Italian clothing retailer OVS has agreed with Gap Inc to take over and run all 11 stores the U.S. apparel group has in Italy, adding that it plans to expand the network to 20 in a few years.
The United States plans to remove Ethiopia, Mali and Guinea from the agreement that gives them duty-free access to the United States, President Joe Biden said in a letter to Congress, citing human rights violations.
Li Ning is experiencing a runner's high. The Chinese sportswear maker will raise $1.3 billion to capitalise on a stock rally partly fuelled by nationalistic Gen Z. International expansion and brand-building are among the targeted uses for the money, but the company might get more bang for its buck by investing more internally.
Chinese sportswear group Li Ning Co Ltd said on Thursday it planned to sell HK$10.5 billion ($1.35 billion) worth of new shares to raise capital for international expansion and for investment in newly launched product categories.