Shandong Ruyi on fast track to overseas acquisition
(chinadialy.com.cn)|Updated : 2018-10-23t
Shandong Ruyi Group, a world-leading textile manufacturer, is stepping up its plan to takeover more renowned international luxury brands to help stand at the top of the global fashion pyramid.
“Ruyi has nudged into the top 16 among global top 100 luxury brands, together with the well-known brands such as Dior and Louis Vuitton,” said Li Yunpeng, the director of brand publicity in Ruyi Group on Oct 19.
Founded in 2001, has developed into a global fashion and luxury group during less 20 years which contribute to its overseas acquisition.
In May 2010, Shandong Ruyi became the largest shareholder of Japanese clothing brand operator RENOWN in a deal worth about 4 billion yen ($44 million). The acquisition is the first time a Chinese textile company has bought a listed Japanese company.
Later the company frequently takeover famous overseas fashion brands through capital operation which make it into the most active Chinese buyer in the international fashion market.
According to Li, Ruyi Group make efforts to integrate global resources and attract world’s most outstanding designers. Moreover, it aims to promote its research and development ability by learning forn these international brands which are bought in the process of overseas acquisition.
“Through overseas acquisition, Ruyi gains not only excellent brands resources but more valuable management experience and human resources.”
Now, Ruyi has takeover a third of the high-end brands in Italy, Britain, France and Japan such as British luxury brand Aquascutum and Swiss luxury clothing brand Bally International AG.
Ruyi has a world-leading design team, and will launch its own high-end fashion brand in China with Chinese name is Ruyi and the English name Royal Ruyi, According to Li.
Ruyi will invest 10 billion yuan to establish a fashion industrial park and a science and technology industrial park and build a new retail ecosystem of joint designers, shopping guides and consumers.
Producing factory in Ruyi Group in East China’s Shnandong provice. [Photo provided to chinadaily.com.cn]
Ruyi products are seledted as gifts for guests in 2018 Shanghai Cooperation Organization. [Photo provided to chinadaily.com.cn]
Foreign media delegations visit Ruyi Group in East China’s Shandong ptovince. [Photo provided to chinadaily.com.cn]