Early Life
Li Rucheng was born in Shanghai but later moved to Ningbo, a port city in Zhejiang province. He began his career as a tailor and gained experience in the garment industry.
Rise to Success
In 1979, Li Rucheng founded a small clothing factory with partners. This marked the beginning of the Youngor Group. By 1982, he became factory chief and led the company's growth. The company became famous for its men's shirts and suits, establishing itself as a recognizable fashion brand in China. Under Li's leadership, the company dominated the domestic market for men's apparel for decades. In 1993, the factory was renamed Youngor. The company was listed on the Shanghai Stock Exchange in 1998. The company's expansion and success are a testament to Li’s strategic vision and business acumen. Youngor has held the biggest share of China’s shirt market for 15 consecutive years.
Key Business Strategies
Li Rucheng's key business strategies involved a focus on the apparel industry and strategic diversification. While apparel remained a core business, Li invested profits into real estate and financial investments in the 1990s. These ventures contributed significantly to the group's revenue and profit. Youngor has invested heavily in smart manufacturing, marketing, smart logistics, and brand building. The company also expanded its operations beyond textiles to include fashion, real estate, finance, and cultural creativity.
Philanthropy
Li Rucheng and Youngor Group have been involved in philanthropy. The company has made generous donations to build schools and homes for the elderly. Youngor has built over 10 primary schools in various regions of China since 1997.
