ITALY: Valentino Fashion Group buys stake in Proenza Schouler
Italy's Valentino Fashion Group SpA has bought a 45% stake in US-based designer fashion label Proenza Schouler for $3.7m.
Valentino Fashion Group chief executive Stefano Sassi will become chairman of Proenza Schouler, and Shirley Cook will continue to serve its CEO.
Sassi said that the investment, along with Valentino Fashion Group's distribution network, will help support Proenza Schouler's international growth.
Valentino Fashion Group has posted an 11.4% increase to net income for the first nine months of the year, with its Hugo Boss brand driving sales figures....
Female consumers are fueling the growth in Chinese consumer spending, according to a report by Credit Suisse....
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