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Younger to generate higher profit with new acquisition
29
Jan '08
China's leading clothing enterprise Youngor Group recently announced its successful attainment of men's business of clothing with giant KELLWOOD, in the US. The transnational merger and acquisition involved a total amount of US $120 million, making it one of the largest overseas acquisition so far in country's garment industry.

KELLWOOD is one of the top five listed apparel companies in the US. Its men's business is concentrated in Hong Kong Xinma Group. On January 8, this year, Youngor completed delivery procedures of assets list of Xinma Group with KELLWOOD.

Till now, Youngor has acquired 14 production bases of Xinma Group, which are distributed in Sri Lanka, Philippines and Guangdong. With this, the company has become the world's largest production base of men's wear by owing an annual production capacity of $80 million.

According to market experts, the acquisition will help Youngor increase sales revenue by $360 million every year, generating a net profit of $12 million.

Industrial people believe that although Youngor will face risks of integration after the merger, it will greatly enhance its competitiveness in international and domestic market.

Fibre2fashion News Desk-China


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Courtesy: Business wire

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