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Old And New School Chinese Fashion Tycoons See Wealth Surge During Pandemic

We are all housebound due to the epidemic, and athleisure is currently our go-to style of clothes. Talking about individuals and businesses in the fashion industry that are succeeding this year is therefore strange. The epidemic is going well for the companies who make cotton clothes from spun cotton thread.

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We are all housebound due to the epidemic, and athleisure is currently our go-to style of clothes. Talking about individuals and businesses in the fashion industry that are succeeding this year is therefore strange. It’s not quite what it seems, though. Rather than, say Uniqlo having a banner year, it’s manufacturers that spin cotton thread into clothing that are doing well in the pandemic. Ma Jianrong, the founder of Shenzhou International Group Holdings, the biggest producer of knitwear in the world, is one of them. To mention a few, Shenzhou provides fabric to Nike, Adidas, Puma, and Uniqlo. Jianrong has an estimated net worth of $2.6 billion and it’s surging despite the pandemic. Shares of his company have increased by 17% so far this year.

There are several ways to generate money in the fashion industry. You may create a fashion company like Tori Burch or Michael Kors. You can own the shopping centers or online stores that offer clothing. Or you can produce the raw materials that are turned into the fabric that clothes are made from.

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On his online store, Alibaba founder Jack Ma unveiled the Luxury Pavilion. Pony Ma offers something like on Tencent’s Tmall marketplace. Both websites have seen the successful addition of Cartier, Versace, and numerous more high-end fashion companies. Both the Southeast Asian e-commerce behemoth Lazada and the Intime Department Stores are owned by Jack Ma. Pony Ma, on the other hand, is a big investor in Wanda Commercial Properties, the largest shopping mall operated in China, as well as Heilan, a menswear retailer, and the fashion e-commerce site Vipshop.com, as well as others.

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If the pandemic has taught these Chinese billionaires in the fashion industry anything, it’s that making a fortune through brick and mortar stores is becoming a thing of the past and that embracing e-commerce will give them access to a much larger customer base and provide 24/7/365 access to the products being sold.