The parent group of Clarks has moved into the footwear market again, this time acquiring Italian brand Amedeo Testoni for a sum of around €5.5 million.

In March, Clarks came under the ownership of Viva China Holdings Limited, a group set up by former Chinese Olympic gymnast Li Ning. This represented a departure for Li Ning, whose business interests had previously focused on sports footwear and clothing.

Amedeo Testoni was founded in Bologna in 1929 but the brand had already gone into Asian ownership. Hong Kong-based Sitoy Group acquired the brand three years ago and it is Sitoy that has now sold the brand to Viva China.

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