Ruyi Holding Group, China-based apparel and textile manufacturer, has expressed its ambitions of becoming the LVMH Moët Hennessy Louis Vuitton of China.
LVMH is a French multinational luxury goods conglomerate and Ruyi hopes to be China’s answer to LVMH.
The Group, controlled by Shandong tycoon Qiu Yafu, intends to list some of its assets in Singapore. This was confirmed by Kelvin Ho Cheuk-yin, Chief Strategy Officer, Ruyi Holding Group.
“We will seek opportunities for our assets to become publicly listed in a stock exchange in Southeast Asia, especially in Singapore, which is a very good capital market to explore.” – Kelvin Ho Cheuk-yin, Chief Strategy Officer, Ruyi Holding Group
He also added that the Group hopes to have a funding platform in suitable major capital markets in different parts of the globe so as to gain better access to global investors.
Since 2010, the company has spent US $ 4.6 billion on foreign acquisitions, which includes wool trading firms in New Zealand, cotton farms in Australia, textile innovator in USA and mid- to high-end clothing brands and distribution firms in France, Britain, Japan, Hong Kong and Switzerland.
