By  on December 12, 2008

MILAN — IT Holding SpA said late Thursday it had reached a nonbinding agreement with China’s Mensun Ltd., concerning “a possible disposal of assets” belonging to the Italian fashion group.

IT Holding, which owns the Gianfranco Ferré, Malo and Exte brands and operates under license the Just Cavalli, Costume National C’N’C and Galliano labels, also appointed turnaround specialist Pierantonio Nebuloni as chief executive officer, replacing Tonino Perna, who remains chairman.

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