1990 年一群被資遣的成衣產業老兵， 抵押私家房產，成立聚陽實業。聚陽成立 之初，台灣成衣產業正面臨生產線外移與 國內產業萎縮的困境。而聚陽在1990 年代 前期，歷經起起伏伏的慘澹經營之後，在 1990 年代後期迅速成長，至2012 年已經成 為年營收150億元、全球員工超過2萬人的 國內成衣業龍頭企業。國內財經媒體與學 界對於聚陽的介紹與研究雖然不少，但多 著重於聚陽本身企業發展與管理策略的研 究，而本研究則是從終點端（美國）市場 變化來解釋聚陽的崛起。本研究認為， 1990 年代以後，美國消費市場的品牌商與零售通路商爭奪戰，通路商企圖爭取自有品牌中高階市場，形成了新的市場需求，而聚陽積極的經營策略，使其一方面掌握住此新市場需求，同時也超越單純原廠委託製造代工的角色，成為美國通路商的理想合作夥伴，因而迅速成長。

Makalot was initially founded by a group of disbanded veterans in 1990 when Taiwan’s apparel industry was largely shrinking from offshore migration. However, the company started to grow rapidly in the second half of 1990s despite suffering in the first half. In 2012, Makalot has become the leading firm in Taiwanese apparel industry with more than 20 thousand employees and about 15 billion NTD annual revenue. This article argues that the U.S. retail revolution has largely contributed to the rise of Makalot. Since the 1990s, the fierce competition between brands vendors and retailers in the U.S. market has forced the retailers to sell private label products in the mid to high-end markets, which required higher marketing and design capabilities from traditional OEM partners. Makalot’s timely and strategic response to the U.S. retailers’ new demands has allowed itself to become the most ideal partner and enjoyed rapid growth.