The Standard
Footwear specialist Belle International Holdings yesterday said it will buy about 32 percent of a Japanese apparel retailer and launch joint ventures with the firm in the mainland, spending about HK$924 million.
The Shenzhen-based firm will acquire 31.96 percent of Baroque Japan for HK$733 million and the rest will be spent on the joint ventures.
Set up in 2000, Baroque had 348 outlets under three apparel and accessory brands in Japan, Hong Kong and the mainland as of April this year.
The purchase marks Belle’s first foray into the apparel business.