Shandong Ruyi Technology Group Co. Ltd
Shandong Ruyi Technology Group Co. Ltd. is a Chinese textile and clothing manufacturing giant with a significant interest in Europe.
Shandong Ruyi owns a controlling stake in the Swiss clothing and leather brand Bally and also heads SMCP, the parent company of a range of affordable luxury brands that include Claudie Pierlot, Maje and Sandro. Shandong Ruyi also owns Aquascutum and Renown Inc.
About Shandong Ruyi Technology Group Co. Ltd
Shandong Ruyi Technology Group Co. Ltd. is a Chinese textile and clothing manufacturing giant with a significant interest in Europe. Shandong Ruyi owns a controlling stake in the Swiss clothing and leather brand Bally and also heads SMCP, the parent company of a range of affordable luxury brands that include Claudie Pierlot, Maje and Sandro. Shandong Ruyi also owns Aquascutum and Renown Inc.
Originally founded in 1972 as Shandong Jining Woollen Mill in Jining, China, Shandong Ruyi was a subsidiary of Jining Ruyi Investment Co. Ltd. Shandong Ruyi was officially founded in 2001. Although Shandong Ruyi started operations mainly in the textile manufacturing industry. it has since expanded its services and products to include clothing. As in 2018 most of Shandong Ruyi’s business is focused on supplying a complete range of products and services to the industrial clothing chain.
As in 2017, Shandong Ruyi was considered as the largest textile manufacturing company in China and as in 2018, it became one of the country’s top 20 luxury fashion groups in regards to generating revenue. The company also has operations and subsidiaries across Europe in countries like Italy, Germany and the United Kingdom, and in Japan, New Zealand, Pakistan, India and Australia. The company is expecting to expand operations to include the United States with a factory in Arkansas.
In 2010 the company acquired a 42% stake in the Japanese apparel maker Renown Inc. for US$36 billion, and so became its largest stakeholder. In 2016 Shandong Ruyi bought the Hong Kong menswear group Trinity for US$283.88 billion and also bought SMCP for £1.15 billion. SMCP is a French clothing manufacturing company that owns the fashion brands Claudie Pierlot, Sandro and Maje. Later that year Shandong Ruyi also bought the British luxury clothing manufacturer Aquascutum for US$117 million. Aquascutum has been operating in London since the 1850s and is known for producing luxury raincoats worn by film stars, royalty and politicians like Cary Grant, Queen Mother, John Major and Margaret Thatcher. In 2017 they bought a controlling stake in Bagir, a menswear manufacturer, for US$16.5 million. In early 2018 Shandong Ruyi further expanded its European presence by acquiring majority shares in Bally, a Swiss luxury fashion brand. The shares in Bally were acquired for an undisclosed sum from JAB Holding Company.
Shandong Ruyi in the News
In 2017 Shandong Ruyi announced that it would launch its first facility in the United States by renovating a large factory in Arkansas that was previously used for manufacturing televisions. According to the clothing giant, operations would involve spinning cotton into yarn for textile use. The factory would create around 800 jobs and the company could absorb almost the entire stock of cotton produced by the state every year going forward. In early 2018 it was announced that Sir Philip Green is considering selling Arcadia, which consists of top brands like Topshop, Topman and Burton, to Shandong Ruyi, who is reportedly on a ‘buying spree’ in Europe. According to The Guardian as in February 2018, the potential buyer was still looking at the financials and Sir Philip declined to comment.