By  on February 24, 2014

MILAN — Krizia, one of Italy’s first ready-to-wear brands that helped build the country’s global fashion identity, is changing hands. And founder Mariuccia Mandelli is passing the baton after six decades in business.

Leading Chinese fashion retailer Shenzhen Marisfrolg Fashion Co. Ltd., has taken control of Krizia SpA, WWD has learned. Financial details of the transaction, which is expected to be finalized and operative in late spring, were not disclosed.

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