ITOCHU Corporation announced its participation, by capital investment, in the acquisition of US-based The LYCRA Company by its capital alliance and business partner Shandong Ruyi Science and Technology Group. Looking ahead, ITOCHU will work in conjunction with Shandong Ruyi to further increase the corporate value of LYCRA and maximise collaborative synergies.
LYCRA was established as the result of carving out the apparel and advanced textiles operations of US textiles giant INVISTA. The company has established a global presence primarily with spandex (polyurethane elastic fibre), polyester, nylon and various other synthetic fibers used in clothing items. LYCRA owns numerous competitive original material brands including Lycra, Coolmax, and Thermolite. Lycra in particularâ€â€as the signature brand name for spandexâ€â€has penetrated widely throughout the global marketplace since its initial launch in 1958 as a result of its high quality and effective marketing campaigns and has maintained a highly competitive profile to this day.