Shandong Ruyi Investment Holding, the Chinese textile and apparel group, has completed the acquisition of Invista's Apparel & Advanced Textiles unit and is making it into an independent subsidiary called The Lycra Company. The entity will continue to produce the chemicals, fibers and textiles for which it is known. Chief among these is Lycra, the spandex/elastane fiber invented in 1958. The trademarks purchased in the acquisition include Lycra HyFit, Lycra T400, L by Lycra, Coolmax, Thermolite, Elaspan, Supplex, Tactel and Terathane. The Lycra Company has eight factories, four research and development labs, about 3,000 employees and 17 offices in 14 countries, notably the Netherlands and the U.K. Its current leadership and staff will remain in place. Based in Jining, in the Chinese province of Shandong, Shandong Ruyi Investment Holding has recently acquired the luxury brands Aquascutum, Sandro, Maje, and Claudie Pierlot.

Topics