HONG KONG – (ACN Newswire) – Ruyi Group, a leader in China’s textile and apparel industry and a fully integrated enterprise with a portfolio of world-renowned brands, and DBS, the leading financial service group headquartered in Singapore, have signed a Strategic Collaboration Framework Agreement to further strengthen their long-term business relationship for multi-faceted strategic cooperation.
On the back of more than five years of cooperation with Ruyi Group, DBS will continue to provide comprehensive financial services to support Ruyi Group’s future strategic developments, and to facilitate the Group in seizing business opportunities through the provision of funding support and investment banking services. Moreover, DBS will fully utilise its experience and strengths in Singapore capital market, including but not limited to bond issuance, initial public offering, etc, to actively assist Ruyi Group in achieving the optimum global strategic asset distribution and forging a firm connection with capital market in Singapore.
Ruyi Group tops its peers in China’s textile and apparel industry in overall competitiveness and has established an extensive presence in the US, Europe and North Asia. The strategic partnership with DBS will further strengthen its foothold, particularly in Southeast Asia, and complement its global strategic development.
Speaking at the signing ceremony, Yafu QIU, Chairman of Ruyi Group, said, “Southeast Asia has always been one of our strategic markets and we are delighted to reinforce our strategic alliance with DBS today. DBS’ strong network, business knowledge and excellent product platform across the full financial services value chain can provide comprehensive support to Ruyi Group from a financial perspective and help us to continue integrating global resources and achieving sustained business growth.”
CEO of DBS, Piyush GUPTA said, “Being the largest bank in Singapore, DBS will provide full banking services to support Ruyi Group’s internationalisation. We are delighted to see the fast growing development of Ruyi Group, and we look forward to further strengthening our cooperation.”
Mr. Yafu QIU, Chairman of Ruyi Group, Mr. Piyush GUPTA, CEO of DBS Group and Mr. Boon Chye LOH, CEO of Singapore Exchange have been present in the signing ceremony in Singapore.
About Ruyi Group
Ruyi Group tops its peers in China’s textile and apparel industry in terms of overall competitiveness and it is also a world-famous brand holding group focusing on the accessible luxury segment. Since its founding in 1972, Ruyi Group has committed to building a textile and apparel industrial chain guided by its “high-end, scientific, brand-oriented, and internationalization” strategy. Currently, the Group leads the world in fabric technology and intelligent manufacturing and owns the most comprehensive textile and apparel industrial chain in the global accessible luxury product segment. In recent years, Ruyi Group has, through acquisitions followed by successful integration of the resources acquired, brought under its name more than 30 international fashion brands from France, the UK, Japan, etc., such as Sandro, Maje, Claudie Pierlot, Aquascutum, Cerruti1881, Gieves & Hawkes, Kent & Curwen, Durban, etc.
The Group also owns listed companies including Euronext Paris-listed SMCP, Trinity Group listed in Hong Kong, Renown Incorporated listed on the main board of Tokyo Stock Exchange and A-share listed company Ruyi Woolen Textile. To date, the Group has over 6,000 shops operating in 81 countries and regions, with over 50,000 employees globally, making it one of the most influential Chinese companies in the global fashion world.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is operating in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
Strategic Financial Relations Limited (PR of Ruyi Group)
Veron Ng / Stephanie Liu
Tel: +852 2864 4831 / +852 2864 4852