Italian clothing company Miroglio Group has entered into a Joint Venture (JV) agreement with Chinese women's wear manufacturer Elegant Prosper, acquiring 50 percent stake in the Chinese company. Valued over €5 million, the deal would allow Elegant Prosper to open at least 70 new
|
| sales outlets in the coming year. Furthermore, this venture is also expected to help Miroglio Group to strengthen its market image. It is interesting to note that Marches-based Miroglio owns 15 ladies' fashion brands, while the Shanghai-based Elegant.Prosper operating from two production sites in China, enjoyed a turnover of €10 m for 2003. 
|
|
