Renown, one of Japan's best-known clothes makers, is set to come under the control of a Chinese textile maker in what would be the biggest investment by a Chinese investor in a public Japanese company.
The investment by Shandong Ruyi, one of China's leading makers of high-quality cotton and wool, highlights Chinese manufacturers' move up the value chain to acquire well-known brands.
Ruyi will pay about Y4bn ($44m) for a 41 per cent stake in Renown, which runs brands such as D'Urban and Anya Hindmarch, although the deal is subject to approval by the Japanese group's shareholders.
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