Private equity firm Sun Capital will buy a 30 % share of Italian firm Duemmei , owner of the Mr & Mrs Italy fashion brand . This marks the Chinese firm 's first investment in the fashion industry , as the luxury goods sector slowly begins to recover following China 's economic recovery . “ Luxury consumers are trending much younger and looking for more casual and specialized clothing ” , said Yuan Wei , Hony 's managing director .
Private equity firm Hony Capital will buy a 30% share of Italian firm Duemmei, owner of the Mr & Mrs Italy fashion brand. This marks the Chinese firm's first investment in the luxury industry, as the luxury goods sector slowly begins to recover following China's corruption crackdown. “Luxury consumers are trending much younger and looking for more casual and specialized items”, said Yuan Bing, Hony's managing director.