View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 27, 2019

Itochu takes stake in Shandong Ruyi’s Lycra business

By Hannah Abdulla

Japanese conglomerate Itochu Group has announced an investment into Chinese textile firm Shandong Ruyi’s newly acquired business The Lycra Company.

Itochu, a capital alliance and business partner of Shandong Ruyi, did not disclose the size of the investments but said it would work with the group, which is one of the leading textile and apparel companies in China, to “further increase the corporate value of LYCRA and maximise collaborative synergies.”

Ruyi completed its acquisition of US-based fibre producer Invista’s Apparel and Advanced Textiles business (A&AT) – including its Lycra spandex/elastane brand, earlier this month. 

“Itochu regards its involvement in the acquisition of Lycra as an investment that will contribute to the improvement and enhancement of its portfolio of competitive materials; following on from its development of environmentally-friendly cellulose fibres in collaboration with the Metsa Group, and its recycled polyester business utilising technologies developed by Jeplan Inc,” the group said in a statement.

Related Companies

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Just Style