Italian fashion group, Valentino SpA announced it has acquired the remaining 49% of the capital stock of Valentino Japan Ltd. from Mitsui & Co., reaching 100% control of its Japanese subsidiary.
Having been established by Mitsui & Co and two other Japanese companies in 1974, 51% of the capital stocks of Valentino Japan Ltd was sold to Valentino in 2004. The Valentino Japan business was then operated as a joint Venture between Valentino and Mitsui & Co. until the end of 2007. They’ve now reached an agreement to dissolve the joint venture, which is in line with the global strategy of Valentino to further develop the Japanese Market.
Even though Valentino acquired the Japanese shares, Chairman of Valentino, Matteo Marzotto, is leaving on March 19 to pursue new entrepreneurial challenges. Marzotto leaves with the approval of the group’s financial statements.
Click Here: liverpool mens jersey