Shandong Ruyi acquires INVISTA business
March 4, 2019
Shandong Ruyi Investment Holding, a Chinese textile and apparel company, has acquired INVISTA’s Apparel & Advanced Textiles business, a manufacturer of fiber and technology solutions for the apparel and hygiene industries.
The new company will operate as The LYCRA Company, named for INVISTA’s spandex/elastane fiber. The purchase includes a portfolio of consumer and trade brands: LYCRA®, LYCRA HyFit, LYCRA T400, L by LYCRA, COOLMAX, THERMOLITE, ELASPAN, SUPPLEX, TACTEL, and TERATHANE.
The Ruyi Group primarily focuses on textile offerings, with operations spanning from raw materials and textile processing to the design and sale of apparel. Since 2016, the group has acquired several international brands, including Aquascutum, Sandro, Maje and Claudie Pierlot.
The LYCRA Co. will be an independent subsidiary and have significant operations in various countries, including the U.K. and The Netherlands. The transaction also includes eight manufacturing facilities, four research and development labs, 17 offices located in 14 countries around the world, and approximately 3,000 employees. Current leadership and employees will continue in their roles with the new company.
The LYCRA Company, headquartered in Wilmington, Del. innovates and produces fiber and technology solutions for the apparel and hygiene industries, as well as specialty chemicals used in the spandex and polyurethane value chains.