Renown To Plan To Open 2,000 Stores In China

Renown Inc., announced that it plans to set up at least 2,000 shops in China by 2021 under a partnership with major local textile company Shandong Ruyi Science & Technology Group. The troubled Japanese apparel firm will be a Shandong Rui unit through an extraordinary shareholders meeting to be held on July 29 to approve the Chinese company's obtainment of a 41% stake in Renown.