CHINA: Salvatore Ferragamo raises stake in Chinese distribution JVs
Salvatore Ferragamo has increased its stake in distribution firms operating in Greater China
Italian luxury footwear, fashion and leather goods group Salvatore Ferragamo has lifted its stake in distribution firms operating in Greater China as it looks to expand its presence in Asia.
The company has raised its stake in distribution joint ventures with Imaginex Holdings and Imaginex Overseas from 50% to 75%. Ferragamo has also renewed the agreements until 31 December 2019.
The news comes after Ferragamo boosted its stake in a distribution joint venture with Hong Kong-based Trinity last month.
The luxury fashion business saw its profits rise 8.1% in the first nine months of the year, helped by a double-digit hike in revenues.
- Garment manufacturers eye Myanmar outsourcing
- PSF 2014: Shifting focus from cost to consumer
- PSF 2014: No one size fits all in apparel sourcing
- Mexico's shoe makers blame their woes on China
- SuperGroup realigns supply chain to support growth
- Adidas China supplier in discussions over strike
- Bangladesh PM asks clothing buyers to pay more
- Jones CEO to depart as Sycamore splits business
- Workers strike at Adidas supplier shoe factory
- City sees "no quick fix" for Debenhams
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Jeans in Italy
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects