Lilang Fashion Group has partnered with Descente and Shanghai Descente to establish a joint venture, Wanxingwei Ltd, with a registered capital of approximately 278 million RMB ($39 million). Lilang will contribute 150 million RMB ($20.5 million), holding a 54% stake. The venture will focus on designing, selling, and distributing Munsingwear products in China, starting by 2025. Munsingwear, known for its functional and comfortable designs, aims for rapid growth in China with Lilang’s retail and supply chain expertise. In the first half of 2024, Lilang Group reported a 7.3% YoY increase in revenue to 1.6 billion RMB ($222 million), a 3.6% rise in net profit to 280 million RMB ($38.5 million), and gross margin of 50%.