Samsung enters the textile industry

Samsung enters the textile industry There has been such a jingle, "It's better to sell broiled eggs than to get razor blades." The original meaning was used to describe "brain body upside down." However, South Korea's electronics giant Samsung Group, they are willing to under the "coolies" do not sell mobile phones but come to weaving cloth?

Yesterday, the reporter learned from the Foreign Economic Relations and Trade Commission that the Korean electronics giant Samsung Group and Shandong Ruyi Group have cooperated and invested 21.5 million US dollars to enter the textile industry in Chongqing.

Shen Yu Wang Guoguo analyst Li Yu believes that Samsung's entry into the textile industry in Chongqing may be fancy for a few years, clothing prices, and mobile phones and other electronic products, interest rates are gradually falling.

Wanzhou made a city to enter the textile industry

According to the foreign economic and trade committee, South Korea’s Samsung Group has reached a cooperation agreement with Shandong Ruyi Group to create a western textile city in Wanzhou and enter the textile industry in the main city.

The cooperation between the two parties is to set up Chongqing Three Gorges Technology Co., Ltd. in Wanzhou District with a registered capital of 443.75 million yuan, of which Samsung Group invests 21.5 million U.S. dollars (about 150 million U.S. dollars) and a total investment of 1.33 billion yuan to produce and sell textile products. The annual output value is 3 billion yuan***.

"Once the project is started and put into production, it will promote and promote local people's employment and promote the economic development of the reservoir area." Foreign Economic and Trade Commission said.

Shandong Ruyi relevant person in charge said that the joint venture project consists of three parts, namely, 250,000 spindle compact spinning project, 50 million meters Ruyi spinning fabric project and 10 million sets of Ruyi spinning garment project. After completion of the project, it will form the largest textile industrial chain base in the western region and achieve sales revenue of 10 billion yuan.

According to the plan, West Textile City will eventually become a large “textile kingdom” that includes a production base, a technology research and development center, a trade center, a logistics center, and a life service center. The total planned investment is as high as 15 billion yuan, which is expected to be in the 12th Five-Year Plan period. All investment projects were completed during the period. By then, the textile city will become a distribution center for textile commodities in the areas of Sichuan, Shaanxi, Hubei, Hunan and Chongqing.

Samsung Weaving Mapped Gaoke Helplessness

In the eyes of many people, South Korea’s Samsung is a world-class electronics giant. Mobile phones, laptops, and memory sticks are widely known.

"Actually, South Korea's Samsung is a comprehensive enterprise group and it is involved in other industries in addition to electronics, laptops, and mobile phones." The Foreign Economic and Trade Commission said that the investment was completed by its subsidiary, Samsung.

"After the West Textile City is put into production, apparel products will enter the sales network of Samsung's products." Foreign Economic and Trade Commission said.

According to Li Yu, an analyst of Shenyin Wanguo, South Korea’s Samsung’s selection of the textile industry as its “first battle” for Chongqing is behind the sudden change in prices in the apparel industry in recent years.

The reporter learned from some shopping malls in Chongqing that some clothing store prices have risen by tens of yuan to over one hundred yuan this year, and some high-end brands have risen by 20% from last year.

The reporter noted that in recent years, clothing prices have spread like tides to various places, from south to north, from east to west, from adults to children, from underwear to coat.

“In addition to staff costs, another factor contributing to the increase in apparel sales prices this year is that the price of cotton has remained high, so that the prices of raw materials such as cotton yarn and cotton cloth that are most closely linked with clothing have skyrocketed.” Li Yu believes that the latest listings of apparel companies Some published financial reports and other data prove the reality of the rising clothing prices.

“And the price of electronic products is just the opposite. For example, after a new mobile phone, the price of a new mobile phone has always been declining. It is impossible to rise and there is very little price increase.” Li Yu said that although it belongs to the high-tech industry, the mobile phone industry The profits are not necessarily higher than textiles. In particular, the price of textile products has been rapidly increasing in recent years, and for upstream manufacturers, it can increase profitability.

Women Bra

We are a professional manufacturer of women's underwear, we have women bra, women panties, Women Nightwear, women shape wear, and Women Swimwear. For women bra, we have many kinds of bra, such as Padded Bra, Wired Bra , Strapless Bra, etc. They are fashionable, comfortable and high quality. And we have a well trained team to control the product style, quality, customer service and shipment delivery. So if you want it all-comfort, good quality and style-trust us to deliver. 

Women Bra

Soft Bra,Lace Bra,Women Bra,Ladies Bra

Guangzhou Jiamanqi Apparel Co.,Ltd. , https://www.pretibisous.com

Previous: Stone sells gold price

Next: None