Two industry giants, Yue Yuen Industrial (Holdings)
Limited and Luen Thai Holdings Limited , have formed a strategic alliance with the objective to explore the promising sports apparel market.
The joint venture, Yuen Thai Industrial Co. Ltd, which is 50% owned by Yue Yuen and Luen Thai respectively, will focus on the development of sports apparel in the global market. While Yue Yuen, the worlds largest branded athletic footwear manufacturer, will leverage its close contacts with international sports brands to expand its brand services to the apparel category. Luen Thai, a supply chain services provider for the apparel sector, will leverage its manufacturing and supply chain platform to sports apparel market.
At the commencement of the joint venture, Yuen Thai will serve the apparel supply chain for the international sports brands. The Company will engage in design, product
development, manufacture as well as information technology and logistics management. Yuen Thai targets to become one of the largest apparel suppliers in this sector within the next few years.
Commenting on the formation of Yuen Thai, Mr. Edward Ku, Executive Director of Yue Yuen, said, “We are most honored to have such opportunity to collaborate with Luen Thai, the worlds leading apparel supply chain services provider. The collaboration once again reinforces our strategy of expanding our product range and market share into apparel regime. With our long history and understanding in working with our customers and manufacturing and supply chain expertise in the apparel regime offered by Luen Thai, we are confident in providing the best service to our customers.”
Henry Tan, CEO of Luen Thai, said, “With Luen Thais over twenty years of experience in the apparel fashion industry and Yue Yuens expertise in the footwear manufacturing
sector, Luen Thai has the conviction to step forward to the sports and active wear regime where it has been previously less attended in. Through Luen Thais fashion
design and product development capability, Yuen Thai adds fashion element into the traditional sports-active wear business. The joint venture is in line with our overall
expansion strategy of developing multi-product capabilities in the apparel sector.”
