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Archroma introduces COLOR MANAGEMENT+ Photo: Archroma
05.06.2024

Archroma introduces COLOR MANAGEMENT+

Archroma introduces COLOR MANAGEMENT+, an enhanced color design and development solution that helps textile and fashion brands and mills work together for improved economic and environmental sustainability.

Archroma COLOR MANAGEMENT+ incorporates the industry’s largest off-the-shelf color atlas selection, design tools and customized services for fast color selection and creation. It combines these with engineered color standards created with Archroma’s SUPER SYSTEMS+ for reduced environmental impact and consistent and accurate color reproduction.

With these end-to-end capabilities, brands and designers can focus on their color inspiration and on the required functionality and sustainability for their end article, with the assurance that their inspiration can be precisely communicated and efficiently executed at the mill.

Within COLOR MANAGEMENT+, the Color Atlas by Archroma® offers access to a collection of more than 5,700 unique colors for cotton, polyester and blends, both as a physical library and searchable online library. Designers also have the option to create custom colors.

Archroma introduces COLOR MANAGEMENT+, an enhanced color design and development solution that helps textile and fashion brands and mills work together for improved economic and environmental sustainability.

Archroma COLOR MANAGEMENT+ incorporates the industry’s largest off-the-shelf color atlas selection, design tools and customized services for fast color selection and creation. It combines these with engineered color standards created with Archroma’s SUPER SYSTEMS+ for reduced environmental impact and consistent and accurate color reproduction.

With these end-to-end capabilities, brands and designers can focus on their color inspiration and on the required functionality and sustainability for their end article, with the assurance that their inspiration can be precisely communicated and efficiently executed at the mill.

Within COLOR MANAGEMENT+, the Color Atlas by Archroma® offers access to a collection of more than 5,700 unique colors for cotton, polyester and blends, both as a physical library and searchable online library. Designers also have the option to create custom colors.

Ahievability criteria are available for each color standard, whether in the Color Atlas or provided as an Engineered Color, at the selection phase. This includes information about the technical and economic feasibility of the selected color, along with a commitment to sustainability build on the foundation of the Zero Discharge of Hazardous Chemicals (ZDHC) Manufacturing Restricted Substances List (MRSL) Level 3.

The COLOR MANAGEMENT+ color standards provide clear color communication to mill colorists, textile technologists and quality control specialists, helping them deliver the right color faster and achieving reproducible colors across countries and mills. Clear communications can also eliminate excessive lab dipping, shorten approval times and improve first-time-approval rates.

The color standards in COLOR MANAGEMENT+ are created with Archroma’s SUPER SYSTEMS+ solutions for bulk production in mind. Offering end article-specific processing solutions, durable colors and intelligent effects, the SUPER SYSTEMS+ suite allows brands to achieve measurable environmental impact, eliminate harmful or regulated chemicals, and add value and longevity to the end product.

The solution is further supported Archroma’s ONE WAY+ Impact Calculator and Sustainability Improvement Program (SIP), and SAFE EDGE+ compliance-data platform. Global technical support is provided to help the supply chain deliver the right colors with consistency and reduced environmental impact.

Fashion for Good Museum publishes Legacy Report (c) Camilla Rama and Hyunji Kim
05.06.2024

Fashion for Good Museum publishes Legacy Report

The Fashion for Good Museum publishes its legacy document. The report was prompted by the museum’s closure on June 5th, 2024. It represents the museum’s mission, summarising invaluable insights gathered over six years and key results such as reaching 115.000 visitors and creating a dedicated community of more than 250.000 followers online. Committed to transparency and collaboration, Fashion for Good shares its reflections, tools, and transferable learnings, as well as the future of its collections and next steps, continuing to inspire positive change within the fashion ecosystem. All information can be accessed on the Fashion for Good website for continued use and benefit of educators, the cultural sector, and the wider public.

The Fashion for Good Museum publishes its legacy document. The report was prompted by the museum’s closure on June 5th, 2024. It represents the museum’s mission, summarising invaluable insights gathered over six years and key results such as reaching 115.000 visitors and creating a dedicated community of more than 250.000 followers online. Committed to transparency and collaboration, Fashion for Good shares its reflections, tools, and transferable learnings, as well as the future of its collections and next steps, continuing to inspire positive change within the fashion ecosystem. All information can be accessed on the Fashion for Good website for continued use and benefit of educators, the cultural sector, and the wider public.

Looking back on its journey, the Fashion for Good Museum celebrates achievements such as hosting 115.000 visitors, including 8.000 students from 200 schools, curating 13 exhibitions, offering over 75 events, launching 4 educational programmes, reaching both current and future generations, and inspiring many to drive change in the fashion industry. With an earned media value of over 46 million Euros through press coverage since 2017, Fashion for Good's influence has been significant, evident in its 250.000 social media followers and 15.000 newsletter subscribers.

The report fulfils the promise Fashion for Good made in 2017 – to share their journey, learnings, and most impactful activities with the world. Within these pages, readers will discover reflections on their messaging, insights about creative partnerships with entities such as Lowlands Festival, Dutch Design Week, and Museumnacht to case studies of pioneering exhibitions. Their programming was created around themes and topics, such as the untold stories around cotton, circularity, and the future of biomaterials to educate and inspire visitors, ultimately empowering them to take action themselves.

Reflecting on the output of the museum during its short existence, as well as its footprint and wide reach, while acknowledging the challenges encountered during its establishment and development, Fashion for Good distilled six key lessons from Fashion for Good's sustainable museum practices:

  • Recognition of Broader Shift: There is a wider movement towards sustainability in the museum sector, exemplified by Fashion for Good and the new ICOM definition.
  • Storytelling for Societal Change: Cultural institutions are crucial in driving societal change in fashion consumption through storytelling.
  • Innovation through Limitations: Embracing organisational limitations can stimulate innovation in museum collection management and education.
  • Audience Engagement: Understanding and expanding the core audience is essential for effective engagement in sustainability initiatives.
  • Measuring Impact: It's challenging to measure impact for organisations with social missions, requiring clear success criteria.
  • Establishing a Sustainability Framework: Defining sustainability within context is fundamental for organisational sustainability efforts.
Source:

Fashion for Good

Lenzing honoured with Vienna Stock Exchange Sustainability Award (c) Wiener Börse AG/APA-Fotoservice/Daniel Hinterramskogler/Ludwig Schedl
05.06.2024

Lenzing honoured with Vienna Stock Exchange Sustainability Award

The Lenzing Group once again received the Austrian sustainability award for top listed companies, the Vienna Stock Exchange VÖNIX Sustainability Award. Lenzing takes the first place in the ‘Industrials’ category. The award honours those companies that stand out on the capital market with their sustainability performance. According to the VBV (Austrian Sustainability Index), which is the sustainability benchmark of the Austrian stock market, the Lenzing Group achieved the best score in its category.

The Lenzing Group once again received the Austrian sustainability award for top listed companies, the Vienna Stock Exchange VÖNIX Sustainability Award. Lenzing takes the first place in the ‘Industrials’ category. The award honours those companies that stand out on the capital market with their sustainability performance. According to the VBV (Austrian Sustainability Index), which is the sustainability benchmark of the Austrian stock market, the Lenzing Group achieved the best score in its category.

Other environmental organisations and rating agencies have also already testified to Lenzing's efforts in the area of sustainability and the transformation to a circular economy: For the third year in a row, Lenzing received a place on the annual ‘A list’ in all categories of the global non-profit environmental organisation CDP. This makes Lenzing one of only ten companies worldwide to receive a triple ‘A’ - out of over 21,000 companies assessed. Lenzing was also once again awarded platinum status in the EcoVadis CSR rating. This puts Lenzing in the top one per cent of companies rated by EcoVadis. MSCI awarded Lenzing an ‘AA’ rating for the third time in a row, placing the company among the top eight per cent of rated companies in its peer group.

Source:

Lenzing AG

03.06.2024

LYCRA joins Panel at UN Fashion and Lifestyle Network Annual Meeting

The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel and personal care industries, is a 2024 thought leadership partner of the United Nations Fashion and Lifestyle Network and will be participating in the third annual meeting on June 3 at the United Nations (UN) Headquarters in New York City.

Jean Hegedus, The LYCRA Company’s sustainability director, will be joining the panel discussion on “Elevating Fashion: Sustainable Practices and Strategic Insights in the Apparel Industry.” She will highlight The LYCRA Company’s collaboration with Qore® to use its QIRA® product to potentially help reduce the carbon footprint of LYCRA® fiber by up to 44 percent.*

Available in early 2025, patented bio-derived LYCRA® fiber made with QIRA® will consist of 70 percent renewable content derived from dent corn. This renewable spandex will be the first available on a large scale and it will deliver equivalent performance to traditional LYCRA® fiber without requiring re-engineering of processes, garment patterns or fabrics.

The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel and personal care industries, is a 2024 thought leadership partner of the United Nations Fashion and Lifestyle Network and will be participating in the third annual meeting on June 3 at the United Nations (UN) Headquarters in New York City.

Jean Hegedus, The LYCRA Company’s sustainability director, will be joining the panel discussion on “Elevating Fashion: Sustainable Practices and Strategic Insights in the Apparel Industry.” She will highlight The LYCRA Company’s collaboration with Qore® to use its QIRA® product to potentially help reduce the carbon footprint of LYCRA® fiber by up to 44 percent.*

Available in early 2025, patented bio-derived LYCRA® fiber made with QIRA® will consist of 70 percent renewable content derived from dent corn. This renewable spandex will be the first available on a large scale and it will deliver equivalent performance to traditional LYCRA® fiber without requiring re-engineering of processes, garment patterns or fabrics.

This annual meeting brings together media, industry stakeholders, governments, and UN entities to advance knowledge, promote collaboration and enable action to meet Sustainable Development Goals (SDGs) in the fashion and lifestyle sectors.

The United Nations Fashion and Lifestyle Network is led by the United Nations Office for Partnerships and the Fashion Impact Fund. The Network stands as a catalyst for sustainable development within the fashion and lifestyle sectors.

*Estimate from Cradle-to-Gate Screening LCA for a representative LYCRA® fiber manufacturing facility, June 2022, prepared by Ramboll Americas Engineering Solutions, Inc.

Source:

The LYCRA Company

Bcomp’s natural fibre materials in CUPRA (c) CUPRA, SEAT, S.A.
03.06.2024

Bcomp’s natural fibre materials in CUPRA

  • The fully electric vehicle sport EV to incorporate sustainable, flax-based composites to decarbonise manufacturing
  • CUPRA Born VZ to have full natural fibre front seats with Bcomp’s high-performance ampliTex™
  • Bcomp’s natural fibre materials enable a reduction of 49% of CO2 emissions in seats’ production compared to previous version

CUPRA announces the use of Bcomp’s innovative natural fibre composite solutions for the new CUP Bucket seats in the CUPRA Born VZ electric vehicles, the latest addition to the Spanish brand’s vehicle line-up.

CUPRA focuses on innovation and sustainability to redefine the automotive industry. This approach is exemplified by the CUPRA Born VZ, which combines powerful performance with eco-friendly design, aiming to inspire a new generation of drivers with its progressive and responsible engineering.

  • The fully electric vehicle sport EV to incorporate sustainable, flax-based composites to decarbonise manufacturing
  • CUPRA Born VZ to have full natural fibre front seats with Bcomp’s high-performance ampliTex™
  • Bcomp’s natural fibre materials enable a reduction of 49% of CO2 emissions in seats’ production compared to previous version

CUPRA announces the use of Bcomp’s innovative natural fibre composite solutions for the new CUP Bucket seats in the CUPRA Born VZ electric vehicles, the latest addition to the Spanish brand’s vehicle line-up.

CUPRA focuses on innovation and sustainability to redefine the automotive industry. This approach is exemplified by the CUPRA Born VZ, which combines powerful performance with eco-friendly design, aiming to inspire a new generation of drivers with its progressive and responsible engineering.

For the car’s interior design, CUPRA’s collaboration with Bcomp and Sabelt, has resulted in the creation of the first full natural fibre CUP Bucket seats in the CUPRA vehicle line-up. By replacing the seatbacks currently made from carbon and glass fibres, the new all-natural fibre seatbacks offer significant reductions in emissions. The use of Bcomp’s proprietary ampliTex™ technical material reduces CO2 emissions by 49% compared to the hybrid version, while also offering end-of-life options. The incorporation of natural fibres offers other benefits including enhanced vibration damping and increased safety, providing a blend of sustainability and high performance.

Source:

Bcomp

Completion of Mosque for workers of Fashion Forum Limited (c) Asif Salman
31.05.2024

Completion of Mosque for workers of Fashion Forum Limited

The Zebun Nessa Mosque, recently completed in Ashulia, Dhaka, is a shining example of the progressive initiatives being undertaken by the Bangladeshi garment industry. Fashion Forum Ltd., a company of IDS Group, spearheaded this project, demonstrating a strong commitment to enhancing the welfare and environment for its workers.

Bangladesh, renowned as the second-largest exporter of ready-made garments globally, is setting new benchmarks in workplace safety, worker welfare, and environmental sustainability. Mr. Idris Shakur, managing director of IDS Group, epitomizes the industry’s progressive outlook. He has dedicated the mosque to the workers of Fashion Forum Limited, naming it in honour of his late mother. The gesture is designed to foster compassion and unity within the industrial community.

The Zebun Nessa Mosque, recently completed in Ashulia, Dhaka, is a shining example of the progressive initiatives being undertaken by the Bangladeshi garment industry. Fashion Forum Ltd., a company of IDS Group, spearheaded this project, demonstrating a strong commitment to enhancing the welfare and environment for its workers.

Bangladesh, renowned as the second-largest exporter of ready-made garments globally, is setting new benchmarks in workplace safety, worker welfare, and environmental sustainability. Mr. Idris Shakur, managing director of IDS Group, epitomizes the industry’s progressive outlook. He has dedicated the mosque to the workers of Fashion Forum Limited, naming it in honour of his late mother. The gesture is designed to foster compassion and unity within the industrial community.

The mosque, designed by Studio Morphogenesis and completed in 2023, reflects a forward-thinking architectural philosophy. Sustainability was a core consideration, with the design incorporating recycled red bricks from demolished houses for the exterior walls. Pink concrete, weatherproofed with lime plaster mixed with red brick powder, blends tradition with modernity, creating a spiritual and communal haven for the workers.

A key feature of the mosque is its majestic arched opening facing the qibla, offering worshippers a serene view of the adjacent waterbody and enhancing their connection with nature. The structure's double-layered walls provide thermal comfort and facilitate natural light and ventilation, transforming the mosque into a "breathing pavilion." Enclosed gardens, reminiscent of light courts, provide a peaceful retreat from the bustling industrial environment.

Inside, an intricate perforated metal stairway leads to a crescent-shaped upper floor, dedicated exclusively to the female workers. This space serves as a serene meeting area and prayer room, empowering women and reinforcing their importance within the workforce.

The Zebun Nessa Mosque also showcases advanced construction technology, designed to withstand extreme weather conditions, further underscoring the innovative and resilient spirit of Bangladeshi garment manufacturers.

This mosque stands as a testament to the progressive and compassionate ethos driving Bangladesh’s garment industry. It highlights how manufacturers are not only focusing on economic growth but also prioritising the well-being and empowerment of workers, setting new standards for the industry worldwide.

Source:

Bangladesh Apparel Exchange

29.05.2024

Solvay: Outcome of 2024 Shareholders’ Meeting

Solvay held its Ordinary General Shareholders’ Meeting in Brussels, and shareholders voted in favor of all the proposed resolutions.

Solvay shareholders showed support to all resolutions and more specifically:

  • The payment of a gross dividend of €2.43 per share for the year 2023. After deducting the interim dividend of €1.62 gross per share, paid on 17 January 2024, the balance amounts to €0.81 gross per share, payable from 5 June 2024.
  • The re-election of Ms. Aude Thibaut de Maisières as a board member for a four-year term.
  • The remuneration report.
  • The appointment of EY for the assurance of sustainability information related to the Corporate Sustainability Reporting Directive (CSRD)

Solvay held its Ordinary General Shareholders’ Meeting in Brussels, and shareholders voted in favor of all the proposed resolutions.

Solvay shareholders showed support to all resolutions and more specifically:

  • The payment of a gross dividend of €2.43 per share for the year 2023. After deducting the interim dividend of €1.62 gross per share, paid on 17 January 2024, the balance amounts to €0.81 gross per share, payable from 5 June 2024.
  • The re-election of Ms. Aude Thibaut de Maisières as a board member for a four-year term.
  • The remuneration report.
  • The appointment of EY for the assurance of sustainability information related to the Corporate Sustainability Reporting Directive (CSRD)
More information:
Solvay shareholders general meeting
Source:

Solvay

29.05.2024

Traceability New Front Line for Sustainable Retail

Multiple global regulations set to take effect in the coming years have made traceability an imperative for retailers and brands. These include the Digital Product Passport, the Corporate Sustainability Due Diligence Directive, and the New York Fashion Sustainability and Social Accountability Act, to name a few.

While companies are aware of the importance of traceability, research indicates that they are not prepared to comply with upcoming legislation. A recent KPMG survey highlighted that 43% of executives at major enterprises had no visibility or were “largely unclear” about the performance of their Tier 1 suppliers. At the same time, only 28% of companies had clear visibility into Tier 2 suppliers.

TradeBeyond’s recently published Supply Chain Traceability Guide, the latest installment of its Retail Sourcing Report series, highlights the myriad challenges that companies face in implementing effective traceability programs. This report is relevant for all industries, and is especially topical for the apparel and footwear sectors, which are under increasing scrutiny to enhance traceability to ensure sustainability.

Multiple global regulations set to take effect in the coming years have made traceability an imperative for retailers and brands. These include the Digital Product Passport, the Corporate Sustainability Due Diligence Directive, and the New York Fashion Sustainability and Social Accountability Act, to name a few.

While companies are aware of the importance of traceability, research indicates that they are not prepared to comply with upcoming legislation. A recent KPMG survey highlighted that 43% of executives at major enterprises had no visibility or were “largely unclear” about the performance of their Tier 1 suppliers. At the same time, only 28% of companies had clear visibility into Tier 2 suppliers.

TradeBeyond’s recently published Supply Chain Traceability Guide, the latest installment of its Retail Sourcing Report series, highlights the myriad challenges that companies face in implementing effective traceability programs. This report is relevant for all industries, and is especially topical for the apparel and footwear sectors, which are under increasing scrutiny to enhance traceability to ensure sustainability.

The report highlights retail’s slow progress in achieving transparency, as evidenced by the Fashion Transparency Index, which found that the average transparency score across 250 of the world’s largest brands and retailers was just 23%. That suggests that progress on transparent disclosure of social and environmental data is still lagging.
 
The report shows that brands fall short on most key measures of sustainability and traceability, including publishing a responsible code of conduct and providing visibility into their Scope 3 carbon footprint. The United Nations Economics Commission found that only a third of the top one hundred global clothing companies track their own supply chains. One of the obstacles is complexity. More than two-thirds (69%) of fashion companies report that complexity of their global business networks is an obstacle to visibility.

In addition to a lack of visibility, false sustainability claims are also rampant. Greenpeace found that in the apparel and footwear sector, 39% of sustainability claims are false or deceptive. Lack of third-party verification of ESG measures is also rampant.

The highest scoring brands in the 2023 Fashion Transparency Index included luxury brands such as Gucci and retailers such Target Australia, Kmart Australia, OVS, and Benetton. These companies back up their commitment with solid action on multiple measures of traceability.

Along with legislative requirements, consumers are a key driving force pushing companies to improve their traceability initiatives. McKinsey research found that 66% of consumers consider transparency to be a key factor when making a purchase decision and 73% of consumers would pay more for products with transparency into production and sourcing.

The report also highlights key challenges to overcome in the journey to traceability, including effective communication between stakeholders, compliance with new regulations, technology barriers, and data complexity.

On the positive side, the industry is responding with sophisticated technology, including software systems that incorporate artificial intelligence and blockchain-enabled traceability, which provide the required visibility and compliance.

Traceable fiber technology, which allows for traceability from the material origin of a product until its end-life, provides the option of a “fiber-forward” rather than a “product backward” approach to achieving traceability.

Aside from the regulatory and consumer drivers, there is a strong business case for implementing traceability, which includes cost savings, operational efficiency, brand protection and reducing supply chain risk. As such, TradeBeyond expects a rapid evolution in traceability programs across industries, especially in those that lag in best-practices.

While there has been considerable progress in recent years toward accurately tracing the complete origins of products, much more needs to be done. Brands and retailers must intensify their efforts to stay compliant with escalating regulations and align with evolving consumer preferences.

Source:

TradeBeyond

29.05.2024

Teijin Frontier: Breathable, UV-blocking polyester material

Teijin Frontier Co., Ltd., the Teijin Group’s fibers and products converting company, announced the development of a new, multifunctional and comfortable polyester material that combines high breathability and UV protection. This new product reproduces the structure of a traditional Japanese "Sudare" blind (bamboo blind), which allows breezes to pass through while blocking out sunlight.

As extremely high summer temperatures become increasingly common, Teijin Frontier developed this new polyester to meet market demands for materials with enhanced heat protection functions. Heat protection encompasses breathability, UV resistance and anti-stickiness. However, until now, breathability – achieved by gaps between fibers – and UV protection were thought to be mutually exclusive.

To solve this dilemma, the company created a structure with slit-shaped, highly breathable areas in either the warp or weft direction of the fabric. These three-dimensional gaps, similar to those in a bamboo blind, allow the material to deliver both excellent breathability and high UV blocking performance of 85 percent or more. The structure allows air permeability of 50㎤/㎠・s or more.

Teijin Frontier Co., Ltd., the Teijin Group’s fibers and products converting company, announced the development of a new, multifunctional and comfortable polyester material that combines high breathability and UV protection. This new product reproduces the structure of a traditional Japanese "Sudare" blind (bamboo blind), which allows breezes to pass through while blocking out sunlight.

As extremely high summer temperatures become increasingly common, Teijin Frontier developed this new polyester to meet market demands for materials with enhanced heat protection functions. Heat protection encompasses breathability, UV resistance and anti-stickiness. However, until now, breathability – achieved by gaps between fibers – and UV protection were thought to be mutually exclusive.

To solve this dilemma, the company created a structure with slit-shaped, highly breathable areas in either the warp or weft direction of the fabric. These three-dimensional gaps, similar to those in a bamboo blind, allow the material to deliver both excellent breathability and high UV blocking performance of 85 percent or more. The structure allows air permeability of 50㎤/㎠・s or more.

This new product also offers sustainability benefits through the incorporation of recycled polyester in part. Its structure and elastic fibers provide stretch performance, while an uneven surface caused by differences in thread shrinkage and its structure avoid stickiness. Moreover, to achieve the combination of functions, Teijin Frontier also adopt special high-shrinkage technology and dying finishing technology. This material offers potential for use in both fashion and casual clothing.

Teijin Frontier will begin promoting this product for the 2025 spring and summer fashion and casual clothing collections in Japan, aiming for sales of 250,000 meters in fiscal 2024 and 750,000 meters in fiscal 2027.

Source:

Teijin Limited

29.05.2024

Cinte Techtextil China taking place in September 2024

With four months until the show opens doors, key exhibitors have already confirmed participation for the Cinte Techtextil China 2024. In conjunction with a positive global outlook, key players are eager to congregate again at the Shanghai New International Expo Centre from 19 – 21 September, to showcase innovations and connect with buyers from various sectors.
 
The fair will closely align with Messe Frankfurt’s ‘Texpertise Econogy’ – the umbrella for the group’s sustainability activities at its more than 50 textile trade shows worldwide. New energy elements, such as battery and hydrogen, will appear at the Innovation Showcase Area, on top of other interactive fringe events which centre around sustainability.

With four months until the show opens doors, key exhibitors have already confirmed participation for the Cinte Techtextil China 2024. In conjunction with a positive global outlook, key players are eager to congregate again at the Shanghai New International Expo Centre from 19 – 21 September, to showcase innovations and connect with buyers from various sectors.
 
The fair will closely align with Messe Frankfurt’s ‘Texpertise Econogy’ – the umbrella for the group’s sustainability activities at its more than 50 textile trade shows worldwide. New energy elements, such as battery and hydrogen, will appear at the Innovation Showcase Area, on top of other interactive fringe events which centre around sustainability.

With environmental protection as one of the top sourcing categories at the previous edition, products with medical, home, protection, and building applications rounded out the top five. By product group, in-demand sourcing categories included nonwovens; technology and accessories; woven fabrics, laid webs, knitted fabrics, braidings; composites; as well as coated textiles and bondtec. The show saw 15,542 visits from 52 countries and regions last year.

Catering to various key players in 2023, the well-known Groz-Beckert East Asia brought their latest innovative needling tools for the nonwovens sector. Speaking at the show, Mr Kabilen Sornum, Vice President Asia Pacific of Marketing & E-Commerce, commented: “While we are focusing on the China market, we have also seen buyers from the Middle East, Europe, Korea, and North Asia. Cinte Techtextil China is a more international fair – we can see that everyone is here, and the quality and innovation of buyers has improved greatly in the past three to four years. E-mobility and sustainability are two very clear trends.”
 
The fair’s product categories cover 12 application areas, which comprehensively span a full range of potential uses in modern technical textiles and nonwovens. These categories also cover the entire industry, from upstream technology and raw materials providers to finished fabrics, chemicals and other solutions. This scope of product groups and application areas ensures that the fair is an effective business platform for the entire industry.

Source:

Messe Frankfurt (HK) Ltd

27.05.2024

Mahlo at ITM

Mahlo will be showcasing its comprehensive portfolio of solutions with its partner Masters Limited at the upcoming ITM trade show, scheduled from 4th to 8th June in Istanbul.

The Turkish textile industry continues to experience growth and innovation, making events like ITM crucial for industry players to connect and explore advancements. Fabric distortion remains a common challenge in textile production, impacting product quality and efficiency. Additionally, sustainability and resource optimization are increasingly vital considerations for manufacturers aiming to maintain profitability.

Mahlo will be showcasing its comprehensive portfolio of solutions with its partner Masters Limited at the upcoming ITM trade show, scheduled from 4th to 8th June in Istanbul.

The Turkish textile industry continues to experience growth and innovation, making events like ITM crucial for industry players to connect and explore advancements. Fabric distortion remains a common challenge in textile production, impacting product quality and efficiency. Additionally, sustainability and resource optimization are increasingly vital considerations for manufacturers aiming to maintain profitability.

Mahlo offers a range of solutions tailored to different textile structures, from heavy carpets to delicate fabrics. The company's products encompass everything from distortion detection sensors to fully automated straightening systems, customizable to individual production requirements. Moreover, Mahlo's latest generation of straighteners, sensors, and control loops are equipped for Industry 4.0 integration, enabling remote access and real-time monitoring for enhanced efficiency and productivity.
As the textile industry continues to evolve, Mahlo remains at the forefront, providing innovative solutions to meet the changing demands of modern production.

Source:

Mahlo GmbH + Co. KG

Source Fashion targets new sourcing regions (c) Source Fashion by Hyve Group
27.05.2024

Source Fashion targets new sourcing regions

Source Fashion, which takes place at Olympia London from 14th - 16th July 2024, continues to grow its presence of international exhibitors from new sourcing regions, including representation from southeast Asia and Africa.

The first Malaysian manufacturer to be represented at the trade fair is Kualesa Apparel. Kualesa started as a small seed of an idea, with a big ambition and an even bigger purpose. The brand has evolved from a simple set of values to a producer of great-looking and comfortable bamboo apparel that’s challenging fast fashion. Kualesa offer flexible MOQ’s ranging from 250 pieces to high production capacity of 50,000 pieces a month.

Fairs and More Inc from the Philippines returns to the show for a third time, bringing a pavilion of Filipino manufacturers and makers.

The show also welcomes its first ever Nigerian manufacturer, Beyond Clothing. Beyond Clothing is a garment factory, that specialises in crafting premium custom clothing, branded uniforms, corporate uniforms, and sublimated t-shirts. The range also includes promotional apparel, workwear, and PPE personal protective apparel for hospitals.

Source Fashion, which takes place at Olympia London from 14th - 16th July 2024, continues to grow its presence of international exhibitors from new sourcing regions, including representation from southeast Asia and Africa.

The first Malaysian manufacturer to be represented at the trade fair is Kualesa Apparel. Kualesa started as a small seed of an idea, with a big ambition and an even bigger purpose. The brand has evolved from a simple set of values to a producer of great-looking and comfortable bamboo apparel that’s challenging fast fashion. Kualesa offer flexible MOQ’s ranging from 250 pieces to high production capacity of 50,000 pieces a month.

Fairs and More Inc from the Philippines returns to the show for a third time, bringing a pavilion of Filipino manufacturers and makers.

The show also welcomes its first ever Nigerian manufacturer, Beyond Clothing. Beyond Clothing is a garment factory, that specialises in crafting premium custom clothing, branded uniforms, corporate uniforms, and sublimated t-shirts. The range also includes promotional apparel, workwear, and PPE personal protective apparel for hospitals.

Returning to Source Fashion, Texpro Corp (a branch of Kassab Group) from Tunisia has grown rapidly to become a fully integrated apparel manufacturer certified with GOTS, BSCI, BCI, and OCS covering the complete production cycle focusing on sustainability through the process from fabrics to manufacturing, washing and dying. The company specialises in denim and flat garment manufacturing and the product portfolio includes casual dresses, shirts, jackets, pants and coats for men, women and kids. Texpro Corp are increasingly partnering with customers to ensure high consistent quality on the products and invest in innovation to help improve the environmental impact by consistently delivering responsibly produced products.

Visitors will also discover International Trade Center (ITC), who is returning with a pavilion that includes a debut area for Ghanian producers. With manufacturing in Ethiopia, Shints Co Ltd. is a global producer of high-performance outdoor clothing and camping equipment.

A strong contingency from Europe includes over 25 UK exhibitors, representation from France, Italy and Spain, and a selection of Portuguese exhibitors including Ttantos Textiles, FLM Textil, SMSenra and Lagofra.

Nearly 30 countries, including Peru, Cambodia, Pakistan, Hong Kong, Italy, and Greece will be represented. Large pavilions from China, India and Turkey have also been confirmed, as well as Tanzania, Madagascar and Nepal.

More information:
Source Fashion Asia Africa
Source:

Source Fashion by Hyve Group

24.05.2024

Salvation Army launches Take Back Scheme Fashion campaign

The Salvation Army has launched a Take Back Scheme Fashion campaign featuring stylish looks from their generously received clothing donations. As the largest charity owned textile collector in the UK, the Scheme is operated by the trading arm of the charity (SATCoL) who have partnered with some of the largest retailers and brands in the UK including John Lewis and Tesco.
 
The Take Back Scheme is the perfect way for people to support the fashion circular economy while shopping online or instore with their favourite brands.  The campaign invites the public to be part of a drive to reduce waste and extend the useful life of products.

The fashion forward campaign features a collection of garments styled by fashion stylist Karl Willet. Karl is known for his elegantly classic, yet contemporary vision and the images for this campaign nod to his classic styles that stand the test of time.

The Salvation Army has launched a Take Back Scheme Fashion campaign featuring stylish looks from their generously received clothing donations. As the largest charity owned textile collector in the UK, the Scheme is operated by the trading arm of the charity (SATCoL) who have partnered with some of the largest retailers and brands in the UK including John Lewis and Tesco.
 
The Take Back Scheme is the perfect way for people to support the fashion circular economy while shopping online or instore with their favourite brands.  The campaign invites the public to be part of a drive to reduce waste and extend the useful life of products.

The fashion forward campaign features a collection of garments styled by fashion stylist Karl Willet. Karl is known for his elegantly classic, yet contemporary vision and the images for this campaign nod to his classic styles that stand the test of time.

Karl works with celebrities from across the music/film industry including Paloma Faith, Jermaine Jackson and Geri Halliwell to name a few. Karl shared, “Styling looks with second-hand clothing is a fun and creative way to express your personal style. It’s important to embrace sustainability because not only does it reduce environmental waste, but it also encourages individual style and is affordable. The Take Back Scheme is a way to make a positive difference.”
 
The donated garments featured in the campaign, were specially chosen to reflect The Salvation Army colours of red, white and black, and the charity’s message of hope. SATCoL has made their Take Back Scheme even more accessible with 2 in-store offerings and 12 clothing banks available online, so customers can donate their unwanted items on the go. Each year, The Salvation Army collects around 65,000 tonnes of textiles, diverting them to good uses and raising funds.

The profits raised from the resale of these donations is given to The Salvation Army to continue their work across the UK.

 

Re:claim
Re:claim project - school blazer
21.05.2024

A circular school blazer

Vision and technology are the key ingredients of a ground-breaking school blazer that is showing how businesses can move to a circular textiles economy.  
 
While many brands are grappling with the complexities of inevitable legislation and engrained business models, leading school uniform producer, David Luke, has launched a fully recyclable ‘circular’ school blazer that is designed to be recycled through Project Re:claim, the world’s first commercial-scale polyester recycling plant.
 
Project Re:claim is a joint venture between the UK’s largest charity textile collector, The Salvation Army, and leading circularity specialists Project Plan B. The plant opened in the UK in January 2024, and presents huge opportunities for brands to transition to textile-to-textile manufacturing models.
 

Vision and technology are the key ingredients of a ground-breaking school blazer that is showing how businesses can move to a circular textiles economy.  
 
While many brands are grappling with the complexities of inevitable legislation and engrained business models, leading school uniform producer, David Luke, has launched a fully recyclable ‘circular’ school blazer that is designed to be recycled through Project Re:claim, the world’s first commercial-scale polyester recycling plant.
 
Project Re:claim is a joint venture between the UK’s largest charity textile collector, The Salvation Army, and leading circularity specialists Project Plan B. The plant opened in the UK in January 2024, and presents huge opportunities for brands to transition to textile-to-textile manufacturing models.
 
David Luke’s circular blazer has been introduced to the brand’s successful Eco-uniform range which has sold over 1.7 million Eco-blazers in the last decade. Up until 2023, David Luke’s Eco-blazer, like many recycled garments, has been made from recycled plastic bottles. But the company has been working with Tim Cross, CEO of Project Plan B and the Circular Textiles Foundation, to bring the 100% recyclable blazer to market.
 
Tim Cross said: “David Luke has grasped the opportunity to embed 100% recyclable and 100% recycled garments into their range, starting with the school blazer. We now have the technology to enable their blazers to be recycled without any separation of the garment, making it an efficient recycling process. The team at David Luke has worked tirelessly with their manufacturers to create a blazer that does not compromise on design or quality, and yet is much kinder to the environment.”
 
Every detail from the lining, buttons and zips to the inter-linings and adhesives, has been re-thought and re-designed to meet the demands of an everyday school blazer and to recycle the garment once it reaches its end-of-life. Up until now, when the blazers have eventually been handed down to siblings, or given to the local charity shop, there had been no end-of-life solution for polyester garments apart from incineration. Now, Project Re:claim can recycle the blazer to produce polyester pellets, which are then spun into yarn to be used for future David Luke circular blazers.
 
Cross continues: “David Luke has the vision to create a fully circular range, and we have the potential to supply recycled content. The possibilities are infinite in terms of the future of garment design and manufacturing.”
 
Kathryn Shuttleworth, Chief Executive of David Luke, said: “It is a natural next step for us to transition to a textile-to-textile model. We have been producing garments using recycled plastic bottles for 15 years, but we have always had an eye on developments in textile recycling and solutions for end-of-life garments.”
 
In 2020, David Luke was awarded the Queen’s award for Enterprise for Sustainable Development and in January 2023 the David Luke circular blazer achieved Circular Foundation Textile certification.
 
Shuttleworth added: “Our focus will always be on those essential ingredients for parents and children - style, durability and affordability. But we have a responsibility to change our business model to better protect children’s future and the environment. It has become our obsession to make uniforms that meet our customers’ demands. We are really excited about the future as we continue to develop our range.”
 
Majonne Frost, Head of Environment and Sustainability for Salvation Army Trading Company, said: “Our vision is to enable companies to produce uniforms, corporate wear, fashion garments and textile ranges using recycled polyester.  We have the infrastructure to collect donations at scale and we now need companies to step up. This is an opportunity for companies to make a commitment to significantly reduce their environmental impact, and David Luke are showing us how that is possible.”

More information:
uniforms Re:claim
Source:

wearepr / Re:claim

21.05.2024

Keys to Unlock the Next Level in Sustainable Fashion

On the occasion of the 15-year anniversary of the inaugural Global Fashion Summit, Global Fashion Agenda (GFA) has released a special edition of the Fashion CEO Agenda  — a strategic resource designed to steer fashion organisations towards achieving a net positive industry by 2050. In line with the 2024 theme of Global Fashion Summit, ‘Unlocking the Next Level’, this year’s Fashion CEO Agenda presents five pivotal opportunities for fashion executives and the industry at large to unlock transformative impact for people and planet.

In the 15 years since the inception of Global Fashion Summit in 2009, sustainability has evolved from a peripheral concern to a central focus in the fashion business landscape, prompting significant strides across the industry. Despite this progress, the alarming escalation of global warming and exponential rise in clothing production demand urgent and collective action from fashion industry leaders.

On the occasion of the 15-year anniversary of the inaugural Global Fashion Summit, Global Fashion Agenda (GFA) has released a special edition of the Fashion CEO Agenda  — a strategic resource designed to steer fashion organisations towards achieving a net positive industry by 2050. In line with the 2024 theme of Global Fashion Summit, ‘Unlocking the Next Level’, this year’s Fashion CEO Agenda presents five pivotal opportunities for fashion executives and the industry at large to unlock transformative impact for people and planet.

In the 15 years since the inception of Global Fashion Summit in 2009, sustainability has evolved from a peripheral concern to a central focus in the fashion business landscape, prompting significant strides across the industry. Despite this progress, the alarming escalation of global warming and exponential rise in clothing production demand urgent and collective action from fashion industry leaders.

Unlocking the next level of positive impact necessitates a comprehensive understanding of interdependencies and system-wide solutions. The 2024 edition of the Fashion CEO Agenda aims to empower fashion leaders and the wider industry to embrace five key opportunities:

  • Operationalising Sustainability
  • Redefining Growth
  • Activating Consumers
  • Prioritising People
  • Mobilising Based on Materiality

Drawing from the five priorities of the Fashion CEO Agenda — Respectful and Secure Work Environments, Better Wage Systems, Resource Stewardship, Smart Material Choices, and Circular Systems — this special edition highlights five cross-cutting opportunities that will help achieve the next level of progress on these priorities.

Tailored for fashion brands, retailers, and producers, this edition of the Fashion CEO Agenda differs from previous editions as it focuses on challenging norms and amplifying efforts, and serves as a crucial inflection point for the industry to foster positive outcomes for both society and the environment. By upholding the rights of workers, championing diversity and inclusivity, redefining success metrics, and reshaping growth paradigms, profound transformation is possible.
 
Federica Marchionni, CEO, Global Fashion Agenda, says: “The Fashion CEO Agenda 2024 aims to help leaders to shift their mindset, providing clear unlocks for embracing the challenges for future proofing their businesses and operations. I urgently encourage leaders to work closely with cross-functional teams, use empathy, and a values-based approach that prioritises the planet and the well-being of the people. By doing so, we secure the foundation of our businesses and deliver not only financial returns but also positive impact on the world around us.”

Through renowned events, impact programmes, and thought leadership publications, GFA consistently convenes industry pioneers, shares tangible case studies, disseminates best practices, and highlights practical tools. While recognising the enduring utility of these resources, stakeholders are now encouraged to build upon existing insights and embrace increasingly sophisticated, holistic, and human-centric opportunities to unlock the next level of industry transformation across the entire value chain.

The Fashion CEO Agenda 2024 is an openly accessible resource and available to download at the GFA’s website

Source:

Global Fashion Agenda

13.05.2024

Indorama Ventures achieves ‘AA’ rating

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that MSCI awarded the company an upgraded ‘AA’ from ‘A’ rating, ranking it in the ‘Leader’ category for its Environmental, Social, and Governance (ESG) performance towards achieving its ongoing sustainability goals and commitments.

Morgan Stanley Capital International (MSCI), a provider of research-driven indices and analytics, ranked Indorama Ventures among the top 12% of 57 global companies in the commodity chemicals sector. This upgraded rating illustrates Indorama Ventures’ performance to exceed industry peers while minimizing its environmental footprint.

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that MSCI awarded the company an upgraded ‘AA’ from ‘A’ rating, ranking it in the ‘Leader’ category for its Environmental, Social, and Governance (ESG) performance towards achieving its ongoing sustainability goals and commitments.

Morgan Stanley Capital International (MSCI), a provider of research-driven indices and analytics, ranked Indorama Ventures among the top 12% of 57 global companies in the commodity chemicals sector. This upgraded rating illustrates Indorama Ventures’ performance to exceed industry peers while minimizing its environmental footprint.

Source:

Indorama Ventures Public Company Limited

13.05.2024

Intertextile Shanghai Home Textiles marks 30th anniversary

Intertextile Shanghai Home Textiles will mark its 30-year milestone at the National Exhibition and Convention Center (Shanghai) this autumn, from 14 – 16 August 2024. With industry players from around the world gearing up to join this year’s anniversary edition, the showcase will feature returning pavilions, a new product zone, and exhibitors with a wide range of fabrics and more.

30th anniversary celebration
With the ‘Intertextile’ brand present in the Chinese textile market since 1995, increasing market demand, both domestically and internationally, has contributed to the consistent upward trajectory of Intertextile Shanghai Home Textiles – Autumn Edition.

Intertextile Shanghai Home Textiles will mark its 30-year milestone at the National Exhibition and Convention Center (Shanghai) this autumn, from 14 – 16 August 2024. With industry players from around the world gearing up to join this year’s anniversary edition, the showcase will feature returning pavilions, a new product zone, and exhibitors with a wide range of fabrics and more.

30th anniversary celebration
With the ‘Intertextile’ brand present in the Chinese textile market since 1995, increasing market demand, both domestically and internationally, has contributed to the consistent upward trajectory of Intertextile Shanghai Home Textiles – Autumn Edition.

By utilising advanced technologies and abundant resources, China has earned its global reputation as one of the major manufacturing hubs for home textile products. Chinese home textile exports reached over USD 4.8 billion in the first two months of 2024, a year-on-year increase of 13.7%[1], demonstrating a welcome recovery. On the other hand, the country’s huge population, coupled with its increasing per capita textile consumption and home renovation projects, is providing a plethora of business opportunities for international suppliers to discover.

Featured zones and country pavilions
At this special edition, a new product zone will be unrolled for the first time–the Carpets & Rugs Zone. Set to feature various related products, the rising demand for these floor coverings has prompted the birth of this new featured zone. Meanwhile, the sought-after Designer Studio will return to help buyers achieve product-specific sourcing goals. Furthermore, with carpets, curtains, sun protection, leather, and many more home textiles all zoned accordingly under one roof, buyers will be able to source from a full range of products.

The Belgium and Türkiye Pavilions will once again showcase various product series from premium brands, alongside a comprehensive list of domestic exhibitors and multiple standalone international suppliers set to present their latest innovations and designs.

Beyond exhibitors’ booths, the fair’s anticipated fringe programme will showcase innovations and discuss market trends, such as broadly discussed AI and sustainability topics, to help fairgoers stay ahead of the curve. Simultaneously, the Danish trend agency SPOTT, founded by Ms Anja Bisgaard Gaede, also the leading trend agency for Heimtextil 2024, will be collaborating with the fair for the first time this year. The organisation will present an innovative trend area, set to illustrate design inspiration and industry direction for the upcoming season, through a series of creative displays. In addition, Mr Shen Lei, Founder and Design Director of Interior Architects Design, and the Chinese representative of the Intertextile International Lifestyle Trend Committee, will be returning this year to delve into design topics via his seminar.

[1] Tnc.com.cn:Analysis of China’s home textile exports from January to February 2024. https://www.tnc.com.cn/info/c-001001-d-3742104.html

The Salvation Army: Clothing drives at Marathon Events Photo: unsplash, Miguel A Amutio
13.05.2024

The Salvation Army: Clothing drives at Marathon Events

London Marathon Events (LME) partnered with the Salvation Army Trading Company (SATCoL), the trading arm of The Salvation Army, to collect discarded participant clothing at its event in London. On 21st April The Salvation Army collected a record 18.9 tonnes of clothing from the mass participation event.

Salvation Army volunteers and helpers supported to collect clothing discarded by participants prior to the Start line. The clothing was transported to The Salvation Army’s processing centre in the East Midlands for sorting and distribution to be resold, reused or recycled.

The profits that the Salvation Army Trading Company raise, is donated to The Salvation Army to continue to support the work they do across the UK.

The scheme is one of LME’s new sustainability initiatives for 2024 aimed at reducing the environmental impact of its events, with a particular focus on lowering carbon emissions, cutting waste and improving circularity.

The Salvation Army team will continue with the clothing collections at the following events this year:

London Marathon Events (LME) partnered with the Salvation Army Trading Company (SATCoL), the trading arm of The Salvation Army, to collect discarded participant clothing at its event in London. On 21st April The Salvation Army collected a record 18.9 tonnes of clothing from the mass participation event.

Salvation Army volunteers and helpers supported to collect clothing discarded by participants prior to the Start line. The clothing was transported to The Salvation Army’s processing centre in the East Midlands for sorting and distribution to be resold, reused or recycled.

The profits that the Salvation Army Trading Company raise, is donated to The Salvation Army to continue to support the work they do across the UK.

The scheme is one of LME’s new sustainability initiatives for 2024 aimed at reducing the environmental impact of its events, with a particular focus on lowering carbon emissions, cutting waste and improving circularity.

The Salvation Army team will continue with the clothing collections at the following events this year:

  • Ford RideLondon on Sunday 26 May
  • The Big Half on 1 September
  • The Vitality London 10,000 on 22 September
  • The Royal Parks Half on 13 October
Source:

Salvation Army Trading Company Ltd (SATCoL)

13.05.2024

15-year anniversary of Global Fashion Summit in Copenhagen

Global Fashion Summit: Copenhagen Edition 2024 will take place on 22-23 May in the Copenhagen Concert Hall. Presented by Global Fashion Agenda (GFA), a non-profit organisation that is accelerating the transition to a net positive fashion industry, the 2024 edition with mark the Summit’s 15th anniversary and will bring together  leaders to drive urgent social and environmental progress.
 
Her Majesty The Queen of Denmark will attend the Summit on 22 May and provide Opening Remarks. The Queen first attended the inaugural Summit in 2009 and has since spoken at every edition of the Summit, demonstrating her dedication to a more sustainable future.
 
Under the central theme ‘Unlocking the Next Level’, over 100 other esteemed speakers will take to the Summit’s historic stages to share action-based insights, including executives from: Kering, Patagonia, Maersk, Brioni, Conservation International, The New York Times, Ralph Lauren Corporation, H&M Group, Ganni, WWF, Re&Up, Fair Labor Association, and more.
 

Global Fashion Summit: Copenhagen Edition 2024 will take place on 22-23 May in the Copenhagen Concert Hall. Presented by Global Fashion Agenda (GFA), a non-profit organisation that is accelerating the transition to a net positive fashion industry, the 2024 edition with mark the Summit’s 15th anniversary and will bring together  leaders to drive urgent social and environmental progress.
 
Her Majesty The Queen of Denmark will attend the Summit on 22 May and provide Opening Remarks. The Queen first attended the inaugural Summit in 2009 and has since spoken at every edition of the Summit, demonstrating her dedication to a more sustainable future.
 
Under the central theme ‘Unlocking the Next Level’, over 100 other esteemed speakers will take to the Summit’s historic stages to share action-based insights, including executives from: Kering, Patagonia, Maersk, Brioni, Conservation International, The New York Times, Ralph Lauren Corporation, H&M Group, Ganni, WWF, Re&Up, Fair Labor Association, and more.
 
With a 15-year foundation as a leading forum for sustainability in fashion, the event will attract over 1000 stakeholders from the fashion sector, adjacent industries, policymakers, solution providers, and more. The Summit’s programme will be structured around unlocking solutions to fashion’s biggest sustainability barriers, no matter where an organisation is on its sustainability journey. Sessions include: ‘Fragmented Futures: Fashion’s Policy Agenda’, ‘Luxury, Leather, and Land’, ‘Towards a Binding Agreement on Wages, ‘Pathways to Indigenous Partnership’, and ‘Ending Oversupply’.
 
Building on the impact of previous Summits, the 2024 edition will also host more action-oriented roundtable meetings. The closed-door sessions bring together groups of stakeholders to discuss relevant barriers, share learnings, and build collaborations to support the implementation of solutions. Roundtables will address topics such as: ‘Scaling Circular Textile Systems’, ‘Pay Equity Interventions in European Value Chains’, and ‘Impactful Influence’.
 
The Summit will also present the Innovation Forum, a curated exhibition of leading sustainable solutions. Summit attendees can meet with exhibitors covering the entire value chain – from innovative materials to end-of-use solutions.

Source:

Global Fashion Agenda (GFA)

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