Home / Knowledge / News / Textiles / Invista to sell apparel business to Shandong Ruyi
Invista to sell apparel business to Shandong Ruyi
30
Oct '17
Courtesy: Invista
Courtesy: Invista
Invista has entered into a definitive agreement with Shandong Ruyi Investment Holding to sell its apparel and advanced textiles (A&AT) business, one of Invista’s four major business units. Completion of the agreement, which includes Lycra brand, is subject to customary closing conditions including regulatory clearances from competition authorities.

Invista will retain ownership of its nylon, polyester, polyols and licensing businesses and related brands. This includes Invista’s world-leading nylon 6,6 intermediates business, its global nylon polymer and fibre portfolio, and widely recognized brands including Stainmaster, Antron carpet fibres and Cordura fabric. Invista will also retain its intellectual property rights for 1,4 butanediol, tetrahydrofuran and polytetramethylene ether glycol technologies and will continue to license these technologies on a global basis.

"The apparel business has always been a strategic and valued part of our portfolio," said Jeff Gentry, Invista chairman and chief executive officer. "We engaged the market because we want this business to be owned by the company that can create the greatest value for customers, employees and stockholders. In this case, we believe that Shandong Ruyi Investment Holding has the knowledge and capability that will enable this business to thrive the most and succeed over the long term."

"Invista’s world-class assets and consumer-recognised brands are a perfect fit for our growing portfolio of textile-related products," said Yafu Qiu, chairman of the board of Shandong Ruyi Investment Holding. "Over the decades, the Lycra brand has transformed the apparel industry, and continues to do so today. We are committed to taking this business to the next level through continued investment in innovation and the business’ portfolio of consumer-recognised brands. We also see opportunity to leverage Shandong Ruyi Investment Holding’s existing capabilities—including our spandex manufacturing assets—to further enhance A&AT’s position in the global marketplace."

"We look forward to intensifying our focus on the nylon value chain," Gentry added. "For nearly 80 years, we’ve delivered innovations to the nylon industry, including the most advanced adiponitrile technology in the marketplace. We have talented people with decades of know-how and you can count on Invista to continue building on this heritage of leadership and innovation."

"This change in ownership is an exciting time for the apparel & advanced textiles business as we look forward to continuing to develop our brands and broaden our capabilities and offerings to our customers. We look forward to working together with Shandong Ruyi Investment Holding to achieve our growth objectives now and into the future," Dave Trerotola, president of Invista A&AT, said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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


September 2018

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

news category


Related Categories:

Advanced Search