Chinese companies are buying up a growing number of overseas consumer brands as intense domestic competition spills over into international sectors relatively removed from geopolitical tensions.
Just months after Chinese apparel conglomerate Anta acquired a 29 per cent stake in Puma for €1.5bn, ultra fast-fashion retailer Shein this week struck a deal to acquire “sustainable” US clothing brand Everlane for a reported $100mn.
Everlane is being sold by L Catterton, an LVMH-backed private equity firm that has held a majority stake in the San Francisco-based basics retailer since 2020.
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