×
3 583
Fashion Jobs
FRASERS GROUP
Information Security Governance Analyst
Permanent · SHIREBROOK
L'OREAL GROUP
l'Oreal Luxe Multibrand Retail Account Manager
Permanent · London
COTY
National Account Manager
Permanent · London
TK MAXX
Loss Prevention Officer-tk Maxx High Street Kensington-Full Time
Permanent · London
HARRODS
Uniformed Security Officer - Thatcham Distribution Centre
Permanent · THATCHAM
HARRODS
Senior CRM Retention Executive
Permanent · LONDON
JOHN LEWIS
Section Manager Stock And Inventory – Nights
Permanent · BLETCHLEY
SELFRIDGES
HR Administrator (Part-Time)
Permanent · ENDERBY
SELFRIDGES
Digital Personal Shopping Content Manager
Permanent · LONDON
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · POOLE
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
ZARA
Zara High Wycombe - General Manager
Permanent · HIGH WYCOMBE
HEAD OFFICE
Senior Finance Analyst, Commercial Finance
Permanent · BRACKNELL
JOHN LEWIS
Section Manager Stock And Inventory – Nights
Permanent · BLETCHLEY
HOUSE OF FRASER
Loss Prevention Supervisor - House of Fraser
Permanent · READING
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · CAMBRIDGE
BERSHKA
New Position - Bershka Operations Manager - Stratford
Permanent · LONDON
AVON
Internal Audit Manager Natura &CO
Permanent · LONDON
COTY
Trade Marketing Manager
Permanent · London
JOHN LEWIS
Section Manager Customer Delivery Hub
Permanent · LONDON
FLANNELS
Beauty Brand Manager – Pat Mcgrath Labs
Permanent · ROTHERHAM
CLAUDIE PIERLOT UK
Stock Contoller - Permanent - Selfirdges London
Permanent · LONDON
Published
Sep 3, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shandong Ruyi's struggles continued in H1

Published
Sep 3, 2021

Shandong Ruyi, the giant Chinese group that owns a raft of European brands, continued to struggle in the first half. Its turnover dropped 20.43% year-on-year with the clothing category down 44.67% and the share of revenue it accounted for dropping from 76.57% to 53.24%.


Kent & Curwen



Total revenues fell to CNY261 million (€34.1 million) while the net loss widened by 393% to CNY44.75 million (€5.85 million).

The company, which is also a textile and raw materials producer/trader, owns fashion businesses including SMCP, Gieves & Hawkes, Kent & Curwen and Cerruti 1881. It also owns Lycra.

As mentioned, clothing saw a drop of almost 45% and this was the biggest fall of all its business lines. It gross margin also fell 12%. The is a huge problem for the group as clothing is its largest division.

The company declared its ambition some years ago to become the LVMH of China but it has struggled in that goal and continues to operate with a heavy debt load and under increased regulatory scrutiny in China.

Late last year it defaulted on two CNY1 billion bonds. The privately-held company took on extra debt following a series of acquisitions in recent years to buy many of those brands that it now owns.

Copyright © 2023 FashionNetwork.com All rights reserved.