February 24, 2014 / 6:47 PM / 4 years ago

Chinese retail group buys Italy's Krizia fashion brand

MILAN (Reuters) - Chinese retail group Shenzhen Marisfrolg has bought Krizia, one of Italy’s oldest ready-to-wear fashion brands, and plans to open new shops in Asia, the companies said on Monday.

The sale by founder Mariuccia Mandelli, who took the name Krizia from a dialogue on vanity by the philosopher Plato and showed her first fashion collection in 1964, should close by April, a statement on Krizia’s website said without giving any financial details.

Reporting by Isla Binnie; Editing by David Goodman

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