1965 The Birth of Luen Thai
The Luen Thai Shipping and Trading Company was founded in Hong Kong. The two words “Luen Thai” is derived from a Chinese phrase that means “unity” and “peace”. The word luen refers to connecting with friends, uniting in business, and transporting across different regions, while the word thai implies respect, stability, peace, and prosperity. These ideas reflect the new company’s aim to expand client network and its hopes for future success, peace, and prosperity.
1970s Founding a foothold in Micronesia
Dr. Tan Siu Lin and his family moved to Guam. To spice up the monotonous island life, Dr. Tan imported and distributed kung fu films from Hong Kong and set off a craze, the launch pad from which the Tan family eventually became one of the most important business families in the region.
1980s The First Garment Factory
Luen Thai established its first garment factory in Saipan. Dr. Tan Siu Lin also joined the early group of patriotic overseas businessmen who responded to China’s open-door economic policy to invest and set up factories in Mainland China.
1990s Expansion into Different Industries
Luen Thai founded Tan Holdings Corporation and designated it as the Group’s umbrella company in Micronesia. As Saipan gradually became a popular destination for beach holidays, the Group acquired the Century Hotel in 1990 and the Japanese-owned Daiichi Hotel in 2000, which it renamed as Fiesta Resort Saipan. The acquisition offered the company valuable first-mover advantage. Luen Thai also entered the tuna fishing business, which has grown to become one of the largest offshore fishing companies in the Pacific region today. In addition, Luen Thai set up factories in the Philippines and quickly became the largest garment manufacturing employer in the country. This was followed by the establishment of the Dongguan Supply Chain City, which took advantage of Mainland China’s manufacturing power and enabled the Group to reach new heights.
2004 Apparel and Accessories Business Went Public
Luen Thai Holdings Limited (311: Hong Kong) was listed on the Main Board of the Hong Kong Stock Exchange and recognized as one of the world’s leading apparel and accessories manufacturers.
2008 Skechers China was Established
Luen Thai partnered with Skechers USA to form Skechers China, a joint venture that retails the brand’s range of sports shoes and clothing in China and Southeast Asia.
2016 Joining Hands with Mainland Enterprises
Shangtex Holding Co. Ltd. becomes Luen Thai Holdings Limited’s largest shareholder, a demonstration of complementarity and successful collaboration of China-Hong Kong businesses.
2019 Travel Business Went Public
SAI Leisure Group Company Limited (1832: Hong Kong) was listed on the Main Board of the Hong Kong Stock Exchange. The company offers comprehensive, one-stop travel services that cover hotels, luxury travel retail, and tourism support services, and is a tourism industry leader in the Western Pacific Region.
2020 Skechers China Distribution Center Opens
The Skechers China Distribution Center, located in the city of Taicang in Jiangsu, officially opened. With a total investment of RMB 120 million, the center is capable of handling 60 million items of cargo each year. Skechers has become one of the top three international sports and leisure brands in Mainland China, with over 150 “super stores” and nearly 3,000 retail locations across 30 provinces.
Luen Thai Today
As a result of many years of hard work, Luen Thai’s business today is diversified and enjoys a high level of stability and momentum. Thanks to its flexible, forward-looking strategies, innovative and adaptive technological management systems, and a firm commitment to the organization’s core values of Integrity, Trustworthiness, Dedication, and Diligence, the company is poised to overcome future challenges brought about by ongoing technological advances and an ever-changing global landscape.