From the Sector

The multi-year deal brings the TOMMY HILFIGER brand back to the world of Formula One for the first time in 17 years, as the Official Apparel Partner for the four-time World Champions Mercedes-AMG Petronas Motorsport.

Tommy Hilfiger, which is owned by PVH Corp. [NYSE: PVH], announces it has formed a multi-year strategic partnership with four-time Formula One World Champions Mercedes-AMG Petronas Motorsport. Starting in the 2018 season, TOMMY HILFIGER will be the Official Apparel Partner of Mercedes-AMG Petronas Motorsport, building on the sport sponsorship heritage that Tommy Hilfiger has embraced since first founding his brand. The partnership with the world’s top Formula One team and leading automobile innovator underscores Tommy Hilfiger’s vision to continuously elevate and expand the brand in key markets for the next generation of TOMMY HILFIGER consumers.

“From the first time I attended a Formula One race, I was completely fascinated by the world of motorsports,” said Tommy Hilfiger. “To be re-entering this arena with World Champions MercedesAMG Petronas Motorsport and their number one team is an incredible way to fuse fashion and Formula One. I recognize the passion, spirit and drive that the entire Mercedes-AMG Petronas Motorsport team shows at every race, and these shared qualities are why I’m excited to partner with them for the upcoming seasons.”

For the past four Formula One seasons, Mercedes-AMG Petronas Motorsport has won both the Constructors’ and Drivers’ World Championships, with the team’s British racing driver Lewis Hamilton winning his fourth World Championship title in 2017 and Finnish driver Valtteri Bottas taking third place.

Under the long-term partnership, TOMMY HILFIGER will be the Official Apparel Partner, supplying travel and team kits, as well as office and hospitality apparel for the more than 1,500 individuals who make up the Mercedes-AMG Petronas Motorsport team. The TOMMY HILFIGER logo will be featured on the team’s 2018 race cars, which will be revealed on February 22, 2018 at the Silverstone track in the United Kingdom, as well as inside the Mercedes-AMG Petronas Motorsport pit garage and other trackside assets.

Beijing - Tencent Holdings Limited (“Tencent”) (00700.HK), JD.com, Inc. (“JD.com”) (NASDAQ:JD), and Vipshop Holdings Limited (“Vipshop”) (NYSE:VIPS), today jointly announced that Tencent, a leading provider of internet value-added services in China, and JD.com, China’s largest retailer, have entered into definitive agreements with Vipshop, a leading online discount retailer for brands in China, such that Tencent and JD.com will invest an aggregate amount of approximately US$863 million in cash in Vipshop at the closing of the transaction.

Pursuant to the share subscription agreement, Tencent and JD.com will subscribe for newly issued Class A ordinary shares of Vipshop in the amount of approximately US$604 million and approximately US$259 million, respectively. The purchase price will be US$65.40 per Class A ordinary share, which is equivalent to US$13.08 per American Depositary Share (“ADS”) of Vipshop, five of which represent one Class A ordinary share. The purchase price represents a 55% premium over the closing price of the ADSs as of the last trading day on December 15, 2017.

The transaction is expected to close in the near future, subject to customary closing conditions.  Upon the closing, Tencent and JD.com will beneficially own, taking into account any existing holding, approximately 7% and 5.5%, respectively, of Vipshop’s total issued shares. The Class A ordinary shares issued to Tencent and JD.com will be subject to a two-year lock up restriction. Tencent and JD.com will have the right to appoint a director and an observer, respectively, to Vipshop’s board of directors during the two-year lockup period. After the end of the lock-up period, for so long as Tencent and JD.com hold approximately 12% and 8%, respectively, of Vipshop’s total issued shares, or otherwise by mutual agreement with Vipshop, they will maintain director and board observer rights.

Concurrently with the entry of the share subscription agreement, Tencent and JD.com have entered into business cooperation agreements with Vipshop, effective upon closing, establishing a cooperative relationship among Tencent, JD.com and Vipshop. Under these agreements, Tencent will grant Vipshop an entry on the interface of Weixin Wallet enabling Vipshop to utilize traffic from Tencent’s Weixin platform, and JD.com will grant Vipshop entries on both the main page of JD.com’s mobile application and the main page of its Weixin Discovery shopping entry, and will assist Vipshop in achieving certain GMV targets through JD.com’s platform.   

“I am truly delighted about Vipshop's new strategic cooperation relationships with Tencent and JD.com,” said Mr. Eric Ya Shen, Vipshop’s Co-founder, Chairman of the Board of Directors and Chief Executive Officer. “This undoubtedly is an important event for Vipshop as well as China's e-commerce and internet industries. We, together with Tencent and JD.com, will leverage our respective strengths to form a strategic cooperative alliance aiming to achieve a deep, win-win cooperation and to benefit internet users and consumers. We will develop a holistic cooperation with Tencent on the Weixin platform and expand our strategic alliance with Tencent into more and broader areas.  We will explore win-win opportunities in multiple areas with JD.com, including establishing a strategic alliance in collaboration with brand suppliers, and an on-line traffic alliance. We will continue to operate as an independent e-commerce platform and further deepen and enhance our leading e-commerce capabilities in fashion (including apparel, shoes, bags and accessories) and cosmetics categories as well as our strong female user base, thereby offering higher value and better user experience to our customers.”

“The strength of Vipshop’s flash sale and apparel businesses, as well as its outstanding management team, create clear and strong synergies with us,” said Richard Liu, Chairman and CEO of JD.com. “This partnership will further extend the strong inroads that we have made with female shoppers, and will expand the breadth and reach of our fashion business. We continue to add the top-notch partners to complement JD.com’s core strengths, ensuring that JD and our partners provide the best customer experience for every shopping need.”

Martin Lau, President of Tencent Holdings, said, “We are pleased to become strategic investor in and partner with Vipshop. We look forward to providing Vipshop with our audiences, marketing solutions, and payment support to help the company provide branded apparel and other product categories to China’s rising middle class. We already see substantial demand from our users to discover, discuss and purchase branded apparel in our applications, and we believe that connecting our users more deeply to products on Vipshop’s platform will enrich their online experiences while benefiting Vipshop. We are proud of the role our resources such as marketing technology, payments handling, and machine learning play in facilitating a healthy and diverse retail ecosystem, online and offline.” 

About JD.com, Inc.

JD.com is both the largest e-commerce company in China, and the largest Chinese retailer, by revenue. The company strives to offer consumers the best online shopping experience. Through its user-friendly website, native mobile apps, and WeChat and Mobile QQ entry points, JD offers consumers a superior shopping experience. The company has the largest fulfillment infrastructure of any e-commerce company in China. As of September 30, 2017, JD.com operated 7 fulfillment centers and 405 warehouses covering 2,830 counties and districts across China, staffed by its own employees. JD.com is a member of the NASDAQ100 and a Fortune Global 500 company.

About Vipshop Holdings Limited

Vipshop Holdings Limited is a leading online discount retailer for brands in China. Vipshop offers high quality and popular branded products to consumers throughout China at a significant discount to retail prices. Since it was founded in August 2008, the Company has rapidly built a sizeable and growing base of customers and brand partners. For more information, please visit www.vip.com.

About Tencent Holdings Limited

Tencent uses technology to enrich the lives of Internet users. Our social products Weixin and QQ link our users to a rich digital content catalogue including games, video, music and books. Our proprietary targeting technology helps advertisers reach out to hundreds of millions of consumers in China. Our infrastructure services including payment, security, cloud and artificial intelligence create differentiated offerings and support our partners’ business growth. Tencent invests heavily in people and innovation, enabling us to evolve with the Internet. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent (00700.hk) are traded on the Main Board of the Stock Exchange of Hong Kong.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transactions and the quotations from management in this announcement are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to, those included in JD.com’s and Vipshop’s filings with the SEC and in Tencent’s filings with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and none of Tencent, JD.com or Vipshop undertake any duty to update such information, except as required under applicable law.

• Lectra’s latest PLM solution selected by Jinfa Labi to improve its product development process through supply chain digitization

Paris – Lectra, the world leader in integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, is pleased to announce that Jinfa Labi, one of the first publicly listed maternity and infant clothing companies in China, has chosen Lectra Fashion PLM 4.0 to help digitally transform their supply chain, making it more efficient, integrated and connected.

Spurred by the continued growth of the Chinese economy, young Chinese parents are now demanding maternity and baby products that are more personalized and sophisticated in terms of material and design. To meet these new market needs, Jinfa Labi has chosen to implement Lectra Fashion PLM 4.0 after researching on all PLM vendors in the market. With the help of this solution, the company aims to further improve their product development process by digitizing their entire supply chain, from design to production, enhancing business agility and collaboration. By embracing digitalization, the company hopes to make progress in adopting the government initiative “Made in China 2025”.

Lectra’s ultimate collaborative platform—Lectra Fashion PLM 4.0—gives fashion and apparel companies the extra speed and agility they need to tackle the challenges of Industry 4.0 head on. With the widest functional scope on the market, this technology serves as the intelligent backbone for the digital supply chain, facilitating the entire design-to-production process. This ensures a consistent flow of error-free data between process, technology and people, thus enabling organizations to quickly adapt to different business models and keep pace with the latest trends.

“As one of the first domestic companies to engage in R&D, design, production and distribution of baby clothing, Jinfa Labi is now growing exponentially. We are looking for a partner with a worldwide perspective and in-depth knowledge on the industry’s best practices,” said Lin Ruowen, General Manager, Jinfa Labi. “And Lectra fits the bill. Their latest PLM solution connects CAD, industry-standard software, company IT systems and external suppliers together, allowing us to fully digitize our supply chain by covering all production stages. We can then focus on improving our core competencies.”

“We are confident that Lectra will help Jinfa Labi make their mark for “Made in China 2025”. This Industry 4.0-based initiative will not only revolutionize the way in which manufacturers operate but also change the way in which the brands and retailers run their businesses. Lectra is committed to providing the technology and support that our customers need to thrive in this new digital era,” said Andreas A. Kim, Managing Director, Lectra, Greater China. “Lectra Fashion PLM 4.0 is the only PLM solution purpose-designed for the fashion industry that covers the entire value chain. We hope to leverage our 44 years of experience in the fashion industry to help Jinfa Labi succeed through operational excellence.”
 

• Huntsman continues to inject its leading edge innovation in bangladesh to support textile industry with sustainable practices

Singapore - In a signing ceremony, Huntsman Textile Effects announced that it has extended the partnership and collaboration agreement with Viyellatex Group for another two years. The agreement will see the Viyellatex Group continuing to use Huntsman as its preferred and sole supplier for industry leading dyes, chemicals and dying auxiliaries. This partnership, now in its 17th year reinforces the recognition of Huntsman as a trusted and preferred supplier for the Viyellatex Group. Under this agreement, Huntsman will support Viyellatex’s Group of mills to streamline operations and optimize processes, train technical staff, and make recommendations to help improve yield and productivity. This strategic cooperation will enable Viyellatex Group to continue to achieve operational excellence.

“We are extremely pleased and proud of this continuing partnership with the Viyellatex Group. As a global leader in the transition to a more sustainable textiles sector, we are pleased to join hands with one of the country’s leading exporter of ready-made garments (RMG) and a supplier to leading international brands, commented Chuck Hirsch, Vice President, Sales and Technical Resources, Huntsman Textile Effects. “This cooperation agreement will also help Viyellatex Group to maintain its leading edge in the textile industry by leveraging on Huntsman’s R&D capabilities, innovation and focus on sustainability, while continuing to comply with the stringent requirements of its export customers around the world,” continued Mr Hirsh.

Speaking on the occasion Mr. David Hasanat, Chairman of Viyellatex Group said, “Viyellatex Group is the leading company in the area of sustainable apparel in Bangladesh. This continuing support and technical expertise from Huntsman will help us be more competitive in this increasingly challenging market. It will help us to comply with the stringent product demands from our global customers and better equip us to face challenges from the operational and environmental aspects.” He continues, “Viyellatex Group places strong emphasis on sustainability by minimizing energy usage, adopting waste and water recycling, and using only organic materials and environmentally compliant chemicals and dyes and Huntsman is the perfect partner in this regard as they share this vision.” “We are pleased to be conferred Preferred Supplier Status from Viyellatex Group, partnering with one of the leading apparel groups in Bangladesh” , said Mr. Dheeraj Talreja, Commercial Director - South Asia, Middle East & Africa of Huntsman Textile Effects. “This partnership is a great testament of our customers’ trust and confidence in Huntsman’s quality, proven expertise, products and service delivery,” he continued.

In conjunction with this signing ceremony and as an active supporter of Bangladesh’s textile industry, today Mr Hirsch also hosted a customer seminar for more than 500 customers and prospects in the country’s capital, to provide them with leading edge technologies to help them be more sustainable with competitive value-add to customers.

Huntsman Textile Effects holds regular seminars and workshops and also collaborates with textile mills and apparel manufacturers to adopt new technologies and processes that conserve resources, reduce waste and improve productivity.

Bangladesh’s textile industry is the nation’s largest export sector. The ready-made garment (RMG) sector is worth US$28.14* billion in 2016-2017, with more than 4,300 garment factories employing about 4 million people and accounting for 80.7% of the country’s total exports. To remain internationally competitive, local textile mills and RMG factories increasingly have to demonstrate that they operate in a socially and environmentally sustainable way.

• INVISTA to showcase ‘Innovative Attitude’ at Intertextile Shanghai Apparel Fabrics
• Innovative INVISTA products, findings from a new textile industry IP protection survey, in-depth consumer insights and fashion trends will be revealed

INVISTA, one of the world’s largest integrated producers of polymers and fibres, will showcase the innovative attitudes enabling it to maintain a leading position in the textile industry at the upcoming Rendez-Vous 2017 at October’s Intertextile Shanghai Apparel Fabrics – the world’s most influential apparel event. INVISTA Rendez-Vous will showcase innovative INVISTA products, offer consumer insights and reveal the results of a textile industry IP protection survey.

INVISTA Rendez-Vous 2017 will be held at Intertextile Shanghai Apparel Fabrics 11 – 13 October at the National Exhibition and Convention Center in Shanghai, with INVISTA occupying two booths in hall 5.2 E49 and hall 7.2 E55. 

As a global authoritative trade show in textile industry, Intertextile Shanghai Apparel Fabrics has been a platform for INVISTA to communicate with players across the value chain for 23 years. This year’s event will be no exception. The rich and vivid content delivered at the show will focus on INVISTA’s Innovative Attitude to consumers, partners as well as the whole industry.

To build a healthy and sustainable marketing environment, INVISTA cooperated with a number of media organisations to conduct a survey on IP protection in the textile industry. The results will be revealed during a seminar entitled ‘Innovation and IP: An Avenue for Sustainable Textile Industry Development’, which will be held on 11 October, 2:45 – 3:45pm in the Textile Dialogue area in hall 5.2. Representatives from textile industry associations, legal firms and INVISTA will share the findings and offer insights during what will undoubtedly be one of the highlights of INVISTA Rendez-Vous 2017.

The main pavilion of the show will be located in the International Hall (hall 5.2), where three of INVISTA’s most innovative products will be on show. Visitors will experience the latest possibilities offered by LYCRA® MOVESTM BRA, LYCRA® MOVESTM LEGGINGS and LYCRA® MOVESTM HOSIERY.

LYCRA® MOVESTM BRA

According to consumer research conducted in 2016, bra products in China’s domestic market don’t match consumer demands in a host of critical areas, including support, comfort and aesthetic design. To address these concerns, streamline the industry and consolidate its leadership, INVISTA is launching LYCRA® lastingFIT technology for bra wings. In addition, INVISTA’s cutting-edge technology can contribute to meeting specific quality standards in bra wing fabrics, enabling Chinese consumers to experience higher levels of comfort and the appropriate support they expect from a bra in different occasions.

LYCRA® MOVESTM LEGGINGS

INVISTA’s longstanding commitment to legging fabrics will also be on display at Rendez-Vous. INVISTA’s LYCRA® MOVESTM LEGGINGS has already spawned LYCRA® SPORT Power-Comfort-Energy (PCE™) index-certified fabrics, which are now commercially available.

The revolutionary fabrics present excellent recovery performance for LYCRA® SPORT legging products. They also offer the industry an opportunity to develop a number of targeted segment markets – from compression and medium compress to light compression leggings.

LYCRA® MOVESTM HOSIERY

LYCRA® MOVESTM HOSIERY is all about fabric technology innovation. Due to excellent properties, such as anti-laddering, fit and durability as well as comfortable waistbands, INVISTA’s LYCRA® FUSIONTM technology has already been widely adopted in China’s hosiery sector.

A Packed Pavilion

At the LYCRA® MOVESTM Denim pavilion in the Beyond Denim hall (7.2), visitors won’t just see the innovative denim products offered by INVISTA; they will also learn about three themes highlighted through consumer insights – fit, shape and embracing heat & cold. There will also be a special session outlining the latest woven bottom trends, hosted by INVISTA experts.

Introduced commercially in 2010, LYCRA® dualFX® dual core yarn technology provides denim with super stretch and super recovery that fits all day and every day. It effectively prevents seam slippage and uneven fabric surfaces, keeping denim looking good, feeling comfortable and fitting, which in turn creates new denim fabric applications and fashion trends in the China market.

Last But Not Least

An interactive program, that includes visitors uploading pictures they take at the INVISTA booth to the official INVISTA WeChat account, will give every visitor a chance to win a special INVISTA gift. Visit INVISTA at hall 5.2 E49 and hall 7.2 E55 from 11 – 13 October at Intertextile Shanghai Apparel Fabrics 2017.

On the occasion of the State Visit to Italy by Their Majesties The King and Queen of The Netherlands and a Dutch trade delegation led by the Minister for Foreign Trade and Development Cooperation, Mrs Lilianne Ploumen, the Italian and Dutch fashion and textile industry will join hands.
MODINT, the Dutch association for the Fashion and Textile industries and lead of the fashion mission and Sistema Moda Italia (SMI), the Italian association for the Fashion and Textile supply chain in Italy, have concluded a Memorandum of Understanding (MoU) which emphasizes the growing interaction between the Dutch and Italian fashion and textile industries.
During the Best of Both Event on Friday June 23rd in Milan, the Minister and a delegation of Dutch and Italian VIP’s and innovators active in the Fashion and Textile industry will witness the signing of a promising Memorandum of Understanding (MoU). The MoU defines actions by MODINT and SMI to help the Dutch and Italian fashion and textile industries work together on recycling, labour standards, sustainable raw materials and domestic production.
Modint and SMI are both members of the International Apparel Federation (IAF), an international organisation that supports industry development by helping to build intelligent connections among its members. In the MoU, Italian and Dutch businesses will explain how they cooperate, how they can support sustainable value chains, how they envision their business growing together in the coming years, and what their respective governments can do to support that growth.

C&A, one of Europe’s leading Fashion retailers has recently launched in its stores in 18 European markets the world’s first Cradle to Cradle CertifiedTM Gold products. These recyclable t-shirts are made of 100% organic cotton, with safe materials and chemicals and produced in a socially and environmentally responsible way. They have been certified at gold level by the Cradle-to Cradle Product Innovation Institute (C2CPII). The dyes used in the coloration of the shirts, which are available in two styles and 17 colors, were selected from the range of DyStar Levafix® and Remazol® reactive dyes which received C2C Gold Level certification for Material Health from C2CPII in 2016.
With a selection of apparel dyes for the fashion industry awarded a Gold-level Material Health Certificate, the DyStar Group strives to be part of a more sustainable future and growing a circular economy as well as reaffirms its commitment to environmental and human health. The styles were developed in close partnership with Fashion for Good. Created with funds granted by founding partner C&A Foundation, Fashion for Good is a global partnership that unites apparel producers, retailers, non-profit organizations, innovators and funders in the shared ambition to transform the apparel industry into a circular one.

 Patagonia’s Clean Color Collection is a new capsule collection that Patagonia has just released in the last days of April. The products in the collection have been colored with dyes made from natural sources, including, along with other supply sources, EarthColors by Archroma, a range of dyes synthesized from agricultural waste.
Many of Patagonia’s synthetic dyes use less water, energy and CO2 when compared with conventional processes, however Patagonia is always looking for ways to do less environmental harm. The company, who already collaborates with Archroma for the Patagonia Denim collection based on Archroma’s Advanced Denim, therefore contacted Archroma to have a closer look at Archroma’s EarthColors dyes. The selected EarthColors dyes are the gorgeous Palmetto Green and Citrus Brown colors made respectively from non-edible palmetto green parts and bitter orange peels left over from agriculture industry or pharmaceutical extraction.

EarthColors is a line of plant-based dyes, sourced from up to 100 percent renewable resources. The colors change and fade over time, which is part of what makes these dyes unique.
“We are so proud that, once again, Patagonia has chosen Archroma’s eco-advanced dyeing technologies for their newest sustainable clothing endeavor,” comments Paul Cowell, Head of Brand Marketing in Archroma’s Brand & Performance Textile Specialties business. “We at Archroma are committed to challenge the status quo in the deep belief that we can make our industry sustainable. Because it’s our nature! Trail blazers like Patagonia bring us invaluable support in accelerating sustainable concepts in the textile value chain. Together we are showing the apparel industry the way to go, one collection at a time.”