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Flametougher Photo Flametougher Carrington
Flametougher by Carrington
13.01.2025

Carrington: Stretch FR fabrics for workwear in the Middle East

The Middle East’s industrial sector is synonymous with high-risk environments, particularly in oil and gas production. Workers face hazards such as flash fires, chemical splashes and electric arcs—all within the context of demanding conditions, including sweltering heat and long shifts. In response to these challenges, flame-retardant (FR) fabrics with stretch properties are emerging as the next generation of protective workwear, delivering comfort, safety and durability.

Traditionally, FR fabrics prioritised protection over comfort. However, the increasing demand for ergonomic clothing has driven a shift towards stretch solutions. Thanks to innovations in textile engineering and the influence of modern fashion, these fabrics now combine unparalleled flexibility with the stringent safety standards required in high-risk industries.

The Middle East’s industrial sector is synonymous with high-risk environments, particularly in oil and gas production. Workers face hazards such as flash fires, chemical splashes and electric arcs—all within the context of demanding conditions, including sweltering heat and long shifts. In response to these challenges, flame-retardant (FR) fabrics with stretch properties are emerging as the next generation of protective workwear, delivering comfort, safety and durability.

Traditionally, FR fabrics prioritised protection over comfort. However, the increasing demand for ergonomic clothing has driven a shift towards stretch solutions. Thanks to innovations in textile engineering and the influence of modern fashion, these fabrics now combine unparalleled flexibility with the stringent safety standards required in high-risk industries.

Stretch fabrics such as Carrington Textiles’ Flametougher 290AS Flex and Flameflex 300AS demonstrate how this transition is not just a luxury but a necessity. Flametougher 290AS Flex, for example, incorporates 19.5% CORDURA® nylon 6,6 for exceptional durability and strength, blended with 78% cotton for lightweight comfort. At just 290gsm, it ensures workers maintain mobility without compromising on protection.

Meeting the needs of Middle Eastern workers, Flameflex 300AS, weighing 300gsm, provides a perfect balance of durability, flexibility and flame resistance. Its 83% cotton and 14% polyester composition ensures longevity, while 2% EOL fibres enable enhanced elasticity—critical for workers in physically intensive roles such as oil rig operations or refinery maintenance.

Flexibility in workwear isn’t just a matter of comfort, it’s a matter of safety. Restricted movement can lead to fatigue, reduced compliance with safety standards and accidents. Stretch FR fabrics excel in adaptability. Whether it’s a worker scaling scaffolding on an oil platform or handling maintenance in a petrochemical plant, garments made with stretch FR textiles allow for the unrestricted movement critical to performing tasks safely.

The rise of these type of fabrics also owes much to the fashion industry. Decades of innovation in stretch garments for everyday use have created a ripple effect in workwear. Workers increasingly expect the same level of comfort and fit in their protective clothing, and manufacturers are responding.

Sustainability Report Dibella © Dibella b.v.
10.12.2024

Dibella publishes latest sustainability report

Dibella‘s latest sustainability report covers the period from January 1st, 2023 to July 31st, 2024 and documents progress and future plans in the areas of environmental, social and corporate governance.

Dibella laid the foundations for corporate social responsibility back in the early 2010s. Since then, the company has been consistently committed to the implementation of socially and environmentally consciously produced textiles and has initiated and completed numerous lighthouse projects in the supply chain. Dibella presented its activities and goals for the first time in 2012 in its sustainability report. Since then, the company has documented its progress at regular intervals.

Dibella‘s latest sustainability report covers the period from January 1st, 2023 to July 31st, 2024 and documents progress and future plans in the areas of environmental, social and corporate governance.

Dibella laid the foundations for corporate social responsibility back in the early 2010s. Since then, the company has been consistently committed to the implementation of socially and environmentally consciously produced textiles and has initiated and completed numerous lighthouse projects in the supply chain. Dibella presented its activities and goals for the first time in 2012 in its sustainability report. Since then, the company has documented its progress at regular intervals.

Environment
Particularly noteworthy are the constant proportion of GOTS and Fairtrade-certified products and a significant increase in the implementation of Cotton made in Africa cotton in the supply chain using the mass balance system: from 300 tonnes in 2023 to 750 tonnes in 2024. Another highlight is the reforestation project in Tamil Nadu, India, where over 4,000 trees have already been planted to offset CO₂ emissions. As a founding member of CIBUTEX, Dibella is also committed to the recovery of textile resources and the associated reduction of environmental pollution.

Social
Dibella has initiated and completed various social projects. One example is the improvement of working conditions in the supply chain by providing ergonomic seating for employees of a Pakistani clothing manufacturer. Dibella's own GoodTextiles Foundation also supports educational projects in India and drinking water initiatives in Africa. Measures have been introduced within the company to promote a good working environment.

Corporate Governance
99.5 per cent of textiles are now labelled with the Green Button, which confirms compliance with the Supply Chain Duty of Care Act. In addition, digital transparency tools such as the respect-code, which disclose the origin and production steps of the goods, have been further expanded. Following the coronavirus-related travel restrictions, business trips to India were also resumed in order to familiarise customers and interested parties with the positive ecological and social framework conditions of the supply chain.

Goals for the future
By 2030, company-related CO2 emissions are to be reduced by 45% and the proportion of organic Fairtrade cotton is to be increased to 20%. Overall, the proportion of sustainable cotton is to be increased to 70% of production. The company will continue to focus on sustainable innovation and transparency in the future.

Source:

Dibella b.v.

Textilrecycling Graphik: Andritz
28.11.2024

ANDRITZ: Engineering order for textile recycling plant from Circ®

International technology group ANDRITZ has received an engineering order from US textile recycling innovator Circ in anticipation of its first large-scale textile recycling plant. The plant will be the first to recover cotton and polyester from blended textile waste.

Circ® is a pioneering company focused on sustainable solutions for the fashion industry. By converting fashion waste into reusable raw materials for fabrics, Circ reduces the need for petroleum and natural resources. The company’s mission is to build a truly circular economy to protect the planet from the cost of clothing.

ANDRITZ has been successfully conducting trials for Circ at the ANDRITZ Fiber R&D Center in Springfield, Ohio, USA, for several years. The successful partnership and recent developments have led to the decision to expand this cooperation.

International technology group ANDRITZ has received an engineering order from US textile recycling innovator Circ in anticipation of its first large-scale textile recycling plant. The plant will be the first to recover cotton and polyester from blended textile waste.

Circ® is a pioneering company focused on sustainable solutions for the fashion industry. By converting fashion waste into reusable raw materials for fabrics, Circ reduces the need for petroleum and natural resources. The company’s mission is to build a truly circular economy to protect the planet from the cost of clothing.

ANDRITZ has been successfully conducting trials for Circ at the ANDRITZ Fiber R&D Center in Springfield, Ohio, USA, for several years. The successful partnership and recent developments have led to the decision to expand this cooperation.

The majority of fashion waste consists of polyester-cotton blends, which poses a significant challenge to achieving greater circularity. In particular, the separation of cellulosic and synthetic fibers from textile waste has been a major obstacle. Circ’s innovative recycling process can break down polycotton textile waste into its original components – polyester and cotton. The forthcoming plant will process 200 tons of textile waste per day, allowing cotton to be recycled for lyocell production and polyester to be reused for polyester production. This will reduce the need for virgin raw materials.

Conor Hartman, Chief Operating Officer at Circ, says: “We remain excited about this continued collaboration with ANDRITZ. Together, we will commercialize Circ’s innovative recycling process and take another step towards a truly circular fashion industry. With its expertise in engineering and building large-scale process equipment, ANDRITZ is the right partner to help us transform textile waste into recycled fibers on an industrial level.

Michael Waupotitsch, Vice President Textile Recycling at ANDRITZ, comments: “We are eager to support Circ in their vision of circularity because the technology they have developed is uniquely suited to solve one of the biggest challenges in fashion waste and recycling. With our holistic knowledge in resizing, mechanical separation, hydrothermal processing, recovery of cellulosic pulp as well as pulp cleaning and pulp drying, we have the right expertise to help them achieve their goals. Our experience in process development and machinery will help bring their innovative recycling technology to life.”

30.10.2024

World’s first sports t-shirt made from 100% textile waste

For the first time, a piece of clothing is made entirely from textile waste – no bottles, no packaging, no virgin plastic. 100% biorecycled fibers. By developing and industrializing CARBIOS’ enzymatic depolymerization technology to achieve 100% “fiber-to-fiber” recycling, the consortium collectively advances the textile industry's shift towards a circular economy.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and its “fiber-to-fiber” consortium partners On, Patagonia, PUMA, Salomon, and PVH Corp., parent company of Calvin Klein, unveil the world’s first enzymatically recycled polyester garment made from 100% textile waste using CARBIOS’ pioneering biorecycling technology.

For the first time, a piece of clothing is made entirely from textile waste – no bottles, no packaging, no virgin plastic. 100% biorecycled fibers. By developing and industrializing CARBIOS’ enzymatic depolymerization technology to achieve 100% “fiber-to-fiber” recycling, the consortium collectively advances the textile industry's shift towards a circular economy.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and its “fiber-to-fiber” consortium partners On, Patagonia, PUMA, Salomon, and PVH Corp., parent company of Calvin Klein, unveil the world’s first enzymatically recycled polyester garment made from 100% textile waste using CARBIOS’ pioneering biorecycling technology.

This technological feat contributes to advancing textile circularity when, today, the majority of recycled polyester is made from PET bottles, and only 1% of fibers are recycled into new fibers.  The collective achievement marks an important milestone for the consortium’s ultimate aim of demonstrating fiber-to-fiber closed loop using CARBIOS’ biorecycling process at an industrial scale, and marks an important step forward for the textile industry’s shift towards a circular economy.

A plain, white T-shirt was a deliberate choice to showcase the technological achievement that made its production possible from mixed and colored textile waste.  By using CARBIOS’ biorecycling technology, polyester is broken down using enzymes into its fundamental building blocks which are reformed to produce biorecycled polyester whose quality is on par with oil-based virgin polyester.  Petroleum can now be replaced by textile waste as a raw material to produce polyester textiles, that will in turn become raw materials again, thus fueling a circular economy, with the added benefit of a lower carbon footprint and avoidance of landfill or incineration.

The t-shirt’s production began with all consortium members (On, Patagonia, PUMA, PVH Corp. and Salomon) supplying rolls and production cutting scraps to CARBIOS in Clermont-Ferrand, France.  This textile waste consisted of some mixed blends with cotton or elastane, as well as various treatments (such as durable water repellent) and dyes which render them complex to recycle using conventional methods. The collected waste was deconstructed into its original monomers, PTA and MEG, using CARBIOS’ biorecycling technology at its pilot facility. The resulting monomers were then repolymerized, spun into yarn and woven into new fabric by external partners, demonstrating the seamless integration into existing manufacturing processes.  The resulting sports t-shirt made from 100% textile waste meets the quality standards and sustainability objectives of the apparel brands present in the “fiber-to-fiber” consortium.

CARBIOS’ demonstration plant in Clermont-Ferrand, France, has been up and running since 2021, and its first commercial plant, the world’s first industrial-scale enzymatic PET recycling plant, is currently under construction in Longlaville, France.  In addition, CARBIOS recently announced several letters of intent with PET producers in Asia and Europe, confirming global interest in its biorecycling technology and advancing the international roll-out of its licensing model.

Source:

Carbios

Determination of the bacterial penetration with the ReBa2 test device Foto: DITF
Determination of the bacterial penetration with the ReBa2 test device
08.10.2024

Cleanzone Award 2024 for new testing method for cleanroom garments

The Cleanzone, the trade fair for cleanroom and purity technology, hygiene and contamination control, took place in Frankfurt am Main on September 25 and 26, 2024. The Cleanzone Award is presented at the trade fair to recognize groundbreaking advances in innovation, automation, sustainability and efficiency in the field of cleanroom technology. This year, the award went to the German Institutes of Textile and Fiber Research Denkendorf (DITF) and the Dastex Group GmbH for the development of a test method for cleanroom garments - the ReBa2.

The Cleanzone, the trade fair for cleanroom and purity technology, hygiene and contamination control, took place in Frankfurt am Main on September 25 and 26, 2024. The Cleanzone Award is presented at the trade fair to recognize groundbreaking advances in innovation, automation, sustainability and efficiency in the field of cleanroom technology. This year, the award went to the German Institutes of Textile and Fiber Research Denkendorf (DITF) and the Dastex Group GmbH for the development of a test method for cleanroom garments - the ReBa2.

With the Realistic Bacterial Barrier (ReBa2) test method, the DITF offer a new biological method for determining the bacterial penetration for cleanroom garment textiles. Particularly in the manufacturing of sterile pharmaceuticals, bacteria, skin flakes and fiber particles that can originate from persons and their clothing pose a risk to the products manufactured in the cleanroom. Special cleanroom garments have the task of minimizing this risk. To assess the barrier function, the “bacterial penetration” is determined, among other properties. This provides information on how many bacteria from the human skin flora pass through the cleanroom garments to the outside when worn.

The ReBa2 test method largely reproduces the situation when wearing cleanroom garments and thus enables a meaningful determination of the bacterial penetration. It is also possible to consider numerous test scenarios. In addition to the influence of intermediate garments worn under the cleanroom garments, the sweating process or the pre-wetting of the cleanroom garments by liquid splashes in the manufacturing process or by disinfectants can also be tested. The method was developed at the DITF in collaboration with the Dastex Group GmbH.

eBay launches Pre-Loved Fashion Week with Circular Fashion Photo: Unsplash, Rudy Issa
02.09.2024

eBay launches Pre-Loved Fashion Week with Circular Fashion

eBay announced its inaugural Pre-Loved Fashion Week, in partnership with Council of Fashion Designers of America (CFDA) and British Fashion Council (BFC).

“Endless Runway” will feature pre-loved looks from CFDA members Ralph Lauren, Brandon Maxwell, Catherine Holstein of Khaite, Mike Eckhaus and Zoe Latta of Eckhaus Latta, and the late Virgil Abloh of Off-White. The show on Sept. 5, a day before the Official New York Fashion Week Schedule kicks off, is followed by daily drops on eBay curating the best pre-loved fashion from top designers. The London edition will take place on Sept. 12.

Curated by fashion creative Wisdom Kaye and hosted by fashion writer Liana Satenstein in New York, the Endless Runway shows are accessible to U.S. and U.K.-based shoppers via eBay Live. The Endless Runway shows will make eBay’s wide selection of pre-owned designer clothing and accessories immediately shoppable, while tapping into the global demand for circular fashion.

eBay announced its inaugural Pre-Loved Fashion Week, in partnership with Council of Fashion Designers of America (CFDA) and British Fashion Council (BFC).

“Endless Runway” will feature pre-loved looks from CFDA members Ralph Lauren, Brandon Maxwell, Catherine Holstein of Khaite, Mike Eckhaus and Zoe Latta of Eckhaus Latta, and the late Virgil Abloh of Off-White. The show on Sept. 5, a day before the Official New York Fashion Week Schedule kicks off, is followed by daily drops on eBay curating the best pre-loved fashion from top designers. The London edition will take place on Sept. 12.

Curated by fashion creative Wisdom Kaye and hosted by fashion writer Liana Satenstein in New York, the Endless Runway shows are accessible to U.S. and U.K.-based shoppers via eBay Live. The Endless Runway shows will make eBay’s wide selection of pre-owned designer clothing and accessories immediately shoppable, while tapping into the global demand for circular fashion.

Endless Runway will be the first entirely ‘pre-loved’ runway show at NYFW. eBay will continue to showcase its selection by releasing ‘Daily Edits’ every day of NYFW that feature pre-owned pieces from designers showing their new collections in New York.

Source:

Council of Fashion Designers of America, Inc. (CFDA)

23.08.2024

Expansion of service and spare parts business at Oerlikon Polymer Processing Solutions

The Oerlikon Polymer Processing Solutions Division of the Swiss Oerlikon Group is expanding its customer services and spare parts business in the area of machines and systems for the production of carpet yarns (BCF) and industrial yarns (IDY). To this end, the company concluded an agreement with the Truetzschler Group, based in Moenchengladbach, Germany, in August. Technology experts and service staff from Oerlikon Neumag are now the new contacts for customer services and the spare parts business for Truetzschler's BCF and IDY technologies installed in the market. The Moenchengladbach-based textile machinery manufacturer is withdrawing from this business segment in order to concentrate on the spinning, card clothing and nonwovens businesses in future.

Oerlikon Polymer Processing Solutions offers complete solutions for the manmade fiber industry. They range from extrusion and polycondensation plants to texturized yarn, and are accompanied by automation and digital solutions. The supply of all process steps from a single source ensures a harmonized technology that guarantees high quality of the yarns produced.

The Oerlikon Polymer Processing Solutions Division of the Swiss Oerlikon Group is expanding its customer services and spare parts business in the area of machines and systems for the production of carpet yarns (BCF) and industrial yarns (IDY). To this end, the company concluded an agreement with the Truetzschler Group, based in Moenchengladbach, Germany, in August. Technology experts and service staff from Oerlikon Neumag are now the new contacts for customer services and the spare parts business for Truetzschler's BCF and IDY technologies installed in the market. The Moenchengladbach-based textile machinery manufacturer is withdrawing from this business segment in order to concentrate on the spinning, card clothing and nonwovens businesses in future.

Oerlikon Polymer Processing Solutions offers complete solutions for the manmade fiber industry. They range from extrusion and polycondensation plants to texturized yarn, and are accompanied by automation and digital solutions. The supply of all process steps from a single source ensures a harmonized technology that guarantees high quality of the yarns produced.

Based in Neumuenster, Germany, Oerlikon Neumag, a branch of Oerlikon Textile GmbH & Co. KG and a brand of the Oerlikon Polymer Processing Solutions Division, has been an established and broadly positioned international supplier with proven expertise in the field of BCF for decades. The division's sister company Oerlikon Barmag from Remscheid, Germany, contributes its expertise in the field of IDY systems.

Source:

Oerlikon Textile GmbH & Co. KG

09.08.2024

Trützschler Group at CAITME 2024

From September 11 to 14, 2024, the Trützschler Group will present its latest innovations at CAITME in Tashkent, Uzbekistan - featuring machines and technologies in spinning, card clothing and nonwovens.

Trützschler Spinning
A highlight will be Trützschler’s next generation card, the TC 30i. In recent customer trials, the TC 30i has achieved up to 40 % higher productivity while reducing energy consumption by up to -18 %. In addition, the team will share insights about the Integrated Draw Frame IDF 3, which enables shortened processes that save resources, energy and production space. Visitors will also have the opportunity to discover the TCO 21XL, a 12-head comber. This comber makes it possible to increase productivity by 50 %, while requiring 25 % less space.

Visitors will also get the chance to learn about Trützschler’s new brand for textile recycling, TRUECYCLED. The company enables its customers to produce high quality tapes while turning waste into value.

From September 11 to 14, 2024, the Trützschler Group will present its latest innovations at CAITME in Tashkent, Uzbekistan - featuring machines and technologies in spinning, card clothing and nonwovens.

Trützschler Spinning
A highlight will be Trützschler’s next generation card, the TC 30i. In recent customer trials, the TC 30i has achieved up to 40 % higher productivity while reducing energy consumption by up to -18 %. In addition, the team will share insights about the Integrated Draw Frame IDF 3, which enables shortened processes that save resources, energy and production space. Visitors will also have the opportunity to discover the TCO 21XL, a 12-head comber. This comber makes it possible to increase productivity by 50 %, while requiring 25 % less space.

Visitors will also get the chance to learn about Trützschler’s new brand for textile recycling, TRUECYCLED. The company enables its customers to produce high quality tapes while turning waste into value.

Trützschler Card Clothing
Trützschler Card Clothing (TCC) will present a range of technologies from its card clothing portfolio, covering the full spectrum of applications in the spinning and nonwovens markets. A key feature will be the Flexible Bend Control (FBC), which ensures flat setting for all card models within a few seconds and guarantees optimum quality.

Trützschler Nonwovens
Trützschler Nonwovens will focus on solutions for the production of cotton nonwovens for wipes, pads and medical products from virgin fibers, comber noils or blends. In addition, the team will provide insights into T-SUPREMA needle-punching lines and show its solutions for the specific requirements of high-potential markets such as geotextiles, filter media, automotive textiles or other durable products.

Spinning technical yarns Photo Oerlikon Neumag
08.08.2024

India: Technical textiles on the rise

As a traditional textile country, India has also established a strong position in the field of manmade fiber production in recent decades. The West Asian country has now become the second largest polyester yarn manufacturer in the world. The Indian textile industry covers the entire value chain from the melt to the finished textile end product.

The technical textiles sector in particular is regarded as a future market. With an average growth rate of 12% since 2013, this dynamic sector accounts for around 13% of the entire Indian textile and clothing market, according to the government organization Invest India. The market volume has almost doubled in the past ten years. In India, the production of industrial yarn has so far relied heavily on polyamide. Oerlikon Barmag has a strong market position here. "In recent years, we have commissioned plants for numerous customers," says Dr. Wolfgang Ernst, Head of Sales of the Oerlikon Business Unit Manmade Fibers Solutions.

As a traditional textile country, India has also established a strong position in the field of manmade fiber production in recent decades. The West Asian country has now become the second largest polyester yarn manufacturer in the world. The Indian textile industry covers the entire value chain from the melt to the finished textile end product.

The technical textiles sector in particular is regarded as a future market. With an average growth rate of 12% since 2013, this dynamic sector accounts for around 13% of the entire Indian textile and clothing market, according to the government organization Invest India. The market volume has almost doubled in the past ten years. In India, the production of industrial yarn has so far relied heavily on polyamide. Oerlikon Barmag has a strong market position here. "In recent years, we have commissioned plants for numerous customers," says Dr. Wolfgang Ernst, Head of Sales of the Oerlikon Business Unit Manmade Fibers Solutions.

Increasing demand for industrial polyester yarns
The construction boom and the increasing use of geotextiles and industrial textiles in various infrastructure projects as well as in agriculture and aquaculture show enormous growth potential. This is supported by the government's 2021 industrial development program, which includes technical textiles as one of ten priority sectors. The program is based on reducing dependence on imports. Until now, a large proportion of the technical textiles and yarns required in the country have been imported.

The trend towards high-quality technical textiles for the domestic market has also been noted by the Remscheid-based machine and plant manufacturer. "We are receiving more and more inquiries from Indian customers for spinning systems for industrial yarns," says Dr. Wolfgang Ernst. "What is new is the great interest shown by companies from downstream processes that are looking for backward integration. We attribute this to the stricter regulations of the Bureau of Indian Standards. Until now, industrial yarns were mainly imported from China. In order to guarantee the quality of the processed yarns, this has been strictly regulated by the government since last year. It therefore makes sense for Indian textile producers to enter the yarn manufacturing sector." This development was also noticeable at this year's Techtextil in Frankfurt, where the experts from Oerlikon Barmag were able to hold a disproportionately high number of technical discussions with Indian customers and interested parties.

The flexible spinning concepts of Oerlikon Barmag enable a variety of possible yarn products for numerous applications. The portfolio includes processes for the production of polyamide and polyester yarns with the required physical properties for a wide range of end applications, whether HMLS yarns for car tires, yarns for geotextiles, safety belts or even airbags.

More information:
Oerlikon Neumag
Source:

Oerlikon Barmag

07.08.2024

Lenzing: Improvement in Operating Result

  • Revenue up 4.8 percent year-on-year to EUR 1.31 bn in the first half of 2024
  • Performance program shows effect: EBITDA up 20.4 percent year-on-year to EUR 164.4 mn in in the first half of 2024
  • Free cash flow of EUR 141.5 mn (compared with minus EUR 165.4 mn in in the first half of 2023)
  • Lenzing confirms EBITDA guidance for 2024

The Lenzing Group reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.

Outlook
The IMF left its growth forecast for 2024 unchanged at 3.2 percent and raised it to 3.3 percent for 2025. Nevertheless, a number of risks for the global economy remain.

Forecasting future economic growth is rendered more difficult by smoldering global conflicts, trade disputes, and the uncertain outcome of elections, including the USA and the EU.

  • Revenue up 4.8 percent year-on-year to EUR 1.31 bn in the first half of 2024
  • Performance program shows effect: EBITDA up 20.4 percent year-on-year to EUR 164.4 mn in in the first half of 2024
  • Free cash flow of EUR 141.5 mn (compared with minus EUR 165.4 mn in in the first half of 2023)
  • Lenzing confirms EBITDA guidance for 2024

The Lenzing Group reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.

Outlook
The IMF left its growth forecast for 2024 unchanged at 3.2 percent and raised it to 3.3 percent for 2025. Nevertheless, a number of risks for the global economy remain.

Forecasting future economic growth is rendered more difficult by smoldering global conflicts, trade disputes, and the uncertain outcome of elections, including the USA and the EU.

Consumers are holding back on unnecessary purchases in an environment of rising prices, falling real wages in some cases, and concerns about economic growth. This is hampering a revival of the consumer apparel market, which is important for Lenzing.

The currency environment is expected to remain volatile in the regions relevant to Lenzing.

In the trend-setting market for cotton, a reduction in stock levels and a stable price trend at a low level is expected for the remainder of the 2023/2024 harvest season.

Earnings visibility remains limited overall.

Revenue and earnings in the first half of the year exceeded Lenzing’s expectations, despite the persistently difficult market. Lenzing is ahead of schedule with the implementation of its performance program. The company expects that the measures will make a greater contribution to further improving earnings in the coming quarters.

Taking the aforementioned factors into consideration, the Lenzing Group confirms its guidance for the 2024 financial year of year-on-year higher EBITDA.

Structurally, Lenzing continues to anticipate growth in demand for environmentally responsible fibers for the textile and clothing industry as well as for the hygiene and medical sectors. As a consequence, Lenzing is very well positioned with its strategy and is pushing both profitable growth with specialty fibers and the further expansion of its market leadership in the sustainability area.

Source:

Lenzing AG

KARL MAYER launches new Elastomeric Raschel machine (c) KARL MAYER
15.07.2024

KARL MAYER launches new Elastomeric Raschel machine

KARL MAYER launches its RE 4-1, a new Raschel machine for the efficient production of highly elastic textiles. With this newcomer, KARL MAYER is expanding its Elastomeric series and supplementing the established RE 4-1 as part of its two-product line strategy. With the price-performance ratio, the machine fulfils the requirements of the volume business in particular.

A 170″ version of the machine has already been on sale in China for several months. The pre-release got off to a successful start. Encouraged by the feedback from the market, KARL MAYER has developed an RE 4-1 with a working width of 190″ and will be offering both models to its global customers from middle of July 2024.

The RE 4-1 can be ordered with E 28 and E 32 gauges. The 170" version is also available with E 36. The standard equipment includes KAMCOS® 2, batching device 18 E, Carbon fibre technology and N-pattern drive for controlling the guide bars: stitch-forming GB 1 to GB 3 and inlayGB 4. There are also optional features, including sensors for measuring the yarn tension, laser stop, batching device 34 A, LED lighting and an installation kit.

KARL MAYER launches its RE 4-1, a new Raschel machine for the efficient production of highly elastic textiles. With this newcomer, KARL MAYER is expanding its Elastomeric series and supplementing the established RE 4-1 as part of its two-product line strategy. With the price-performance ratio, the machine fulfils the requirements of the volume business in particular.

A 170″ version of the machine has already been on sale in China for several months. The pre-release got off to a successful start. Encouraged by the feedback from the market, KARL MAYER has developed an RE 4-1 with a working width of 190″ and will be offering both models to its global customers from middle of July 2024.

The RE 4-1 can be ordered with E 28 and E 32 gauges. The 170" version is also available with E 36. The standard equipment includes KAMCOS® 2, batching device 18 E, Carbon fibre technology and N-pattern drive for controlling the guide bars: stitch-forming GB 1 to GB 3 and inlayGB 4. There are also optional features, including sensors for measuring the yarn tension, laser stop, batching device 34 A, LED lighting and an installation kit.

With its technical configuration, the RE4-1 is optimised for the production of elastic and non-elastic standard fabrics, especially for the underwear sector. One of the top products of the Raschel machine with its high productivity and short amortisation time is elastic Power net. This open-meshed, airy fabric has become an indispensable part of the lingerie and clothing sector. It is often used in the wings of bras as well as for inserts in sports leggings, shirts, jackets and swimwear, where it provides delicate control and comfort. Power net can also be found in semi-technical applications, for example as outer and inner pockets for rucksacks and clothing.
In addition to Power net, Raschel Locknit, Sleek net and Satin net are also part of the production repertoire of RE 4-1. The fabrics with a decreasing density from Raschel Locknit to Satin net also play a role in underwear and clothing production. For their production, filament yarn is threaded in the front two guide bars and elastane in the back ones.

Source:

KARL MAYER Verwaltungsgesellschaft AG

15.07.2024

ACI: Launch of Bio-Based Textiles in Clothing: Europe 2025 Conference

ACI announces the launch of its conference, Bio-Based Textiles in Clothing: Europe 2025.

Following in the footsteps of the successful Biobased Coatings Europe series with latest edition bringing together over 160 senior level attendees in Valencia in June 2024, this inaugural conference will explore the latest advancements in sustainable clothing made from renewable resources.

Taking place on the 15th & 16th January 2025 in Helsinki, Finland, just after the EU's pivotal Textile EPR Directive comes into force, this event will provide a deep dive into the world of bio-based textiles, examining how plants, microbes, and other novel organic feedstock are being revolutionised into sustainable, stylish garments.

ACI announces the launch of its conference, Bio-Based Textiles in Clothing: Europe 2025.

Following in the footsteps of the successful Biobased Coatings Europe series with latest edition bringing together over 160 senior level attendees in Valencia in June 2024, this inaugural conference will explore the latest advancements in sustainable clothing made from renewable resources.

Taking place on the 15th & 16th January 2025 in Helsinki, Finland, just after the EU's pivotal Textile EPR Directive comes into force, this event will provide a deep dive into the world of bio-based textiles, examining how plants, microbes, and other novel organic feedstock are being revolutionised into sustainable, stylish garments.

Source:

ACI (Europe)

Mayer & Cie. at ITM (c) Mayer & Cie
Relanit 3.2 HS II
18.06.2024

Mayer & Cie. at ITM

Mayer & Cie. presented an overview of its current portfolio in the circular knitting sector at the ITM in Istanbul. Two machine types – the SF4 3.2 III and the Relanit 3.2 HS II – and various smart solutions that make circular knitting more efficient were on display. knithawk, a tool for the optical detection of knitting defects, met with interest among the visitors. The same was true for knitlink, Mayer & Cie's hub for digital solutions. Spare parts packages and conversion kits are also in demand for the long-term value retention of Mayer & Cie. machines.

Relanit 3.2 HS II
The Relanit 3.2 HS mechanical single jersey machine offers high productivity, especially in the context of elastic plating. It processes a wide range of yarns and qualities reliably. It is suitable for processing recycled yarns. Their energy consumption is up to a third lower than that of a circular knitting machine with conventional technology.

Mayer & Cie. presented an overview of its current portfolio in the circular knitting sector at the ITM in Istanbul. Two machine types – the SF4 3.2 III and the Relanit 3.2 HS II – and various smart solutions that make circular knitting more efficient were on display. knithawk, a tool for the optical detection of knitting defects, met with interest among the visitors. The same was true for knitlink, Mayer & Cie's hub for digital solutions. Spare parts packages and conversion kits are also in demand for the long-term value retention of Mayer & Cie. machines.

Relanit 3.2 HS II
The Relanit 3.2 HS mechanical single jersey machine offers high productivity, especially in the context of elastic plating. It processes a wide range of yarns and qualities reliably. It is suitable for processing recycled yarns. Their energy consumption is up to a third lower than that of a circular knitting machine with conventional technology.

In Istanbul, Mayer & Cie. presented an updated version of its flagship, the Relanit 3.2 HS II. The new open-width take down is the single component that attracted the most interest. It ensures a uniform pull-off tension of the knitted fabric over its entire circumference. The knitted hose is only opened below the take-down rollers. Furthermore, the take-dwon is equipped with two drives: one for tensioning, one for rewinding. Both can be controlled separately.

Another innovation of the Relanit 3.2 HS is aimed at reducing downtimes: The needle with predetermined breaking point, which was developed together with Groz-Beckert, prevents it from breaking uncontrollably and, in the worst case, breaking needle butt. The new spring sinker is also a joint development with Groz-Beckert. This makes the Relanit 3.2 HS II run more smoothly, produce less noise as well as with less wear and tear.

SF4-3.2 III for lightweight three-tread fleece knitted fabrics
With its SF4-3.2 III, Mayer & Cie. is addressing a trend in the clothing industry that is reflected beyond Turkey: lightweight, elastic three-thread knitted fabrics in both pure cotton and blends.

New Control 5.0 machine control system
Both ITM machine exhibits were on display with the new Control 5.0 machine control system. Control 5.0 is a prerequisite for using knitlink, the hub for Mayer & Cie's digital applications. In this function, the machine control system attracted interest from various large customers.

In the standard SmartControl version, as shown in Istanbul, a so-called Smart Knob is attached to each machine foot. From there, all the functions that the machine operator needs for his work are available. More in-depth settings, such as those made by the knitting manager, are only possible from a mobile device. Any number of Mayer & Cie. machines can be operated from this at the same time.

knithawk
knithawk, a tool for optical defect detection, inspects the knitted fabric as it is produced. It sits in the single jersey machine directly at the knitting point. If knithawk detects a serious or recurring error, the machine is stopped. The tool also creates an error log.

Machine-specific upgrade and conversion kits
With its upgrade kits, Mayer & Cie. brings technological innovations to existing machines. These range from machine-specific upgrades, such as the Performance Kit for existing Relanit 3.2 models to the Senso Blue RS lubrication system.

In addition to the upgrade kits, Mayer & Cie. offers conversion kits for popular machine types. Two are currently available: for the MV4 3.2 II/MBF 3.2 and the S4-3.2 II/ SF4-3.2 III.

Source:

Mayer & Cie.

Hohenstein: Artificial intelligence for workwear (c) Sizekick
15.05.2024

Hohenstein: Artificial intelligence for workwear

An innovative web application now enables independent, flexible, and digital fitting when selecting workwear. By using Sizekick's AI-based technology, which the start-up developed together with Hohenstein, the textile service provider Elis is offering its customers personalised size recommendations based on individual body measurements for the first time.

The web application implemented by Sizekick in collaboration with Elis uses a two-stage process to determine the right size for the web shop’s customers: First, realistic body shapes are suggested and selected using the BodyFinder. Then, sizing is completed with the BodyScanner, a video-based body scan using a smartphone camera. The data is transmitted anonymously, so only the correct clothing size is sent to Elis, and the entire user-friendly sizing process only takes a few minutes.

An innovative web application now enables independent, flexible, and digital fitting when selecting workwear. By using Sizekick's AI-based technology, which the start-up developed together with Hohenstein, the textile service provider Elis is offering its customers personalised size recommendations based on individual body measurements for the first time.

The web application implemented by Sizekick in collaboration with Elis uses a two-stage process to determine the right size for the web shop’s customers: First, realistic body shapes are suggested and selected using the BodyFinder. Then, sizing is completed with the BodyScanner, a video-based body scan using a smartphone camera. The data is transmitted anonymously, so only the correct clothing size is sent to Elis, and the entire user-friendly sizing process only takes a few minutes.

Source:

Hohenstein

08.05.2024

Lenzing: Revenue and earnings growth in first quarter of 2024

  • Revenue up 5.7 percent year-on-year to EUR 658.4 million
  • EBITDA more than doubles year-on-year to EUR 71.4 million
  • Free cash flow of EUR 87.3 million (compared with minus EUR 132.3 million in the first quarter of 2023) and thereby positive for the third consecutive quarter
  • Performance program shows positive effect on revenue, EDITDA, and free cash flow
  • Lenzing confirms EBITDA guidance for 2024

The Lenzing Group, a leading supplier of regenerated cellulose for the textile and nonwovens industries, recorded a further improvement in fiber sales volumes in the first quarter of 2024. An expected recovery in markets relevant for Lenzing has to date failed to materialize. Fiber prices remained at a low level. Although the costs of raw materials and energy continued to decrease, they remained higher than in the pre-crisis 2019 year.

  • Revenue up 5.7 percent year-on-year to EUR 658.4 million
  • EBITDA more than doubles year-on-year to EUR 71.4 million
  • Free cash flow of EUR 87.3 million (compared with minus EUR 132.3 million in the first quarter of 2023) and thereby positive for the third consecutive quarter
  • Performance program shows positive effect on revenue, EDITDA, and free cash flow
  • Lenzing confirms EBITDA guidance for 2024

The Lenzing Group, a leading supplier of regenerated cellulose for the textile and nonwovens industries, recorded a further improvement in fiber sales volumes in the first quarter of 2024. An expected recovery in markets relevant for Lenzing has to date failed to materialize. Fiber prices remained at a low level. Although the costs of raw materials and energy continued to decrease, they remained higher than in the pre-crisis 2019 year.

Outlook
Even though the IMF has upgraded its growth forecast for 2024 from 3.1 percent to 3.2 percent, a number of risks remain for the global economy: potential geopolitical shocks, persistently higher inflation and key interest rates, as well as market risks emanating from the Chinese real estate market are currently considered to be the most relevant.

General inflation and falling incomes in real terms are continuing to exert a negative impact on consumer sentiment. A recovery in the consumer clothing market, which is important for Lenzing, will also depend on a further normalization of stock levels.

The currency environment is expected to remain volatile in regions relevant to Lenzing.

In the trend-setting market for cotton, a stable price trend is expected for the 2023/2024 harvest season.

Earnings visibility remains limited overall.

Revenue and earnings in the first quarter exceeded Lenzing’s expectations, despite the persistently difficult market. Lenzing is ahead of schedule with the implementation of its performance program. By appointing a separate Managing Board member, the projects identified to date are to be implemented even more rapidly, and new potentials are to be leveraged. Lenzing expects that these measures will increasingly contribute to further earnings improvement over the coming quarters compared to the first quarter of 2024.

Taking the aforementioned factors into consideration, the Lenzing Group confirms its guidance for the 2024 financial year of year-on-year higher EBITDA.

In structural terms, Lenzing continues to anticipate growth in demand for environmentally responsible fibers for the textile and clothing industry as well as the hygiene and medical sectors. As a consequence, Lenzing is well positioned with its “Better Growth” strategy and plans to continue driving growth with specialty fibers as well as its sustainability goals, including the transformation from a linear to a circular economy model.

Source:

Lenzing Group

UNIQLO: Clothing Partner for Singapore Paralympics team (c) FAST RETAILING CO., LTD. / UNIQLO CO., LTD.
06.05.2024

UNIQLO: Clothing Partner for Singapore Paralympics team

Global apparel retailer UNIQLO announces that it has signed a partnership agreement with the Singapore National Paralympic Council (SNPC) where UNIQLO becomes the Official Clothing Partner for the Singapore Paralympics team. Under the partnership, UNIQLO will provide LifeWear apparel to Singapore's delegations and officials at the coming major summer sports tournament in France. This comprises apparel to be worn for the opening and closing ceremonies, athlete village, and travel during the Games.

This is the first time that UNIQLO is providing apparel for a national team in Southeast Asia. The Singapore team clothing for the 2024 Summer games will largely comprise LifeWear items available at UNIQLO stores.

UNIQLO worked closely with SNPC to thoughtfully curate a selection of LifeWear apparel that emphasises function and comfort, while featuring modern looks that represent Singapore and blend seamlessly with the cityscape of Paris.

Global apparel retailer UNIQLO announces that it has signed a partnership agreement with the Singapore National Paralympic Council (SNPC) where UNIQLO becomes the Official Clothing Partner for the Singapore Paralympics team. Under the partnership, UNIQLO will provide LifeWear apparel to Singapore's delegations and officials at the coming major summer sports tournament in France. This comprises apparel to be worn for the opening and closing ceremonies, athlete village, and travel during the Games.

This is the first time that UNIQLO is providing apparel for a national team in Southeast Asia. The Singapore team clothing for the 2024 Summer games will largely comprise LifeWear items available at UNIQLO stores.

UNIQLO worked closely with SNPC to thoughtfully curate a selection of LifeWear apparel that emphasises function and comfort, while featuring modern looks that represent Singapore and blend seamlessly with the cityscape of Paris.

A red accent is applied to the accessories and lining as a tribute to the Singapore national colours. Touches of Singapore icons such as the orchid and the Singapore Lion Head symbol are reflected in the women's scarf and men's tie alongside a colour application of red, white and blue to represent Singapore and France.

UNIQLO'S commitment to diversity and inclusion
As part of the partnership, UNIQLO will also undertake community contribution activities with the council and athletes.

UNIQLO will be taking part in the inaugural Singapore Paralympic Fiesta to support Singapore's Para Athletes. Held at Our Tampines Hub from 4 - 7 May 2024, a UNIQLO Singapore team of over 100 staff and family will be participating in the Walkathon.

In line with UNIQLO's Next Generation Development Program, an initiative to inspire children and youth to discover a love of sport, UNIQLO will also join SNPC on their schools outreach efforts to raise awareness on Diversity and Inclusion and disability inclusion with programmes such as UNIQLO Access.

More information:
UNIQLO Sportswear Singapore
Source:

FAST RETAILING CO., LTD. / UNIQLO CO., LTD.

KARL MAYER: Wearables partner of DiMo project (c) KARL MAYER
22.04.2024

KARL MAYER: Wearables partner of DiMo project

Trends such as fitness lifestyle and vitality, the quantified self movement, active ageing and the outdoor boom will significantly change the sports, health and wellness sector in the coming years. In addition, technical innovations will redefine the way people stay fit and healthy. The DiMo - Digital Motion joint project aims to help shape the transformation process. It ran in its first round in 2023 and will be continued for another four years with DiMo-NEXT.

The project aims to conduct transdisciplinary research into how people's experience of exercise can be improved, performance increased and a sustainable lifestyle made possible. The potential offered by digital technologies, particularly in the field of sensors, plays a key role here. The topic of clothing is also important as an interface between technological solutions and people. This is why KARL MAYER and Grabher are among the 26 project partners from industry and research, representing the textile industry.

Trends such as fitness lifestyle and vitality, the quantified self movement, active ageing and the outdoor boom will significantly change the sports, health and wellness sector in the coming years. In addition, technical innovations will redefine the way people stay fit and healthy. The DiMo - Digital Motion joint project aims to help shape the transformation process. It ran in its first round in 2023 and will be continued for another four years with DiMo-NEXT.

The project aims to conduct transdisciplinary research into how people's experience of exercise can be improved, performance increased and a sustainable lifestyle made possible. The potential offered by digital technologies, particularly in the field of sensors, plays a key role here. The topic of clothing is also important as an interface between technological solutions and people. This is why KARL MAYER and Grabher are among the 26 project partners from industry and research, representing the textile industry.

The textile machinery manufacturer KARL MAYER is contributing its expertise in the field of wearables to the project work. The TEXTILE CIRCUIT team of its TEXTILE MAKERSPACE has already successfully implemented various projects in this area. In addition, an MJ 52/1 S from KARL MAYER is used at V-Trion, Grabher's research company in Lustenau, for the production of electrically conductive textiles.

DiMo-NEXT will be launched on April 1, 2024, shortly before Techtextil 2024 in Frankfurt am Main. KARL MAYER will present its contribution to the project work at the trade fair for the sector.

Source:

KARL MAYER Verwaltungsgesellschaft AG

Kornit Digital, White ink on colored fabrics (c) Kornit Digital
12.04.2024

Kornit Digital at Texprocess 2024

Kornit Digital LTD. will display its digital fabric and integrated workflow portfolio at Texprocess 2024, being held April 23-26.

Kornit Digital will feature a view into the end-to-end, fabric manufacturing ecosystem – allowing for production of any fabric and any design for any purpose. The centerpiece is Kornit Presto MAX, transforming the digital world of fabric printing with an ability to print on any fabric type – from cotton and polyester to denim and leather. Built on the promise of sustainability, Presto MAX reduces both water usage and waste. The system is the world’s first offering to print white ink on colored fabrics alongside neon to extend the color gamut by as much as 30 percent. Kornit’s new Vivido inks additionally offers dark black pigments.

Kornit Digital LTD. will display its digital fabric and integrated workflow portfolio at Texprocess 2024, being held April 23-26.

Kornit Digital will feature a view into the end-to-end, fabric manufacturing ecosystem – allowing for production of any fabric and any design for any purpose. The centerpiece is Kornit Presto MAX, transforming the digital world of fabric printing with an ability to print on any fabric type – from cotton and polyester to denim and leather. Built on the promise of sustainability, Presto MAX reduces both water usage and waste. The system is the world’s first offering to print white ink on colored fabrics alongside neon to extend the color gamut by as much as 30 percent. Kornit’s new Vivido inks additionally offers dark black pigments.

Additionally featured is the KornitX Global Fulfillment Network, a solution designed to optimize operational efficiency, eliminate supply chain bottlenecks, and ensure products are readily available to meet customer demands. The solution connects brands, retailers, and digital platforms to a high-quality production network – providing rapid replenishment and trend adaptability for direct-to-fabric production. Pixel-to-parcel monitoring and control fully integrates the end-to-end production workflow for a seamless experience. The solution based on Kornit’s MAX technology enables brands to maximize margins, boost profitability, and pave the way for a sustainable future in the digital on-demand fashion and textile industry.

Beyond technology demonstrations, Kornit will additionally highlight how MAX technology serves as a vibrant partner platform to drive possibilities across the entire fabric printing and processing chain. Key partners highlighted include:

  • Colortex: Providing fashionable, custom textiles for the footwear industry.
  • ZwissTex: Offering quality, sustainable textile solutions for the automotive and clothing sectors.
  • Print Logistic: Delivering a full range of services - from printing to worldwide drop-shipping for smooth e-commerce integration.
  • CGS: Driving global performance through business applications, enterprise learning and outsourcing services.
  • FastSwen: Leveraging Moving Cavity Technology (MCT) to transform textile handling and production efficiency.
  • Premier Digital Textiles: Serving as the prime supplier of textiles with extensive warehousing across the US and UK.
  • Greentex: Providing highly sustainable, innovative, and customizable fabrics for advanced textile printing.

 

Source:

Kornit Digital

John Lewis Partnership appoints new Chairman (c) John Lewis Partnership
Jason Tarry
08.04.2024

John Lewis Partnership appoints new Chairman

The John Lewis Partnership announces the appointment of Jason Tarry as its seventh Chairman following Sharon White’s decision to step down at the end of her term.

Jason brings over 33 years of experience at Tesco where he was most recently the UK & Ireland CEO, a role he held for six years. His experience spans grocery, general merchandise and fashion in senior commercial, operational and general management positions, having joined the Tesco graduate programme in 1990.

In addition to delivering market leading grocery performance in the UK, he led the expansion of F&F Clothing across Europe as Group CEO. Jason is expected to take up the role in September, at which point Sharon will step down and support the transition as required.

The John Lewis Partnership announces the appointment of Jason Tarry as its seventh Chairman following Sharon White’s decision to step down at the end of her term.

Jason brings over 33 years of experience at Tesco where he was most recently the UK & Ireland CEO, a role he held for six years. His experience spans grocery, general merchandise and fashion in senior commercial, operational and general management positions, having joined the Tesco graduate programme in 1990.

In addition to delivering market leading grocery performance in the UK, he led the expansion of F&F Clothing across Europe as Group CEO. Jason is expected to take up the role in September, at which point Sharon will step down and support the transition as required.

Rita Clifton, Deputy Chairman and Chair of the Nomination Committee, said: “The Board extends its huge thanks to Sharon for successfully leading the Partnership through one of the most testing periods in its history - first Covid and then the cost of living crisis. She has faced into the toughest decisions and overseen the Partnership's financial recovery; we are in good financial health with a return to profit, and have a strong balance sheet with record investment planned this year. Sharon has also helped ensure that employee ownership of the Partnership is secure, is demonstrably focused on its purpose as a force for good and with an open and inclusive culture.

“As the Partnership moves into the next phase of its modernisation focused on our core retail business as well future growth, we are confident that Jason will provide the kind of inspirational leadership, a proven track record in multi-channel, multi-category retail success and a strong identification with Partnership values that we are seeking in this role. Jason has impressed everyone throughout the interview process with his warmth, his belief in the Partnership’s ideals and democratic principles and his appreciation for our unique and special brands.”

More information:
John Lewis Partnership Chairman
Source:

John Lewis Partnership

08.03.2024

Infinited Fiber Company completes development financing round

Infinited Fiber Company has successfully completed a two-part development financing round totaling 40 million euros, with significant investments from new investors Inditex, TTY Management, Youngone and Goldwin, in addition to existing ones.

The new investors are Inditex Group, the parent company of Zara and other brands, and TTY Management B.V., an asset management company privately owned by Tadashi Yanai, Chairman, President and CEO of Fast Retailing. Outdoor clothing manufacturer Youngone (YOH CVC Fund 1 Limited Partnership) and Japanese sportswear manufacturer Goldwin (GOLDWIN Play Earth Fund Investment Limited Partnership) are also among the new investors who joined in the recent second closing of EUR 27 million.

The first part of the development financing round, closed in summer 2023, included investments from existing investors. Apparel companies H&M Group, adidas, BESTSELLER, and Zalando further reinforced their long-term commitment to Infinited Fiber. Also investment company VTT Ventures participated in the first closing, and investment companies Security Trading and Nidoco AB in both closings of the round.

Infinited Fiber Company has successfully completed a two-part development financing round totaling 40 million euros, with significant investments from new investors Inditex, TTY Management, Youngone and Goldwin, in addition to existing ones.

The new investors are Inditex Group, the parent company of Zara and other brands, and TTY Management B.V., an asset management company privately owned by Tadashi Yanai, Chairman, President and CEO of Fast Retailing. Outdoor clothing manufacturer Youngone (YOH CVC Fund 1 Limited Partnership) and Japanese sportswear manufacturer Goldwin (GOLDWIN Play Earth Fund Investment Limited Partnership) are also among the new investors who joined in the recent second closing of EUR 27 million.

The first part of the development financing round, closed in summer 2023, included investments from existing investors. Apparel companies H&M Group, adidas, BESTSELLER, and Zalando further reinforced their long-term commitment to Infinited Fiber. Also investment company VTT Ventures participated in the first closing, and investment companies Security Trading and Nidoco AB in both closings of the round.

After the development financing round, Inditex, TTY Management and H&M Group are the largest shareholders of Infinited Fiber Company.

Source:

Infinited Fiber Company