Jiang Long to Open First National Textile Supermarket
Source: Fibre2fashion Date: 2007-09-06
Jiang Long Textile Company, a private enterprise in Shaoxing, plans to invest 100 million yuan to build the first national textile supermarket. The company will initially launch gray fabrics in the supermarket as they intend to achieve a sale of 7.5 billion yuan within a year.
Gray fabric is a non-processed, non-dyed, non-printed and non-finished woven fabric. There are about 600 fabric manufacturers with about 8 million looms in Shaoxing County. Each loom produces around 250 meters per day, with daily output reaching 20 million meters. At a unit price of 4 yuan per meter, the annual output value would be about 25.6 billion yuan.
Last year, Jiang Long Dyeing Company, a subsidiary of Jiang Long Holdings, was officially listed on the main board in Singapore.
