China-based Shandong Ruyi, one of the leading textile and apparel companies, has completed the acquisition of Invista’s (the world’s largest integrated fibre company) Apparel & Advanced Textiles business.
The new company will run as The LYCRA Company, an independent subsidiary.
“We are fortunate to be purchased by Ruyi, a company that shares our vision and our commitment to delivering high-quality products, technical expertise, and unmatched marketing support to our valued customers,” said Dave Trerotola, Chief Executive Officer, The LYCRA Company.
The deal also includes 8 manufacturing facilities, four research and development labs, 17 offices located in 14 countries around the world, and approximately 3,000 employees.
“We are thrilled to acquire The LYCRA Company and will continue to invest in its innovation pipeline and brands in order to reach our objectives for business growth,” said Yafu Qiu, Chairman, Board of Shandong Ruyi.
Markedly, the Shandong Ruyi has acquired international luxury brands including Aquascutum, Sandro, Maje, and Claudie Pierlot since 2016.
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