How textile supplier Pegasus World Holding increased its turnover by 62 per cent to £13m in one year

Textiles and fulfilment company Pegasus World Holding has increased its turnover by 62 per cent after expanding its operational capacity and entering new markets.

Turnover at the Leeds-based company, which supplies textiles, cleaning and hygiene products to businesses as well as operating a fulfilment centre, increased from £8m to £13m in 2023.

Chief executive Ivan Zhou said: “The significant increase in turnover during the past 12 months is a resounding endorsement of what we do and a wonderful reflection on the hard work and commitment of our employees.”

Ivan Zhou, chief executive of Pegasus World Holding, said turnover at the company increased from £8m to £13m in 2023 after expanding its operational capacity and entering new markets. Picture: Simon HulmeIvan Zhou, chief executive of Pegasus World Holding, said turnover at the company increased from £8m to £13m in 2023 after expanding its operational capacity and entering new markets. Picture: Simon Hulme
Ivan Zhou, chief executive of Pegasus World Holding, said turnover at the company increased from £8m to £13m in 2023 after expanding its operational capacity and entering new markets. Picture: Simon Hulme
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Pegasus World Holding comprises three divisions: Pegasus Group, Pegasus Investment, and Curo Fulfilment.

The business was founded in 2009, supplying clothing for the hospitality industry.

Mr Zhou’s first contract was to supply staff shirts for the Eat sandwich chain with linen hire and laundry supplier London Linen.

In 2012, it created eco chef - jackets made from recycled plastic bottles - which it supplied to chefs working at the London Olympics.

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Over the years it has expanded into a broader range of hospitality textiles and in 2020, in the wake of the Covid-19 pandemic, Mr Zhou moved the company’s headquarters from York to Logic Leeds and diversified into the healthcare and cleaning sectors.

Mr Zhou said that Pegasus World Holding's strategy was to invest in expanding its operational capacities and enter new markets.

The company partners with manufacturers across the globe, primarily in China but also Cambodia, Pakistan and India, to source its products and then works with UK distributors to supply the products into the UK market.

Pegasus recently added to its real estate portfolio with a new 65,000 sq ft office and warehouse building at its Logic Leeds base, which serves as the headquarters of its Curo Fulfilment division, which packs, stores and distributes goods on behalf of a wide range of customers.

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It has forged a network of strategic partnerships with blue-chip companies such as Omega, Johnsons Group, and Sumec UK.

Curo Fulfilment expects to create 10-15 new jobs over the next year.

Mr Zhou said: "Our passion and aspiration have propelled us from a modest inception to a powerhouse of global influence, ceaselessly pursuing innovation.”

Meanwhile, the company has also adopted sustainable practices through its initiative, Pegasus Better World, supporting a business model that harmonises with societal wellbeing and environmental preservation.

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“We envision a brighter future where business ethics and social responsibility intersect, crafting our role in nurturing a world that thrives tomorrow,” said Mr Zhou.

Mr Zhou was born in Jiangsu, a coastal Chinese province north of Shanghai.

His father worked in real estate while his mother was - and is - a successful textile entrepreneur.

She was the first woman to own her company in their home city when China started privatising its industry during the nineties. She went on to buy the factory where she started her career, retaining all the employees.

“She was very famous in China,” Mr Zhou told The Yorkshire Post in 2021. “I saw a lot of good stories about her so that inspired me a lot as I was growing up.”