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Li Rucheng Killer Hanma Pulls Younger to Win 100 Billion Market
After the New Year, Youngor made a significant move in the capital market by investing RMB 688 million to subscribe for 40 million shares of Suning Appliance. This investment marked the beginning of Youngor's strategic expansion into the apparel industry under the leadership of Li Rucheng.
On January 8, 2010, Youngor launched its world-first Hallyu Family Life Hall in Ningbo, signaling its strong commitment to the development of the hemp industry. The company emphasized that it would focus on both branded clothing and investment, aiming for long-term growth over the next 30 years.
Li Rucheng, Chairman of Younger Group, expressed confidence in the future of Youngor, stating that after this round of restructuring, the company would experience substantial development. He highlighted the importance of hemp as a new fiber resource with great potential, especially given China’s high dependence on imported cotton and other textile materials.
Over the past four years, Youngor has invested nearly 300 million yuan to develop the hemp industry, working closely with the People's Liberation Army's General Logistics Department to overcome challenges in industrializing hemp fiber. This effort has led to the introduction of hemp products into the Hanma Life Center, making them more accessible to Chinese consumers.
According to Li Rucheng, hemp fiber offers a promising alternative to traditional textiles, with broad market opportunities. He believes that the industrialization of hemp could not only benefit Youngor but also revitalize the entire textile industry. Industry experts agree that Youngor's push into the hemp market could drive innovation and create new growth opportunities.
China’s reliance on flax imports has historically been high, reaching 55% between 1995 and 2005. With Russia being the largest producer of hemp, China is now emerging as a major player in the global hemp industry. As raw material prices rise, hemp presents a viable solution to alleviate shortages in the textile sector.
Li Rucheng is optimistic about the market potential of hemp, estimating that the industry could reach hundreds of billions of yuan in value. He envisions Youngor playing a key role in this transformation, positioning hemp as a mainstream fiber alongside cotton, wool, and silk.
In terms of operations, Youngor has built one of the largest clothing marketing networks in China, with over 100 branch offices, 400 self-owned stores, and 2,000 commercial outlets. The company is now focusing on establishing a vertical industrial chain model, with plans to set up 5–8 raw material and production bases in collaboration with Hema Investment Holdings Co., Ltd.
By 2020, Youngor aims to establish six hemp planting bases nationwide, further expanding its presence in the market. Li Rucheng emphasizes that the industrialization of hemp is not just a corporate initiative but a revolution for the entire industry. He calls for national support and collaboration with other textile companies to help Chinese hemp break through economic challenges and contribute to the revitalization of the industry.
In the apparel sector, Youngor has been reorganizing and upgrading its operations. After increasing the registered capital of its subsidiary Youngor Garment Holdings Co., Ltd. from 200 million to 1.6 billion yuan, the company is streamlining its brand management and improving efficiency. Multiple divisions are now working together to enhance brand performance and market responsiveness.
Li Rucheng has repositioned Youngor’s apparel into five distinct product lines, including the new Youngor series and the U.S.-based Hartmarx brand. These collections will be showcased at the Beijing CHIC International Fashion Apparel Expo in March. Additionally, he plans to open several living museums in Beijing and Shanghai, with the goal of displaying Youngor’s heritage and innovations during the 2010 World Expo.
Looking ahead, Youngor intends to expand its hemp products into international markets, targeting high-end consumers in Europe, the U.S., and Japan. This strategic move reflects the company’s vision to position itself as a global leader in sustainable textile innovation.