"We are currently preparing a future plan on entering the Southeast Asian market. We are also considering to build factories in Indonesia, Malaysia, and Thailand," Deputy Manager of Youngor Group Gaogang Hu revealed during an interview held in Ningbo City, Zhejiang Province, China, on Wednesday (Nov 20).
In spite of being well-established and having set up business, Hu mentioned that Youngor currently did not have any subsidiaries or factories overseas. The company had in fact earlier build a factory in the Philippines, but it had been closed down owing to some reasons.
However, the Chinese company has forged cooperation with some local partners in several countries, such as in Sri Lanka and Romania.
"We have, so far, just cooperated with other companies abroad, and currently, most of our products are marketed domestically," he stated.
Moreover, Youngor Group has always adhered to and pursued the vision of brand construction.
In 2017, Youngor had introduced Hart Schaffner Marx, a 120-year-old flagship brand of men's clothing in the United States and obtained the operating rights of the brand in mainland China, Hong Kong, and Macao.
In 2019, the company had also established strategic partnership with five international fabric suppliers -- Zegna, Loro Piana, Cerruti 1881, Alumno, and Albini -- and released the proposal of building a global fashion ecosystem along with them, for jointly establishing a brand called "Mayor."
Hence, the company sells its clothing products under several different brands, with Youngor as the main brand. Meanwhile, Mayor, Hart Schaffner Marx, and HANP have been set as an extension of the main brand in the company's diversified branding system.
Furthermore, the Chinese clothing manufacturer aims to expand its business in the near future, especially to the Southeast Asian region, including in Indonesia.
Youngor's Deputy Manager Hu remarked that Southeast Asia will be a new market for the company, and it is a very different one from the Chinese market.
"If we want to open market and expand business in Southeast Asia, we must find suitable local partners for our business," he explained.
Hu also highlighted the need for the company to look for clothing designs that align with the preference of consumers in the Southeast Asian market.
"Hence, we can cooperate with local partners to enter the Southeast Asian market, but I want to highlight that we also need to work with our partners in the design sector," he stated.
Youngor Group is a Chinese clothing manufacturer that was founded in 1979. It has gradually established a diversified and professional operation pattern and taking brand clothing as its main business. Shirts, its main product, is the first Chinese national export inspection-free product among domestic counterparts.
Youngor’s total assets by the end of 2017 had reached some US$11.85 billion, with sales revenue touching $9.48 billion.