DJ Shandong Ruyi Targets Affordable Luxury in Plans to Build Fashion Empire -Reuters
--Chinese apparel firm Shandong Ruyi wants to build an empire to rival European luxury giant LVMH, and is targeting more brands in the "affordable luxury" segment, Reuters reports.
--The firm has already acquired control of several European luxury companies, such as France's SMCP, through aggressive deal-making worth billions of dollars, Reuters says.
--Ruyi's strategy is shared by other Chinese firms like Fosun, which earlier this year took control of Lanvin; this could lead to an increase in M&A activity in the fashion sector, Reuters says.
Full story: https://reut.rs/2OGXGvc
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November 12, 2018 07:02 ET (12:02 GMT)
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