298
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
Dec 4, 2019
Download
Download the article
Print
Text size

Shandong Ruyi prepares for court battle with supplier

Published
Dec 4, 2019

Aquascutum’s Chinese owner Shandong Ruyi is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist.


Aquascutum


A Portuguese fabrics manufacturer called Calvelex, which supplies to British luxury brand Aquascutum, is planning to take the Chinese group to court to force it to pay more than €100,000 (£83,600) in unpaid bills.

The Portuguese firm is expected to file papers in a Hong Kong court this week, according to The Sunday Times.

Shandong Ruyi, which also owns Sandro, Maje and Claudie Pierlot, tried to position itself as China’s LVMH through an aggressive M&A campaign, spending over $4 billion in overseas acquisitions.

But the strategy has had its problems, and the group’s credit rating was recently downgraded after it struggled to show it can repay its large debt pile. In addition to loans totalling $310 million with maturity coming due in October and November, the company has to address $345 million of offshore notes due in December.

According to Global Ratings, Shandong Ruyi is now looking at selling several assets to raise funds.

In the year ended March 2018, Aquascutum posted a 36% decline in sales to £8 million and pre-tax losses of £6 million. Its latest accounts for the last financial year are two months overdue.

Shandong Ruyi fashion empire also includes Gieves & Hawkes and a controlling stake in handbag maker Bally.

Copyright © 2024 FashionNetwork.com All rights reserved.