Shandong Ruyi Investment Holding acquires INVISTA’s Apparel & Advanced Textiles
Date Posted: Friday 1st February 2019
Chinese textile and apparel company, Shandong Ruyi Investment Holding, has announced its acquisition of INVISTA’s Apparel & Advanced Textiles business and will now operate as The LYCRA Company. The transaction includes all associated assets and contracts.
The new company will operate as The LYCRA Company, an independent subsidiary, and will continue to manufacture advanced fiber and technology solutions for the apparel and hygiene industries. The LYCRA Company is named for LYCRA fiber, the original spandex/elastane fiber and the company’s best-known product. The purchase includes a robust portfolio of highly respected consumer and trade brands: LYCRA, LYCRA HyFit, LYCRA T400, L by LYCRA, COOLMAX, THERMOLITE, ELASPAN, SUPPLEX, TACTEL, and TERATHANE.
The LYCRA Company will start as a fully operational subsidiary of Ruyi Group, with significant operations in various countries, among others the UK and the Netherlands. The transaction also includes eight manufacturing facilities, four research and development labs, 17 offices located in 14 countries around the world, and approximately 3,000 employees. Current leadership and employees will continue in their roles with the new company.
The Ruyi Group primarily focuses on textile offerings with operations spanning from raw materials and textile processing, to the design and sale of apparel. Since 2016, the group has acquired several international luxury brands including Aquascutum, Sandro, Maje, and Claudie Pierlot.