastes of fusing Shanghainese design with modern style by forming Shanghai Tang in 1994. Its flagship location is on the ground floor of Pedder Building, Central, Hong Kong. Initially, Shanghai Tang was a fashion house for custom high-end tailoring, employing tailors from Shanghai who left during the Communist Revolution. Tang expanded his business to sell ready-to-wear items in 1996. Expansion into a global brand, and resulting change The late 1990s and early 2000s were marked by change for Shanghai Tang. Tang wanted to turn the company into a global brand, and so his Hong Kong location was followed by 24 outlets worldwide over the years, including Bangkok, Beijing, Honolulu, London, Miami, New York City, Las Vegas, Madrid, Paris, Shanghai, Tokyo, Singapore and Macau. They are often located in well-known areas such as Singapore's Orchard Road, Bangkok's Sukhumvit Road, and Shanghai's Xintiandi. Shanghai Tang's first American store was opened in New York on November 21, 1997, and in 1998, the Swiss company Richemont bought a controlling stake in the fashion house. However, the New York store, located on Madison Avenue, closed in less than two years due to lower-than-expected sales, relative to the high rent. The store was moved to a smaller venue in 2001. In 2001, Raphael le Masne de Chermont, from the parent company Richemont, was appointed CEO of Shanghai Tang. In addition, Joanne Ooi joined the company as creative director the same year. As the chief executive, Le Masne de Chermont wanted to figure out a way