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Shandong Ruyi wants to be the Chinese LVMH
2018/11/16 14:50:34 Source: Leatherbiz Author: 点击率:
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The chairman of Chinese group Shandong Ruyi, which earlier this year acquired a controlling stake in high-end accessory and footwear group Bally, has said his company wants to learn from the multibrand approach of luxury conglomerate LVMH and hopes to emulate its success in the future.

In a recent interview, Qiu Yafu said: “We understand there’s still a long way for us to reach there. We hope to make Ruyi a well-known Chinese equivalent of LVMH in perhaps 30, 40 or 50 years.”

Shandong Ruyi has made a series of high-profile investments in the past 18 months. As well as Bally, this has included Hong Kong-based apparel retailer Trinity and Israeli tailored clothing company Bagir. It has also agreed to pay a reported $2 billion for the advanced textiles (A&AT) business of polymer and fibre manufacturer Invista.

Mr Qiu has said Shandong Ruyi will now slow its acquisitions, instead focusing on integrating the brands it already owns. He added that it will only consider buying companies that are profitable and have high growth potential.

Returning to his aspiration to emulate LVMH, Mr Qiu pointed to the French group’s successful integration of brands while still preserving their individuality and market niches. He also wants to match LVMH when it comes to the quality of products Shandong Ruyi’s brands produce.

 

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