The chairman of Hong Kong apparel brand and supply-chain services company Hembly International has bought Italian tennis-wear brand Sergio Tacchini for EUR27m (US$42.3m) according to media reports today (6 June).

Billy Ngok, who finalised the deal at the end of April, has made the acquisition as a private investment.

He is said to be planning to open 120 shops in mainland China in the next three years.