Shares highlights from first year as stand-alone subsidiary of The Ruyi Group
The LYCRA Company, a global leader in developing innovative solutions for the textile, apparel and personal care industries, is marking its first anniversary as a stand-alone subsidiary of the Ruyi Group on January 31.
In 2020, The LYCRA Company is operating at full strength across all facets of the organization and sharpening its focus to create value through strategic investments in science and technology as innovation is a key enabler to the company’s future success. The company is also actively exploring potential synergies with Ruyi, its majority shareholder, which include leveraging its spandex capacity and fully integrated value chain.
“Ruyi has been a strong partner that understood the challenges we faced as a new business, including the impact global economic trends had on our business performance,” said Dave Trerotola, CEO of The LYCRA Company. “This transition year also gave us plenty of wins as we built a strong foundation for future growth by continuing our heritage of investing in innovation.”
The LYCRA Company recently opened a new state-of-the-art research and development lab in Foshan, China, and launched several exciting new solutions designed to add value to collections and meet consumer needs for lasting comfort and performance.
The company expanded its EcoMade portfolio of sustainable products, broke new ground with its first print technology offering, and is ready to revolutionize apparel fit again with a new fiber that stretches to fit more body shapes within a size range. Products launched include:
LYCRA® EcoMade fiber is the company’s first branded spandex that offers the same performance as the original LYCRA® fiber, but is made with pre-consumer recycled content.
LYCRA® FitSense™ technology is a revolutionary water-based dispersion that is screen-printed onto garments to deliver lightweight, targeted support.
LYCRA® MyFit™ fiber creates apparel with greater shape tolerance to offer consumers a customized fit experience.
LYCRA HyFit® T859 fiber for personal care products is a new formulation that enables customers to have more run time per package. This results in improved uptime and reduced elastic consumption, as well as lower distribution and warehousing costs. It also helps customers meet sustainability goals.
Marketing highlights include many successful co-brand collaborations with esteemed brands and retailers, a robust global trade advertising program, and a 360-degree integrated marketing program to increase brand awareness and drive preference for LYCRA® fiber in China.
Looking ahead, The LYCRA Company has a robust innovation pipeline full of new and improved products to help it win in the marketplace. The company has also reaffirmed its commitment to its sustainability platform, Planet Agenda, which touches every aspect of the business from corporate responsibility and manufacturing excellence to product sustainability.
Customers can also expect The LYCRA Company to continue its principle-based approach to business, with its unwavering commitment to ethics and compliance.
“I’m really proud of everything we accomplished in our first year,” Trerotola concluded. “We’re very excited to be part of the Ruyi family and look forward to its ongoing support as we continue to transform our business and the apparel and personal care industries.”