China Textile Firm to Take Stake in Japan's Renown

China’s textile group, Shandong Ruyi, will take a 41 percent stake from Japanese apparel maker Renown Inc, making it the largest shareholder.



The deal will give Shandong Ruyi a platform for expanding its presence in Japan while providing Renown, a loss-making collection of clothing brands, with a partner to increase its sales in the fast-growing Chinese market.

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