Japan's Cross Company has raised its stake to 67% as the majority shareholder of the New York-based apparel company Thom Browne.
This is a major win for the company for which had been struggling this past year. President Josh Sparks, who had been instrumental in restructuring the business since he joined the company in July, also initiated a critical overhaul of the company which included new sportswear and classics ranges to expand the Thom Browne brand.
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