Home / Knowledge / News / Apparel/Garments / Xin Ma Apparel to buy stakes of Shao in Youngor Group
Xin Ma Apparel to buy stakes of Shao in Youngor Group
08
Nov '11
Xin Ma Apparel International, a wholly-owned subsidiary of Youngor Group, plans to buy Shao International Limited's 25 percent stakes in 14 companies belonging to Youngor Group for 754 million yuan.

While, one of the companies is based in Chongqing, the rest 13 companies are situated in Ningbo.

Ningbo Youngor Apparel posted a net profit of 256 million yuan in 2010, the highest earning among the 12 of the 14 companies that recorded profits during the year.

The two companies that showed loss were Youngor Knitting Apparels, which made a loss of 1.94 million yuan, and Ningbo Youngor Knitting and Underwear, which made a loss of 262,400 yuan.

The combined net profit of the 14 companies stood at 927 million yuan in 2010, and it was 723 million yuan during January-September period of 2011.

The acquisitions will help Youngor Group to further boost its apparel business and to increase its total profits.

Xin Ma Apparel International was acquired by Youngor Group in 2007 from the US-based Kellwood Co.

Fibre2fashion News Desk - China


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search