Xia Guoxin, chairman of Shenzhen Ellassay Fashion, and his wife Hu Yongmei today became the latest entrepreneurs from China's fashion and apparel industry to become billionaires. Xia and Hu own a combined 64% stake in Shenzhen Ellassay worth $1 billion at today's record closing price of 62.77 yuan at the Shenzhen Stock Exchange. Ellassay went public last month in an IPO that raised 766.4 million yuan, or $123.6 million, from the sale of 40 million shares at 19.16 yuan each. The stock has gained more than 200% since. "Ellasssay women are as pearls in the water," according to the company's ...