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Youngor Group CEO proves his prophecy right
02 May '12
2 min read
The centre of activity of the overall global textile industry will move to South-east Asia in the near future, a top official of China-based apparel producer - Youngor Group had said.
Now it seems the prophecy has turned right for the group. Youngor Group acquired a Vietnamese garment factory in Hanoi last year by investing US $4 million.
Youngor Group will produce shirts for the global export markets and if all goes well, may also expand capacity in future.
This move from Youngor is to transfer its production bases to countries, which still have low-cost production rates, than in Ningbo – China, where Younger is based.
Mr Li Rucheng, Chairman of Youngor had added, “The action could again move back to Europe. Since, the textile sector is a capital as well as a technology-intensive sector; we will need to maintain our cost competitiveness”.
Li Rucheng began the journey of developing a large-scale enterprise from a small factory that was facing bankruptcy in 1982 and his Youngor Group was named one of the “Top 100 Chinese Companies” in 2008.
Garment manufacturing and marketing is the core business of the Youngor Group. After 30 years' development, the Group has become a vertically integrated business in textile and garment manufacturing.
Now it seems the prophecy has turned right for the group. Youngor Group acquired a Vietnamese garment factory in Hanoi last year by investing US $4 million.
Youngor Group will produce shirts for the global export markets and if all goes well, may also expand capacity in future.
This move from Youngor is to transfer its production bases to countries, which still have low-cost production rates, than in Ningbo – China, where Younger is based.
Mr Li Rucheng, Chairman of Youngor had added, “The action could again move back to Europe. Since, the textile sector is a capital as well as a technology-intensive sector; we will need to maintain our cost competitiveness”.
Li Rucheng began the journey of developing a large-scale enterprise from a small factory that was facing bankruptcy in 1982 and his Youngor Group was named one of the “Top 100 Chinese Companies” in 2008.
Garment manufacturing and marketing is the core business of the Youngor Group. After 30 years' development, the Group has become a vertically integrated business in textile and garment manufacturing.
Fibre2fashion News Desk - India
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