Home / Knowledge / News / Apparel/Garments / Japanese apparel firm to set up stores in China
Japanese apparel firm to set up stores in China
15
Jul '10
Struggling Japan-based garment manufacturer, Renown Inc. said next week it will get in to a joint venture with key Chinese textile company, Shandong Ruyi Science & Technology Group Co and thereby, launch over 2,000 stores in China in the next 10 years.

This venture with Chinese firm is likely to turn in to Renown's key shareholder and will be set up in February 2011. Renown will then take over stakes of 50 percent or more.

Minoru Kitabatake, President of Renown said that, they were optimistic about launching so many stores, especially citing the market size in China, which is bigger than that of Japan, more so, China's middle-income segment is likely to rise.

The joint venture will handle apparels from Renown's four key brands, with an aim of achieving sales of over 100 billion yen, via approximately 2,000 stores and also trade the garments in other Asian nations as well.

In its revenue report, for the period March – May, which was released early this week, Renown, which is as of now undergoing corporate analysis, had entered an operating profit of 1.32 billion yen on sales of 17.34 billion yen, both of which are around fifty percent of the respective amounts, registered in the same quarter last year.

Fibre2Fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harmeet Singh

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

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search