Casual apparel retailer-manufacturer Glorious Sun Enterprises Ltd and fashion house I.T Ltd are set to invest HK$200 million in a joint venture to tap China's growing streetwear market.

Glorious Sun, which operates about 630 retail outlets in China, and I.T, operator of 27 Chinese retail stores, will begin selling American surfwear label Quiksilver and I.T's Japanese brands in major Chinese cities as part of the agreement.

According to Glorious Sun chairman Charles Yeung, the companies plan to open up to 200 more outlets within the next three years through the joint venture.

"We expect the venture to reach break-even in two years," he said.

I.T managing director Sham Kar Wai, meanwhile, announced the company was considering outsourcing the manufacture of its namesake-label garments to Glorious Sun as an extension of the deal.

I.T is an agent for Japanese and European fashion brands such as Martin Margiela and Helmut Lang, while Glorious Sun's client list includes DKNY, Gap Inc and JC Penney.