Shandong Ruyi

The Chinese apparel group is looking to publicly float the textile business following its weak financial performance.

Despite a stronger recovery than most, China is not immune from the economic pain of the pandemic. Are global brands ready for the challenges that China’s ‘new normal’ will bring?

The group remains optimistic about a growth in sales following a rise in third-quarter revenue by 10.8 percent to €274.5 million from last year.

First-quarter sales rose to €274.6 million ($306.4 million), up 9 percent from the previous year.

Chinese backers have snapped up distressed European fashion labels hoping to tap the country’s millions of heritage-hungry millennials. But things haven’t always gone to plan.