Roo Hsing had signed the deal to buy JD United back in 2015 for $388 million. The amount was raised on June 20, 2017, as per Taiwanese media reports.
The merger has led to the integration between the Taiwanese company’s investors based in Cambodia and Nicaragua and Chinese firm’s suppliers in Tanzania, China and Myanmar, said Hsu Chung-jung, vice president of Hsing.
The new supply chain of Roo Hsing will help the company cut costs and reduce waste.
Roo Hsing supplies jeans to multiple brands including Gap, Levi Strauss Uniqlo and H&M. (KD)
Fibre2Fashion News Desk – India
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