Hyosung has expanded the spandex plant in Turkey and seeks to raise the ‘creora’ market share in Europe and the Middle East. Hyosung invested $27 million for expanding the project by 5,000 tons. The expansion project of the spandex plant located in Istanbul began in September.
Hyosung’s expansion project will be completed within the first half of next year and the yearly production of Turkey spandex will be raised up to 25,000 tons. As construction of the new spandex plant in Quzhou, China, will also be completed in the first half of 2017, Hyosung’s global production of spandex will grow to a total of 221 thousand tons.
This expansion by Hyosung at the Turkey spandex plant aims not only to provide stable supply to the consistently growing Turkish market but also to raise the market share of the ‘creora’ brand in Europe and Middle East.
Hyosung completed construction of the spandex plant in Çerkezköy of the Tekirdag Province which is 100 km away from Ankara, the capital city of Turkey, in 2009 and has since invaded the premium markets of Europe and the Middle East at the same time. Recently, the demand for spandex, high value-added textile has been rapidly growing in Europe and the Middle East, and the existing production lines alone were won’t meet this. That is why Hyosung quickly decided to expand the Turkey spandex plant facility and began to construct the new facility.
Head of the Textile PG Cho Hyun-joon said: “To defend the world No.1 position, we need a preemptive response to the explosively growing demand for spandex as in the European and Middle East markets, and this facility expansion was determined for that purpose. While increasing spandex supply for customer satisfaction, we won’t be negligent of development of optimized goods for customer requirements.”
This facility expansion is expected to raise the market share of the world No.1 spandex brand of Hyosung, ‘creora’, to at least 31 per cent. This means that one of three flexibility clothes worn by the 7.4 billion population of the world uses ‘creora’.
Spandex is widely used not only for the general and functional clothes such as underwear, swimsuit, jeans and sportswear but also for diapers and industrial gloves, and recently even for traditional clothes, including hijab (Islamic traditional clothes).
After developing spandex successfully in its independent technology in 1992 for the first time as a Korean company, Hyosung has invaded the global market with the ‘creora’ brand at the head, and has been maintaining the No.1 market share position in the world. Having built the global production system not only in Korea and China but also over the world including Turkey, Vietnam and Brazil, Hyosung is making much profit through exporting products directly from those places.
Also, Hyosung launched sub-brands for each purpose, for example, ‘creora Fresh’ a differentiated spandex through deodorizing function, ‘creora Color+’ and ‘creora Eco-soft’, which are receiving positive response.
Hyosung participated in the largest lingerie and swimsuit material exhibition the Lyon Mode City & Interfiliere Lyon 2016 held in Lyon, France, in July to accelerate invading Europe.