Home / Knowledge / News / Textiles / Youngor Group may concentrate on core textile business
Youngor Group may concentrate on core textile business
24
Feb '09
The Youngor Group, other than its core activity of textiles and garments, had diversified in to different sectors like real estate and finance in the last few years. But with the unveiling of the economic crisis, both these sectors suffered the maximum damage leading to massive losses for the group.

The Youngor group generated maximum profits for the group from its activities in real estate and finance. The group is supposed to have a lot of land holdings, throughout Ningbo, Suzhou, Hangzhou and Shaoxing and also a lot of investments in the stock markets.

But the economic meltdown has brought the value of investments and profits in both the sectors crashing down sharply in the last few months. In the first three quarters of 2008, it generated a net cash flow of 908 million Yuan, a sharp drop of 46.82 percent year-on-year. The profits are expected to reduce further in the last quarter of 2008.

This has led experts from the industry to believe that the group will now concentrate more on its core activities in textiles and garments, in which it still holds good control and at the same time exit or reduce its exposure gradually from the real estate and stock market activities in 2009.

Fibre2fashion News Desk - China

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

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

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

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

Marcel Alberts
Eurofibers

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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