Italian top costume Mazudu teamed with Youngor brand

Saomadu is one of the largest fashion groups in Italy. It owns top brands such as Valentino and Hugo Boss. Now the group is lowering its stake in the joint venture with Youngor, mainly in the transfer of the industry chain.

Yesterday, Youngor Group (600177) confirmed that the group had established a joint venture with Italian Mazuduo and Japan's Itochu Corporation to produce high-grade woolen fabrics, which may be used in the suit fabrics of Valentino and Hugo Boss top brands.

Saomado is one of the largest fashion groups in Italy, not only producing high-end fabrics, but also top brands such as Valentino and Hugo Boss. Japan's Itochu is a company engaged in multi-industry trading. The Youngor Group is one of the largest garment manufacturers in China and is a domestic A-share listed company.

The registered capital of the tripartite joint venture company is as high as 40 million U.S. dollars. The Yalgo Group has more than 50% of its controlling interest and also owns the company's management rights. “Zomaduo is mainly responsible for the technical aspects of the joint venture company. After all, its high-end woolen fabrics technology is leading in the world; and Itochu is mainly responsible for opening up the Japanese market.” Yu Cheng, deputy director of the Youngor Group office said.

Ma Zuodu lowered his own price and joint venture with Youngor, mainly in the transfer of the industrial chain, because China has a better industrial chain in terms of fabric production. Ma Zudu has been optimistic about the Chinese high-end wool textile market and the Japanese market for a long time. The company had two years of cooperation negotiations with several Chinese companies, but none of them succeeded.

Yu Cheng said that at present, the three parties have formally signed contracts. In the next year, Mazudu will send the first batch of technical personnel to Ningbo, and will provide technical guidance for the production of high-end woolen fabrics production factories with a total investment of 200 million yuan in Youngor. “Youngor's wool spinning equipment is no worse than Mazudu and other European and American companies, but in terms of technology, Youngor has a considerable gap with European and American countries, just like domestic companies.”

Yu Cheng said that the joint venture company will produce about 5 million meters of high-grade woolen fabrics. Apart from supplying high-end suits for young people, it will mainly export to European and American markets. "In the European market, we will use Mazuduo's perfect sales network to sell to local high-end garment manufacturers."

According to Yalgo Group sources, in addition to playing the Youngor brand, fabrics sold to Europe and the United States will be supplied to some of their clients by fabrics produced by Youngo Group, but the brand is playing Mazudo. “Mazoo’s own top-brand suits will also use the fabrics produced by Youngor, including Valentino and Hugo Boss, but it will also take a certain amount of time to run in.”

“The Youngor Group will use this joint venture to further expand its exports to the European and American markets and win the supply of fabrics for more high-end clothing production companies,” Yu Cheng said. At present, Youngor's existing European and American customers include British NEXT Corporation and American TOMMY, POLO and other brands. However, due to technical limitations, the amount of fabrics supplied to them is not large.

Youngor Nanjing Road opens its second flagship store

Yesterday, Youngor Group opened its second flagship store on the section of the former Zhongbao Silver Building of Nanjing East Road. The other flagship store of Youngor, which is only 100 meters away from the shop, will be withdrawn after two years.

Yalgo said that the property of the new flagship store belongs to the Yalgo Group, which was the Zhongbao Silver Building bought by the group at the end of 2003 for 150 million yuan, with an area of ​​nearly 6,000 square meters. "The size of the flagship store is about 1,300 square meters, and the rest of the property will be used for the office and rental of Youngor's Shanghai branch."

However, the new store and Youngor's other flagship store are only 100 meters apart. The latter is one of the largest flagship stores of the Yage Group in the country, covering an area of ​​4,800 square meters. It has been Younger's window in Shanghai and operates Youngor's mid to high-end products. Will the new and old stores cause conflict and overlap?

Yu Cheng, deputy director of the Youngor Group Office, said no. "After a period of operation, the flagship store in Manhattan Square will be misaligned with the new flagship store." He said that the new flagship store will operate as a boutique, mainly selling the brand's latest and most end-of-line clothing. Profitability is not The ultimate goal of the company. "The company is operating it as a window in the fashion capital of Shanghai."

According to Youngor’s relevant sources, after the new flagship store operations are on track, the flagship store of Manhattan Square will be adjusted and the sale of Youngor's discount clothing and middle and low clothing will not be ruled out.

Moreover, since the old store does not belong to the company, the lease expires in two years and the flagship store will exit Nanjing East Road. It is understood that the annual rent of this flagship store is as high as 7.5 million yuan.