Asian tie-up promises bright future for Africa’s apparel industry
04/04/2019
The goal is to combine the logistics and manufacturing expertise of the Fung group with the textile production experience of the Ruyi group. Ruyi’s portfolio includes weaving, dyeing and tailoring operations. It also recently acquired the apparel and advanced textiles unit of Invista.
Victor Fung, chairman of Li & Fung, said Africa will become “a leading sourcing destination for the future”. He added that joining forces with Shandong Ruyi would allow it to “explore a market that holds such promise for our consumers”.
For his part, Yafu Qiu, chairman of the Shandong Ruyi board, said: “This partnership will allow us to create [in Africa] the largest and most comprehensive vertically integrated organisation in the textile/apparel sector.”
The areas the partners are targeting include denim, shirts, suits and general apparel.
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