Zhejiang garment maker acquires Shanghai rival

Zhejiang Baoxiniao Garment Co will pay US$17.38 million (RMB122 million) for smaller rival Shanghai Baoniao Garment Co, in which it already holds a 20% stake, to take advantage of the latter’s customized services and e-commerce platform, China Business Net reported. Baoniao is an ad hoc processor of medium- to high-end menswear. It has two assembly lines with an annual capacity of 500,000 suits and one assembly line with an annual capacity of 400,000 shirts. Baoxiniao said in its 2008-2012 plan it will use Baoniao’s facilities to customize Carl Bono luxury products, and that it will run 30 exquisite-wear dealerships by 2012. Shenzhen-listed Baoxiniao is expanding on its outlets in first-tier cities by opening new outlets in smaller cities like Guiyang, Kunming, Jingdezhen and Shaoxing.