[4] He is also currently president of Shandong Ruyi Woolen Textiles Group Co Ltd.[4] In 2010, it purchased a 41 percent stake in Renown Inc., a Japanese apparel maker, for $36.8 million, becoming its largest stakeholder.
[6] As of 2016, Shandong Ruyi owned the French company SMCP, owner of fashion brands Sandro, Maje [fr] and Claudie Pierlot.
[5] In 2019, it acquired Invista's Apparels & Advanced Textiles business for an undisclosed amount said to exceed $2 billion,[13] adding products such as Lycra and Coolmax to its portfolio.
[14] However, in 2022 ownership of The Lycra Company was transferred to an equity group that provided funds for its acquisition, after Shandong Ruyi defaulted on loan repayment terms.
[16][17] As of 2018, most of its business was concentrated in the clothing industrial chain, including supplying yarn, fabric, raw materials, dying, weaving, sewing and production.
[1] In 2017, Shandong Ruyi Technology Group said it would renovate a former television factory in Arkansas into its first facility in North America, in a $410 million project.