For the first time a Chinese textile company opened a subsidiary in the district of Piemonte, where it will produce textile with high-end yarns. Xinao is one of the world leaders in the wool yarn industry of fine and thin yarns, founded in 1991 and listed in the Shanghai Stock Exchange since 2014.
For the first time, indeed, a Chinese spinning has chosen the Piedmontese province of Biella, in Piedmont, to open its European subsidiary and the news is creating a debate and some apprehension in the textile district of the city, where some of the most famous brands of the Made in Italy, including Zegna, Cerruti, Piacenza, Fila were founded.
Since last September, in the municipality of Verrone, Xinao Textiles Europe has officially started its activity, an Italian company subsidiary of Xinao Textiles Inc, one of the world leaders in the wool spinning sector of fine and thin yarns. A textile group, founded in 1991 and listed in the Shanghai Stock Exchange since 2014, that in 2017 produced 10 million kilograms of yarn (a 10% more than in 2016).
The market is for an 80% that of outer knitwear and for a 20% of circular knitwear and hosiery, and one of the company's strengths is the fully integrated production chain: from the farm owned in Australia that provides part of the woolen requirement for all the combing, dyeing and spinning phases.
The Italian subsidiary of the Chinese group will not only be a commercial center, but a crucial development and production point to consolidate positions in Europe. Another peculiarity is that the operative subsidiary is entirely Italian, since its general manager is Alberto Gaia, from Biella, with experience in combed wool companies.
"We have chosen Biella because it has always been a high-level wool center. The mélange yarn comes from the parent company and is marketed directly, while the raw yarn is processed at a local level, so as to have excellent flexibility and create a product of Italian taste and high value", Gaia told to Mf Fashion (Class Editori group).
The manager then added: "At the moment there's about ten of us, all Italians. I cannot state the investment made, I can only say that it is the first ever in Europe, and I cannot even talk about other plans ", suggesting that there may also be new projects in Italy, a market that will represent the 70% for the phase one of the sales of the old continent.
"In a second phase we will begin to focus more on Europe, knowing that we can count on our core business, that is extra thin merino, on high-end yarns where we are very competitive with prices and international certifications such as Rws-Responsible wool standard".
If the industrial activity started a few months ago, the trade/exhibition one starts with the new year, with the participation at Ispo Munich from next Sunday and at the Filo exhibition in Milan at the end of February. "We hope to be able to exhibit soon also at the Pitti Filati in Florence", concluded Gaia.
(Source:Class Editori)
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