Shandong Ruyi: Difference between revisions
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Shandong Ruyi was founded as is in 2001.<ref name="CHINADAILY">[http://www.chinadaily.com.cn/a/201802/14/WS5a839992a3106e7dcc13cb26.html "Shandong Ruyi furthers global dreams with Bally buy"], Zhu Wenqian in Beijing and Ju Chuanjiang, ''[[China Daily]]'', February 14, 2018</ref> Qiu Yafu was chairman and president of Shandong Ruyi Science & Technology Group from August 2002 until August 2008, when he became only chairman.<ref name="CHAIR">[https://www.bloomberg.com/profiles/people/16162491-yafu-qiu "Yafu Qiu"], ''Bloomberg''</ref> He is also currently president of Shandong Ruyi Woolen Trextiles Group Co Ltd.<ref name="CHAIR"/> In 2010, it purchased a 41 percent stake in [[Renown (company)|Renown Inc.]], a Japanese apparel maker, for $36.8 billion, becoming its largest stakeholder.<ref name="CHINADAILY"/> |
Shandong Ruyi was founded as is in 2001.<ref name="CHINADAILY">[http://www.chinadaily.com.cn/a/201802/14/WS5a839992a3106e7dcc13cb26.html "Shandong Ruyi furthers global dreams with Bally buy"], Zhu Wenqian in Beijing and Ju Chuanjiang, ''[[China Daily]]'', February 14, 2018</ref> Qiu Yafu was chairman and president of Shandong Ruyi Science & Technology Group from August 2002 until August 2008, when he became only chairman.<ref name="CHAIR">[https://www.bloomberg.com/profiles/people/16162491-yafu-qiu "Yafu Qiu"], ''Bloomberg''</ref> He is also currently president of Shandong Ruyi Woolen Trextiles Group Co Ltd.<ref name="CHAIR"/> In 2010, it purchased a 41 percent stake in [[Renown (company)|Renown Inc.]], a Japanese apparel maker, for $36.8 billion, becoming its largest stakeholder.<ref name="CHINADAILY"/> |
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As of 2016, it also owned Hong Kong-based menswear group Trinity. Trinity Ltd was purchased for $283.88 million.<ref name="reuters.com"/> In December 2016, [[Aquascutum]], a British luxury clothing manufacturer, was due to be sold for $120m (£97m) to two buyers, one of which was Shandong Ruyi.<ref name="BBCaqua">{{cite web|url= |
As of 2016, it also owned Hong Kong-based menswear group Trinity. Trinity Ltd was purchased for $283.88 million.<ref name="reuters.com"/> In December 2016, [[Aquascutum]], a British luxury clothing manufacturer, was due to be sold for $120m (£97m) to two buyers, one of which was Shandong Ruyi.<ref name="BBCaqua">{{cite web|url=https://www.bbc.com/news/business-38404407|title=Raincoat maker Aquascutum sold for £97m|author=|date=22 December 2016|publisher=|accessdate=20 February 2018|via=www.bbc.com}}</ref> It was sold to Shandong Ruyi for $117 million.<ref name="reuters.com"/> |
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As of 2016, Shandong Ruyi owned the French company [[:fr:Groupe SMCP|SMCP]], owner of fashion brands [[Sandro]], {{ill|Maje (brand)|lt=Maje|fr|Maje}} and Claudie Pierlot.<ref name="reuters.com">{{cite web|url=https://www.reuters.com/article/bally-ma-shandongruyi/chinas-shandong-ruyi-expands-fashion-empire-with-bally-idUSL8N1PZ61T|title=China's Shandong Ruyi expands fashion empire with Bally|author=|date=9 February 2018|publisher=|accessdate=19 February 2018|via=Reuters}}</ref><ref name="drapersonline.com">{{cite web|url=https://www.drapersonline.com/news/shandong-ruyi-snaps-up-bally/7029005.article|title=Shandong Ruyi snaps up Bally|author=|date=|website=[[Drapers]]online.com|accessdate=19 February 2018}}</ref> It purchased the majority stake in SCMP in 2016 for £1.15 billion<ref name="GUARDIANgian"/> after six months of negotiations.<ref name="REUTERSnegotations">[https://www.reuters.com/article/us-scmp-m-a-china/chinas-shandong-ruyi-says-it-will-take-over-french-fashion-firm-smcp-idUSKCN0WY36W "China's Shandong Ruyi says it will take over French fashion firm SMCP"], [[Reuters]], March 31, 2016</ref> SMCP CEO [[Daniel Lalonde]] said that the investment would fund SMCP's growth overseas, particularly in Asia.<ref name="KKRSCMP">[https://www.nytimes.com/2016/04/01/business/dealbook/kkr-smcp-shandong-ruyi-china.html "K.K.R. Selling Stake in the Fashion Group SMCP to Shandong Ruyi of China"], Elizabeth Paton, ''The New York Times'', April 1, 2016</ref> SMCP was then taken public in 2017,<ref name="reuters.com"/> with Shandong Ruyi maintaining its stake.<ref name="">[https://www.reuters.com/finance/stocks/002193.SZ/key-developments/article/3673659 "French fashion group SMCP envisaging IPO by end-2017"], Reuters, September 18, 2017</ref> |
As of 2016, Shandong Ruyi owned the French company [[:fr:Groupe SMCP|SMCP]], owner of fashion brands [[Sandro]], {{ill|Maje (brand)|lt=Maje|fr|Maje}} and Claudie Pierlot.<ref name="reuters.com">{{cite web|url=https://www.reuters.com/article/bally-ma-shandongruyi/chinas-shandong-ruyi-expands-fashion-empire-with-bally-idUSL8N1PZ61T|title=China's Shandong Ruyi expands fashion empire with Bally|author=|date=9 February 2018|publisher=|accessdate=19 February 2018|via=Reuters}}</ref><ref name="drapersonline.com">{{cite web|url=https://www.drapersonline.com/news/shandong-ruyi-snaps-up-bally/7029005.article|title=Shandong Ruyi snaps up Bally|author=|date=|website=[[Drapers]]online.com|accessdate=19 February 2018}}</ref> It purchased the majority stake in SCMP in 2016 for £1.15 billion<ref name="GUARDIANgian"/> after six months of negotiations.<ref name="REUTERSnegotations">[https://www.reuters.com/article/us-scmp-m-a-china/chinas-shandong-ruyi-says-it-will-take-over-french-fashion-firm-smcp-idUSKCN0WY36W "China's Shandong Ruyi says it will take over French fashion firm SMCP"], [[Reuters]], March 31, 2016</ref> SMCP CEO [[Daniel Lalonde]] said that the investment would fund SMCP's growth overseas, particularly in Asia.<ref name="KKRSCMP">[https://www.nytimes.com/2016/04/01/business/dealbook/kkr-smcp-shandong-ruyi-china.html "K.K.R. Selling Stake in the Fashion Group SMCP to Shandong Ruyi of China"], Elizabeth Paton, ''The New York Times'', April 1, 2016</ref> SMCP was then taken public in 2017,<ref name="reuters.com"/> with Shandong Ruyi maintaining its stake.<ref name="">[https://www.reuters.com/finance/stocks/002193.SZ/key-developments/article/3673659 "French fashion group SMCP envisaging IPO by end-2017"], Reuters, September 18, 2017</ref> |
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Revision as of 09:50, 21 July 2018
| Formerly | Shandong Jining Woolen Mill |
|---|---|
| Industry | Textiles and clothing |
| Founded | 1972 in China |
Key people | Yafu Qiu (chair) |
| Brands | Bally, SMCP, Aquascutum, Renown Inc. |
| Parent | Jining Ruyi Investment Co., Ltd. |
Shandong Ruyi Technology Group Co., Ltd is a Chinese textiles and clothing company. Founded in 1972 in Jining, China, it is a subsidiary of Jining Ruyi Investment Co., Ltd.[1] As of 2017, Ruyi Group was the largest textile manufacturer in China.[2] It owns or part owns brands including Bally, SMCP, Aquascutum, and Renown Inc.
History
1972-2000
The company was founded in 1972, and was formerly known as Shandong Jining Woolen Mill, and is based in Jining, China. It is a subsidiary of Jining Ruyi Investment Co., Ltd.[1] Future chair Qiu Yafu became vice president in late 1992 of Shandong Ruyi Woolen Textiles Group Co Ltd, and president in late 1996. In late 1997 he then became chairman and president, roles he held until 2002.[3]
2001-2016
Shandong Ruyi was founded as is in 2001.[4] Qiu Yafu was chairman and president of Shandong Ruyi Science & Technology Group from August 2002 until August 2008, when he became only chairman.[3] He is also currently president of Shandong Ruyi Woolen Trextiles Group Co Ltd.[3] In 2010, it purchased a 41 percent stake in Renown Inc., a Japanese apparel maker, for $36.8 billion, becoming its largest stakeholder.[4]
As of 2016, it also owned Hong Kong-based menswear group Trinity. Trinity Ltd was purchased for $283.88 million.[5] In December 2016, Aquascutum, a British luxury clothing manufacturer, was due to be sold for $120m (£97m) to two buyers, one of which was Shandong Ruyi.[6] It was sold to Shandong Ruyi for $117 million.[5]
As of 2016, Shandong Ruyi owned the French company SMCP, owner of fashion brands Sandro, Maje and Claudie Pierlot.[5][7] It purchased the majority stake in SCMP in 2016 for £1.15 billion[8] after six months of negotiations.[9] SMCP CEO Daniel Lalonde said that the investment would fund SMCP's growth overseas, particularly in Asia.[10] SMCP was then taken public in 2017,[5] with Shandong Ruyi maintaining its stake.[11]
2017-2018
In November 2017, the company bought 54% of menswear supplier Bagir for $16.5 million.[7] In February 2018, Shandong Ruyi acquired a majority stake in the Swiss luxury fashion brand Bally from its parent company JAB Holding Company for an undisclosed sum.[5][7] At the time, Yafu Qiu was chairman of Shandong Ruyi Group.[5] As of February 2018, British billionaire Sir Philip Green was considering selling his Arcadia company to Shandong Ruyi.[8] As of 2017, Ruyi Group was the largest textile manufacturer in China.[2] As of 2018, it was also in the top 20 in terms of revenues for luxury fashion groups.[4]
Operations
As of 2018, most of its business was concentrated in the clothing industrial chain, including supplying yarn, fabric, raw materials, dying, weaving, sewing and production.[4] The company has operations in China, Japan, Australia, New Zealand, India, Pakistan, the United Kingdom, Germany, and Italy.[1] In 2017, Shandong Ruyi Technology Group said it would renovate a former television factory in Arkansas into its first facility in North America, in a $410 million project.[12] It was expected that Ruyi would absorb "almost all the cotton produced by Arkansas annually."[2]
References
- ^ a b c "Company Overview of Shandong Ruyi Technology Group Co.,Ltd". Bloomberg LP. Retrieved 19 February 2018.
- ^ a b c "Cotton woos Chinese textile giant to Arkansas", America.gov
- ^ a b c "Yafu Qiu", Bloomberg
- ^ a b c d "Shandong Ruyi furthers global dreams with Bally buy", Zhu Wenqian in Beijing and Ju Chuanjiang, China Daily, February 14, 2018
- ^ a b c d e f "China's Shandong Ruyi expands fashion empire with Bally". 9 February 2018. Retrieved 19 February 2018 – via Reuters.
- ^ "Raincoat maker Aquascutum sold for £97m". 22 December 2016. Retrieved 20 February 2018 – via www.bbc.com.
- ^ a b c "Shandong Ruyi snaps up Bally". Drapersonline.com. Retrieved 19 February 2018.
- ^ a b Butler, Sarah (18 February 2018). "Philip Green considers selling Arcadia to Chinese textiles giant". the Guardian. Retrieved 19 February 2018.
- ^ "China's Shandong Ruyi says it will take over French fashion firm SMCP", Reuters, March 31, 2016
- ^ "K.K.R. Selling Stake in the Fashion Group SMCP to Shandong Ruyi of China", Elizabeth Paton, The New York Times, April 1, 2016
- ^ "French fashion group SMCP envisaging IPO by end-2017", Reuters, September 18, 2017
- ^ "Chinese textile firm hiring up to 800 in east Arkansas", Fox News, Associated Press, May 10, 2017