Ruyi Holding Group, the Chinese apparel firm that’s taking over Bally International AG, will henceforth ease its M&A pace in the short to medium term. The company will focus on integrating existing brands instead. It will buy only those labels that are profitable and have high growth potential. The group will inject new, trendy elements into underperforming brands and boost their e-commerce offerings. It will invest more to revitalise labels owned by Hong Kong-listed unit Trinity, which controls British bespoke tailor Gieves & Hawkes. The company acquired Trinity in April 2018, surpassing billionaire brothers Victor and William Fung as the company’s biggest shareholder.
Ruyi also aims to complete its acquisition of Invista’s Apparel & Advanced Textiles unit, which owns the rights to materials including Lycra and Coolmax fibers, by year-end. It’s paying more than $2 billion to buy the business from Invista, which is an arm of Koch Industries Inc.
