Chairman Hyun Joon Cho of Hyosung (KRX:004800) participated in the ˜Intertextile Shanghai 2018, the worlds largest exhibition of apparel and fabrics held in the Shanghai National Center for Exhibition and Convention Center, for three days from September 27 together with twenty-one global client companies.
Following on from last year, Chairman Hyun Joon Cho checked the latest trends in the textile market by meeting with customers who visited the exhibition. Chairman Hyun Joon Cho also met with the top management of Maniform, Anta and Yishion, which are the No. 1 and No. 2 brands in the markets for inner wear, sportswear and casual clothes in China, emphasizing that win-win growth with customers is the most important value.
Hyosung set up its exhibition booth with the focus on three themes, reflecting the market trend with the concept of ˜A Better Life Ahead and avoiding the conventional format of product introductions.
Chairman Hyun Joon Cho said, We need to listen to the voice of the customers in the field in order to analyze the rapidly changing market trends and to grasp exactly what customers want. We will concentrate all our capabilities – including technological development, quality innovation and customized marketing activities “ on consolidating our status as the global No. 1 company. The Chinese clothes market was worth about 1 trillion 797 billion yuan as of the end of 2016 (approximately KRW 300 trillion) and continues to grow at an annual average rate in excess of 5%.
Hyosung is expanding its business through more than 100 global production and sales networks in 30 countries. Furthermore, in a drive to enhance its manufacturing competitiveness, in September the company completed the introduction of a smart factory system to its Spandex factories in Quzhou, Jiaxing, and Guangdong in China, as well as those in Vietnam, by executing data collection and analysis and control management in all sectors of manufacturing.
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