What: fashion retail I.T. Group to follow suit to Lane Crawford, Joyce and Swank, and delist from the HK Market.

Why it is important: the long-time partner of Galeries Lafayette in China has been struggling to cope up with a declining brand image

I.T has proposed, in partnership with CVC Capital Partners, to buy back its floating stock at a price of HKD 3 a share, leading to a total deal of HKD 168 m. Mr Sham, founder, will retain 50,65% of ownership, while CVC will own 49,35%.

I.T. has not been able to follow the online trend, led by Alibaba and JD.com, be it in HK or in PRC. They need to pivot the business in a significant way, which may explain why Mr Sham needs to regain control of the company in order to pursue these changes while limiting the pressure.

I.T Group founder and CVC plans to delist from stock market