Men's garment manufacturer – Zhejiang Baoxiniao Garment, has made an investment of 15.30 million Yuan for acquiring 51 percent stake in Shanghai Bilute Garment.
Shanghai Bilute Garment has been set up on 22nd October, 2010 and it manufactures as well as sells low-cost sportswear, which are fashionable in look.
This investment may drastically influence the business of Zhejiang Baoxiniao Garment since the company has no experience in handling sportswear. Besides, the domestic sports garment market of China is marked by tough competition.
Fibre2fashion News Desk-India
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