Home / Knowledge / News / Apparel/Garments / Apparel manufacturer Youngor Group walks on a tightrope
Apparel manufacturer Youngor Group walks on a tightrope
23
Feb '09
Real estate and equity investments, other than the garments business were once the cash cows of the Youngor Group, which delivered the highest profits. But as the adage goes, “What goes up, must come down”, with the decline of real estate and the stock markets, the fortunes have turned for the worse for the group.

The Youngor group has estimated to have lost tens of billions of Yuan and now is hanging on to a thin line bordering bankruptcy. These very two sectors which were considered as benchmarks for successful diversification of the group have now become like a noose hanging around the neck of the group.

In fact, experts say equity investments and real estate have turned in to a double jeopardy for the group, which use to derive around 50 percent of its profits from real estate dealings, the values of which have now nose dived to all time lows of the last few years, with the stock markets following the same trail.
.
The Youngor group started operations in the real estate markets in 1992 and as per relevant sources the land reserves touched 2,894,000 square meters in September 2008, with investments touching 13.1 billion Yuan, 8.5 billion Yuan higher than the amount divulged in the information provided by the Company.

In the first three quarters of 2008, Youngor generated a net cash flow of 908 million Yuan from operating activities, compared with 1.70 billion Yuan over the same period in 2007, a sharp drop of 46.82 percent year-on-year. The profits are expected to reduce further in the last quarter of 2008.

Domestic clothing sales of Youngor are in good shape and 2008 sales revenues is expected to reach 3.0 billion and expected to grow by around 20 percent in the next two years.

Fibre2fashion News Desk - China


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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