Backed by Italian and British investors, Alessandro Bastagli has taken over Shanghai Tang, the first Chinese luxury apparel firm to have obtained some international relevance. Among other holdings, Bastagli is the Italian entrepreneur who controls A. Moda, the Italian licensee of Everlast, and Dimensione Danza, the Italian brand of fitness clothing and dance wear. Founded by Sir David Tang in 1994, it was taken over by Richemont, the owner of Cartier and other luxury goods brands, in two stages in 1998 and 2008.

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