Chinese apparel and textile maker Ruyi Holding Group, which harbours ambitions of becoming the country’s answer to French luxury brands conglomerate LVMH Moët Hennessy Louis Vuitton, plans to list some of its assets in Singapore, according to chief strategy officer Kelvin Ho Cheuk-yin. The company, one of China’s biggest textile manufacturer, is controlled by Shandong tycoon Qiu Yafu and has been on an acquiring spree. It has a woollen clothing manufacturing listed unit in Shenzhen, as well as listed apparel production and distribution platforms in Tokyo, Paris and Hong Kong through businesses it has acquired since 2010. “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,” Ho said in an interview. “We hope to have a funding platform in suitable major capital markets, in different parts of the world, to gain better access to global investors.” Ho, however, did not provide details about lines of business or assets being considered for flotation. The Jining, Shandong province-based company has more than 20 subsidiaries in 11 countries, and more than 5,000 retail stores in 33 countries. China’s LVMH slows acquisition pace after US$4 billion global spree Ruyi is building “the world’s largest global, vertically integrated textile and fashion business”, according to the company. It has, since 2010, acquired for US$4.6 billion stakes in cotton farms in Australia, wool trading companies in New Zealand, a textile innovator in the United States as well as mid to high-end apparel brands and distribution companies in Japan, France, Hong Kong, Britain and Switzerland. Last month, it completed an about US$2 billion purchase of apparel fibre brands including Lycra, Coolmax and Thermolite from Invista, one of the world’s largest producers and a unit of US chemical giant Koch Industries. Ho said Ruyi aims to list these brands, which are now part of a new unit called The Lycra Company. “There is no concrete plan about the timetable and listing venue, but it will be one of the leading stock markets globally … these decisions will be made by its management,” he said, adding that the Nasdaq as well as Hong Kong were possible IPO destinations. In the coming year, Ho said, Ruyi will shift its focus from acquisitions to integrating its acquired businesses to realise synergies with its up- and downstream operations. Shandong Ruyi to take control of Victor Fung’s Trinity unit For instance, it plans to lease capacity from The Lycra Company and take over management of Ruyi’s 60,000 tonne-a-year spandex factory currently in an advanced stage of construction in Yinchuan, in the northwest Ningxia Hui autonomous region. Part of its capacity will be used to produce high-end spandex under the Lycra brand. “This will provide a growth driver for The Lycra Company, which has 90,000 tonnes of Lycra output capacity globally, while helping Ruyi’s plant upgrade its offering to higher-end and more lucrative products,” said Ho.