Retail in Asia

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Esprit to buy Chinese venture partner

Esprit is set to buy out its Chinese venture partner as it looks to ramp up its presence in that market.

The Hong-Kong listed fashion retailer, which has over 800 owned stores worldwide, will buy out venture partner China Resources Enterprise, paying HKD3.9 billion for the 51-percent stake it does not currently own.

(Source: Retail Week)