The corporate website articulates RUYI’s philosophy through three central themes: technology, fashion and sustainability, encapsulated by the slogan “Setting today’s standards with tomorrow’s vision.”1

The name Ruyi (如意) is a Chinese expression generally signifying “as one wishes”, “according to one’s wishes” or “auspiciousness”. It is also associated with the traditional ruyi sceptre, a cultural object symbolising good fortune and the fulfilment of desires. Due to this positive cultural resonance, the name has been adopted by various unrelated Chinese enterprises and should not be considered exclusive to Shandong Ruyi.

1972–2000: Textile origins

RUYI’s history commenced in 1972 when the predecessor to Shandong Ruyi was established as the Shandong Jining Woolen Mill in Jining, Shandong. The original enterprise focused on wool textiles and garment manufacturing.3

During its early decades, the company developed specialised expertise in:

• Wool spinning
• Worsted fabrics
• Weaving
• Dyeing and finishing
• Textile manufacturing
• Men’s clothing

This foundation in textile manufacturing remained central to the group’s identity even as it later pursued international fashion acquisitions.

1990s: Expansion under Qiu Yafu

A pivotal figure in RUYI’s development was Qiu Yafu (邱亚夫), who joined senior management in the 1990s and became chairman of the group’s fashion and textile operations.3 Under his leadership, RUYI shifted its strategic focus from commodity textile production towards higher-value fabrics, advanced manufacturing and branded fashion.4

2000s: Vertical integration

In the early 2000s, RUYI expanded its corporate structure and increased investment in technology and international operations. The company adopted a vertically integrated model, seeking to control multiple stages of the supply chain rather than specialising in a single production phase. RUYI describes this approach as a wool- and cotton-based integrated chain covering activities from raw-material sourcing and spinning through to weaving, dyeing, printing and garment manufacturing.1 This vertical integration became a defining characteristic of the group.

During the 2010s, RUYI pursued an aggressive international expansion strategy, moving beyond exporting Chinese-made textiles to acquiring stakes in established foreign companies and fashion houses.

Renown

Beginning in 2010, RUYI acquired a significant stake in Renown Inc., a Japanese apparel company, providing exposure to an established Japanese fashion and retail business.3

Trinity Limited

RUYI also acquired control of Trinity Limited, a Hong Kong-listed premium menswear group. At various points, Trinity’s portfolio included internationally recognised names such as Cerruti 1881, Gieves & Hawkes, Kent & Curwen and D’Urban.

SMCP

One of RUYI’s most significant international investments was SMCP, the French fashion group behind Sandro, Maje and Claudie Pierlot. RUYI acquired a controlling interest in SMCP in 2016, gaining substantial exposure to the international “accessible luxury” segment.1

Aquascutum

The group also acquired the British heritage fashion label Aquascutum, founded in London in 1851, further diversifying its international fashion portfolio.1

In the late 2010s, RUYI attracted considerable international attention due to its ambition to create a Chinese equivalent of LVMH. The underlying strategy combined Chinese textile manufacturing and advanced technology with international fashion brands and global retail networks. The company accumulated interests in brands and companies across China, Japan, France, Britain, Switzerland and other markets, aiming to build a global fashion ecosystem.4

At the peak of its expansion, RUYI was associated with a portfolio of more than 20 international brands and thousands of retail locations worldwide.4

RUYI’s historical portfolio has included or been associated with numerous international names:

It is important to distinguish historical ownership from current ownership. Following debt-related difficulties, RUYI’s international fashion portfolio underwent significant restructuring, with some assets subsequently sold, transferred or placed under different ownership. For example, RUYI’s acquisition of the former Invista Apparel & Advanced Textiles business created The Lycra Company, but ownership of that entity was transferred to an investment group in 2022 due to RUYI’s financial challenges.3

Despite its high-profile fashion acquisitions, RUYI’s foundational strength remains textile manufacturing. The company operates an integrated production model spanning raw materials, spinning, weaving, dyeing, finishing, fabric production and garment manufacturing. This enables RUYI to function as both a fashion retailer and a manufacturer-supplier within the textile value chain.1

Its wool business has been particularly significant, producing high-quality worsted wool and wool-blended fabrics for suits and other garments. Manufacturing operations have also included OEM, ODM and made-to-measure men’s tailoring services.5

Technology constitutes a core pillar of RUYI’s corporate identity. The company has invested extensively in:

• Textile research and development
• Intelligent manufacturing
• Automated production
• Advanced spinning and weaving
• Dyeing and finishing technologies
• Fabric development
• Integrated production systems
• Digital manufacturing

RUYI states that its intelligent-manufacturing approach applies advanced equipment across the numerous processes involved in transforming raw materials into finished clothing.1 Fundamentally, RUYI originated as a textile-manufacturing group that later expanded into branded fashion, rather than as a fashion-label company.

RUYI’s fashion strategy has historically relied on combining Chinese industrial capabilities with established Western and Asian fashion brands. Rather than repositioning acquired labels with a Chinese aesthetic, the group generally allowed individual brands to retain their existing identities. For instance, Sandro and Maje continued to represent Parisian contemporary fashion, Aquascutum maintained its British heritage positioning, Cerruti 1881 remained identified with European luxury menswear, and Renown preserved its Japanese apparel heritage. This approach resulted in a diversified international brand portfolio rather than a homogeneous fashion identity.

At the height of its expansion, RUYI reported a brand network comprising thousands of stores across dozens of countries and regions. Corporate materials have described a network of more than 6,000 stores in over 80 countries and regions, although these figures reflect the group’s broader historical portfolio and should not be interpreted as a current store count for every RUYI-owned business.41

The group’s international activities have extended across China, Japan, Europe, Australia, New Zealand, North America and other international textile and fashion markets.

RUYI’s rapid international expansion was accompanied by substantial borrowing and financial commitments. Difficulties became increasingly visible around 2019–2020, when debt pressures, challenges surrounding certain acquisitions and the COVID-19 pandemic placed significant strain on the group.3

A prominent example involved the former Invista Apparel & Advanced Textiles business, which RUYI acquired in 2019 in a transaction reported at more than US$2 billion. Although the business subsequently became The Lycra Company, RUYI’s financial problems eventually contributed to a change in ownership.3 Consequently, RUYI represents a notable case study in the fashion industry: a company that successfully assembled an extensive international acquisition portfolio but subsequently encountered significant financial and restructuring challenges.

RUYI’s corporate website organises its identity around three primary pillars:

Technology

The company presents itself as a technologically advanced textile manufacturer, emphasising R&D and intelligent manufacturing.

Fashion

RUYI positions its international brand portfolio as a bridge between Chinese manufacturing capabilities and global fashion.

Sustainability

The group incorporates sustainability and environmental responsibility into its long-term development strategy.1

Its corporate slogan is: “Setting today’s standards with tomorrow’s vision.”1

RUYI holds significance in the global fashion landscape for several reasons:

Illustrating China’s ascent in the textile value chain

Historically associated with large-scale garment manufacturing, China’s textile sector has sought to move upmarket. RUYI exemplified this shift by pursuing premium fabrics, technology, branded apparel and luxury fashion.

Pursuing global acquisitions

Rather than building fashion brands from scratch, RUYI purchased established companies with existing histories, customer bases and distribution networks.

Combining manufacturing and fashion

Unlike traditional luxury groups that focus primarily on design, branding and retail, RUYI retained deep roots in actual textile production, distinguishing it from many fashion-focused conglomerates.

Demonstrating the risks of rapid consolidation

While its aggressive acquisition strategy created a vast international portfolio, the associated debt and financial pressures highlighted the risks inherent in rapidly constructing a global luxury conglomerate.3

RUYI Group lists its headquarters at:

Ruyi Mansion
No. 72 Guanghe Road
Jining, Shandong, China

The company’s official website identifies the legal corporate name as Shandong Ruyi Technology Group Co., Ltd.1

Searches for “RUYI” may yield results for unrelated organisations. Key distinctions include:

Shandong Ruyi

Textiles, apparel and fashion — the subject of this article.

Ningbo Ruyi / XILIN

A separate Chinese company specialising in forklifts, pallet trucks and logistics equipment. Its own corporate history identifies it as a logistics-equipment manufacturer.6

RUYI London

A London-based womenswear label founded and designed by Abi Imasekha and Greta Matusaite, with no connection to Shandong Ruyi.2

RUYI / 儒意 skincare

A Chinese skincare and personal-care brand established in 2019, also unrelated to the textile conglomerate.

For clarity, the full legal name Shandong Ruyi Technology Group Co., Ltd. is the most precise identifier for the fashion and textile company.

RUYI is fundamentally a Chinese textile-to-fashion conglomerate. Its trajectory can be summarised as follows:

• 1972: Established as a woolen textile manufacturer in Shandong.
• 1990s–2000s: Developed manufacturing capabilities and textile technology.
• 2010s: Pursued aggressive international expansion.
• 2010s: Acquired and invested in major fashion companies and brands.
• Late 2010s: Sought to become a Chinese global luxury-fashion powerhouse.
• 2019–2022: Encountered heavy debt and acquisition-related difficulties.
• 2020s: Underwent restructuring, asset disposals and complex ownership changes.

RUYI is best understood as a textile and fashion group rather than a single fashion brand. Its historical importance lies in its attempt to transform a Chinese textile manufacturer into a global fashion conglomerate.1

1. Home – Ruyi Group
2. ruyi Designer Brand & Products | NOT JUST A LABEL
3. Shandong Ruyi
4. Chairman of Ruyi Fashion Holding Group, Qiu Yafu speaks at the New York Times International Luxury Conference
5. Shandong Ruyi Woolen Garment Group Co., Ltd | LinkedIn
6. History- Ningbo Ruyi Joint Stock Co.,Ltd.