(Yicai Global) Dec. 27 -- Fashionable clothing firm Souyute Group Co. [SHE:002503] will invest CNY1.05 billion (USD160.1 million) to build a supply chain base for fashion industry in Dongguan, the southern Guangdong province, to improve its supply chain management business.
The company signed an investment project agreement with the local Daojiao county government in Dongguan on Dec. 17, under which the latter will provide a 138.520,69-square-meter land for the project, said a statement released by the fashion clothes brand supplier today.
The supply chain base will engage in raw material trading, inspection, research and development, warehousing, logistics and relevant supporting services of textiles and garments. The project will go into operation by the end of 2022, the company said.
Headquartered in Dongguan, Souyute is a private fashion industry group focusing on leisure wear, publicly available information shows.