Hony and Duemmei did not disclose details of the deal. 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 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 .