Shandong Ruyi news and archive

Shandong Ruyi, 'China's LVMH', is downgraded following spending spree

Fashion giant Shandong Ruyi, often considered the Chinese LVMH, has been downgraded by financial specialists Moody’s following a flurry of acquisitions. Shandong Ruyi is majority shareholder or parent company to host of global brands, including Bally, Aquascutum, Gieves & Hawkes and French Group SMCP whose fashion brands include Sandro, Maje and...

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Bagir sees strong start to 2019, extends deadline of Shandong Ruyi deal

Confirming 16.5 million dollars investment from Shandong Ruyi to acquire 53.7 percent stake, tailoring specialist Bagir has said that the company has agreed to a further extension of completion date to March 31, 2020. Commenting on the current trading, Bagir said, while trading conditions have remained challenging, the company has had a strong...

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Shandong Ruyi buys Invista's global Lycra business

China’s apparel and textile major Shandong Ruyi has announced the acquisition of Invista’s apparel & advanced textiles business. The purchased portfolio includes Lycra, Lycra HyFit, Lycra T400, L by Lycra, Coolmax, Thermolite, Elaspan, Supplex, Tactel, and Terathane. “We are thrilled to acquire The Lycra Company and will continue to invest in...

Management

Shandong Ruyi to create a stable of “affordable luxury” brands to compete against LVMH

China's apparel group Shandong Ruyi is determined to present fierce competition to the world’s largest luxury goods group, LVMH. The Chinese fashion conglomerate’s strategy is targeting more global deals involving "affordable luxury" brands, aimed to establish the first high-end Chinese fashion empire. Shandong Ruyi’s CEO, Qiu Yafu, told Reuters...

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Sir Philip Green considers selling Arcadia to Shandong Ruyi

Sir Philip Green may be considering sale of all or part of his Arcadia Group, reports The Sunday Times. The report added that the Topshop-owner is believed to be negotiating with Chinese textile major Shandong Ruyi. However, according to The Daily Telegraph, Frank Field, the chairman of the influential work and pensions select committee, is...

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Shandong Ruyi extends fashion portfolio with acquisition of Bally

London - Chinese textile and apparel giant Shandong Ruyi Group has acquired a controlling stake in luxury accessories and footwear label Bally International AG from JAB-Holding, as the company continues to build up its portfolio of fashion brands. Shandong Ruyi signed an agreement to purchase a majority stake in the Swiss label for an...

Management

Shandong Ruyi picks majority stake in Bagir

Bagir has announced that Shandong Ruyi Technology Group will be investing 16.5 million dollars in the company to acquire 54 percent of Bagir’s enlarged issued share capital. The company added that Chinese textile major will be a majority shareholder in the company and one or more director(s) will be nominated by Shandong Ruyi Group to join the...

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Invista sells Apparel & Advanced Textile business to Shandong Ruyi

London - Invista has agreed to sell one of its four major business units to Shandong Ruyi Investment Holdings, namely its Apparel and Advanced Textile business (A&AT). Shandong Ruyi, one of the largest textile manufacturers in China, is set to acquire Invista's A&AT business, which includes its global Lycra brand, through a stock transaction for...

ManagementFeatured

SMCP considers public listing on Euronext Paris

London - SMCP is currently mulling over a public listing in Paris, as the group continues to grow thanks to an increasing appetite for its accessible luxury brands Sandro, Maje and Claudie Pierlot. The group announced its intention for a potential listing of its shares on Euronext Paris Wednesday evening, adding that it has the support of its...

Management|UPDATE Featured

Shandong Ruyi signs deal to acquire SMCP

Shandong Ruyi has signed a deal which would see the Chinese textile company acquire a controlling stake in fashion group Sandro, Maje and Claudie Pierlot (SMCP), valued at an estimated 1.3 billion euros. Shandong Ruyi confirms acquisition of SMCP News of the impending deal broke earlier this week, Evelyne Chetrite, founder and managing director...

Management|UPDATE

KKR moves closer to selling SMCP to Shandong Ruyi

London - SMCP, the fashion group consisting of French fashion labels Sandro, Maje and Claudie Pierlot is inching closer to a potential sale to Chinese textile manufacturer Shandong Ruyi, in a deal which is said to value the group at 1.3 billion euros (1.45 billions US dollars), including debt. News of the possible sale comes as US private equity...

Business|UPDATE Featured