According to reports, Singapore-based furniture company Lorenzo International has formed a joint venture with the Lugano Group, a manufacturer and exporter of leather sofas, and investment company New Windsor International.

The new company, which will be based in Shenzhen, China, will sell premium leather furniture to Greater China and will be called Lorenzo-Lugano Furniture.

Lorenzo will hold a 55% stake in the joint venture company while Lugano will hold a 25% stake and New Windsor a 20% stake.

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