CHINA: A Chinese businessman hopes to sell French fashion house Louis Vuitton the right to its own brand name transcribed in Chinese for 120 million yuan, media here reported on Monday.

Despite opposition from the French group, Wang Jun, a businessman from the central Chinese city of Wuhan, secured the right to the trademark "Louyiveiten" in Latin letters, as well as to the corresponding Chinese characters on January 21, according to a recent report in the Yang Tse daily.

When contacted by AFP, Louis Vuitton, which is part of the LVMH group, refused to comment, saying only that the issue was "under investigation".

Wang Jun discovered in 2002 that Louis Vuitton's trademark rights did not extend to all of its businesses, including packaging and e-commerce, and immediately filed for rights to the brand name himself, according to an article published on a textile sector website on Monday.

According to the article, Wang told journalists over the weekend that he was preparing to go to France to discuss the potential sale, and that he was planning on asking for 120 million yuans for the trademark rights.

He had previously denied plans to sell the brand name, according to Chinese media.