RE: Ruyi6 Sep 2018 14:13
hinese textiles group Shandong Ruyi has outlined its acquisition strategy, saying it aims to develop “the LVMH of China”.
In a statement the group said “it plans to continue to look for suitable acquisition targets in accord with its development direction, which is to focus on developing business in relation to its core business pursuits. Its aim is to develop into the “LVMH group of China”,’ – a reference to the French-based luxury conglomerate, which owns Louis Vuitton, Christian Dior and Givenchy among many others.
The Chinese business, which has a vertically integrated manufacturing arm ranging from wool and cotton production through to a high-tech garment manufacturing business, outlined the kinds of fashion brands it is interested in acquiring in the future.
“Ruyi has positioned itself as the largest holding group of global fashion brands with manufacturing capability. It has a clear brand development roadmap. The brands it is to acquire have to be aligned with its corporate development strategy and positioning, have a close link with the capital market, boast good development and high growth prospects, plus be well-loved and recognised by consumers, able to sway fashion trends and superb in design,” it said.
The business has been snapping up European brands of late.