China's Shandong Ruyi to pay more than $2b for Lycra owner

China's Shandong Ruyi to pay more than $2b for Lycra owner

Photo: Lycra website

China’s Shandong Ruyi Group is paying more than $2 billion to buy the owner of Lycra, the form-fitting elastic material used in everything from skinny jeans to yoga pants, people with knowledge of the matter said.

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