Chairman Hyun-Joon Cho of Hyosung participated in Intertextile Shanghai 2018, the world’s largest exhibition of apparel and fabrics held in Shanghai, China, to target the Chinese clothes market in earnest. Chairman Cho showed Hyosung’s status as the No. 1 company in the world’s textile market by personally communicating with the No. 1 and No. 2 brands in the areas of inner wear, sportswear, and casual clothes in China accompanied by 21 global client companies.
Chairman Hyun-Joon Cho of the Hyosung Group continues to expand global effort to solidify Hyosung’s status as the No. 1 company in the world’s textile market. Chairman Cho participated in Intertextile Shanghai 2018, an exhibition of apparel and fabrics held in the Shanghai National Center for Exhibition and Convention, for three days from Sep. 27 together with client companies and vowed to solidify Hyosung’s status as the No. 1 company in the world’s textile market by targeting the KRW 300 trillion Chinese clothes market through the exhibition.
Personal communication with the top brands in the Chinese clothes market to check the market trend
Following last year, Chairman Hyun-Joon Cho checked the latest trend of the textile market by meeting with customers who visited the exhibition booth. At the beginning of this year, Chairman Cho visited Vietnam and India and disclosed his plan to establish global production bases and expand business. In Shanghai, he publicized Hyosung’s status as the leading company in China, the world’s largest textile market. Chairman Cho met with the top management of Maniform and Anta and Yishion, the No. 1 and No. 2 brands. respectively, in the areas of inner wear, sportswear, and casual clothes in China and emphasized that win-win growth with customers is the most important value.
“We need to listen to the voice of customers in the field in order to analyze the rapidly changing market trend and grasp what customers want. We will concentrate all our capabilities including technological development, quality innovation, and customized marketing activities to solidify our status as the world’s No. 1 company,” he vowed.
The Chinese clothes industry market is valued at about CNY 1.797 trillion as of the end of 2016 (approximately KRW 300 trillion), and it continues to grow by more than 5% annually.
Leading the Chinese market in addition to Vietnam and India with global effort
Chairman Cho participated in the exhibition together with a total of 21 global client companies including Chinese textile company Ya Tai and Vietnamese fabric dyeing company Hung Yen to support the business of client companies. Chairman Cho hosted a dinner party for clients on Sep. 28 to promote exchanges among the textile companies worldwide.
In February of this year, Chairman Cho met with Vietnam’s Prime Minister Nguyen Xuan Phuc and discussed ways to expand business and cooperation. Afterward, he met with Indian Prime Minister Narendra Modi and announced his plan to build a Spandex factory in India. In August, Chairman Cho met with Yuan Jia Jin, governor of Zhejiang Province, China, to seek win-win growth. His participation in the “Intertextile Shanghai 2018” exhibition is part of the active global effort to preoccupy the global market.
The exhibition was composed of three themes: multipurpose, environment-friendly, and future trend
Hyosung TNC composed the exhibition booth with three themes reflecting the market trend with the concept of “Better Life Ahead,” avoiding the existing format of introducing mainly products.
With the first theme of “Purpose Full,” the athleisure look developed with the functional fabric of Hyosung TNC – which can be worn for various purposes while playing sports and in daily life, too -- was introduced. The second theme was “Sustainability,” reflecting the values of environmental protection by using environment-friendly products. Clothes made with MIPAN Regen, which is recycled yarn from PET bottles, was exhibited. A product made with the environment-friendly fabric jointly developed with client company Sunhing in Hong Kong using the functional fabric of “Creora®eco-soft” was also exhibited. With the last theme of “Fashion Forward,” the fabric that shows the spring and summer trends of 2020 was exhibited through cooperation with Nelly Rodi, a world-class trend consulting company based in France, for the establishment of the company’s image of being one step ahead in the global market. In particular, the skinny jeans produced with creora® Fit² -- which is elastic in all directions -- received much attention in the exhibition.
Hyosung TNC established a Spandex manufacturing system with its own technology in 1998 based on the management philosophy that “Technological competitiveness is the success DNA.” Since then, Hyosung TNC has produced various functional products through continuous technological development, becoming the No. 1 company in the world’s Spandex market in 2010 as a result of active customer-oriented marketing efforts.
Hyosung TNC is expanding its business with more than 100 global production and sales networks in 30 countries. In September, the company completed the establishment of a smart factory system in the Spandex factories in Quzhou, Jiaxing, and Guangdong of China as well as in Vietnam to enhance manufacturing competitiveness by executing data collection and analysis and control management in all sectors of manufacturing.
Text | Editorial Office
Photo | Communications Office