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Hong Kong tycoon Henry Cheng makes bid for Giordano clothing chain

Shareholder rejects 'cheeky' offer as 'far below fair value'

Giordano was an early pioneer of casual fashion in Asia that helped inspire Japan's Tadashi Yanai, chief executive of Uniqlo's parent company. (Photo by Kenji Kawase)

HONG KONG -- Hong Kong's Cheng family, which controls Asia's largest jewelry store chain and several shopping malls in the city, is bidding to take control of storied clothing retailer Giordano International.

Giordano, a pioneer of casual fashion in Asia that helped inspire Uniqlo boss Tadashi Yanai, has atrophied since achieving peak profits of 826 million Hong Kong dollars ($105 million) in 2012.

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