The Sergio Tacchini sport fashion trademark was founded by the Italian tennis champion with the same name in the Sixties, and quickly achieved world fame.
In 2007, the Chinese corporation Hembly bought the Sergio Tacchini International Ltd.
The new Chinese management has now announced that all Italian activities of the Sergio Tacchini corporation will be shut down no later than January 24th 2013. This means 42 employees will be fired.
The move by Hembly could stir up again Italian fears of a Chinese economic destructive takeover.
The fashion sector, so sensitive in Italy, has complained for long of the supposedly unfair competition by the Chinese industry, which even operates clandestine factories in Italy.
More generally, the influx of cheap goods from China is putting real pressure on Italian enterprises and retailers.
In 2005, the right-wing Northern League party advocated the imposition of duties on Chinese imports. The idea proved impracticable since customs are under the jurisdiction of the European Union, which in turn is bound to respect the WTO agreements.
Chinese people are not intimidated anyway. In 2007, the Chinese district in Milan rebelled against police checks felt as harassing. Thousands of Chinese immigrants took the streets, waving Chinese flags and in some cases attacking the police or private property.
Mr. Limin Zang, the Chinese Consul in Milan, tried to strike a conciliatory note, but also added that the Italian police had exceeded in zeal, and that he was going to protect the interests of regular Chinese immigrants.