From the Sector

The acquisition is the fifth strategic deal finalized by Imprima Spa , holding controlled by the Italian private equity fund Wisequity IV.

IMPRIMA S.p.A., the holding company of the multinational group dedicated to textile printing and finishing, announces the acquisition of City Prints and the twin company Premier Fabrics, both American companies specialised in printed textiles. 

Imprima, controlled by Wise SGR through the Italian private equity fund Wisequity, now strengthens its strategic positioning, consolidating its global presence as a leading player in the field of printing and textile finishing for international retailers and fashion brands.

City Prints and Premier Fabrics, founded in 1997 and headquartered in New York and Los Angeles, are specialized in textile printing for the programmed collection market. The companies supply printed fabrics, based on proprietary design, to major American retailers such as Walmart, Target and Macy's, to  fashion brands such as Ralph Lauren, Calvin Klein and Tommy Hilfiger, and to online retailers such as Amazon. The companies serve retailers and brands through leading private label intermediaries, currently sourcing prints and garments mainly from China.  

As in the case of the previous acquisitions, the brothers Jason and Ryan Borg, co-founders of City Prints and Premier Fabrics, will maintain a leadership role in the management of the companies and become shareholders of IMPRIMA. 

 "Our entry into the IMPRIMA group is an excellent opportunity to consolidate and increase our commercial positioning in the market, through the introduction of IMPRIMA Group’s brands in the US market and the opening of a digital production facility within the US territory, relying on the technology know-how in digital printing and the financial support that IMPRIMA provides", said Jason and Ryan Borg co-owners of City Prints and Premier Fabrics, which currently show a consolidated turnover of over 23 million dollars.

“With this acquisition, IMPRIMA deals with the US market with the goal of becoming the first textile converter with full digital printing capability in this local market.  The current deep crisis of American apparel retailers is pushing the industry to reshape its current supply chain strategy, mainly based on sourcing from Far East, towards a European-like fast fashion model. IMPRIMA, through City Prints and Premier Fabrics, will allow local retailers to leverage the "Made in USA" banner to deliver a great creative experience through a local, reliable partner.", said President Valentina Franceschini, and Executive V.P. Gianluca Boni.

This acquisition of the US companies follows the recent acquisition of the Italian print converters SET, Guarisco and B-Blossom and of the German print converter KBC.  

Loop Linen has earned the Hygienically Clean Food Service designation, reflecting their commitment to best management practices (BMPs) in laundering as verified by on-site inspection and their capability to produce hygienically clean textiles as quantified by ongoing microbial testing. Loop Linen is a fourth-generation family-owned linen and uniform service company located in New Orleans suburb of Westwego.

The certification confirms the laundry’s dedication to compliance and processing linens and garments using BMPs as described in its quality assurance documentation, the focal point for Hygienically Clean inspectors’ evaluation of critical control points (CCPs) that minimize risk. The independent, third-party inspection must confirm essential evidence that:
•             Employees are properly trained and protected
•             Managers understand legal requirements
•             OSHA-compliant
•             Physical plant operates effectively

In addition, Loop Linen’s facility passed three rounds of outcome-based microbial testing, indicating that their processes are producing Hygienically Clean garments and linens and diminished presence of harmful bacteria. To maintain their certification, laundry plants must pass quarterly testing to ensure that as laundry conditions change, such as water quality, textile fabric composition and wash chemistry, laundered product quality is consistently maintained.

This process eliminates subjectivity by focusing on outcomes and results that verify textiles cleaned in these facilities meet appropriate hygienically clean standards and BMPs for full- and limited-service restaurants and other food service operations.

Hazard Analysis and Critical Control Points (HACCP) practices are examined in the Hygienically Clean Food Safety inspection process, evaluating the plant’s techniques for:
•             Conducting hazard analysis
•             Determining CCPs, monitoring their control, correcting them if not under control
•             Validating and verifying HACCP system effectiveness
•             Documenting and record-keeping to show ongoing conformance

Inspections also evaluate practices relevant to handling and processing textile products used in food manufacturing/processing establishments for adherence to U.S. Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) directives. Introduced in January 2016, Hygienically Clean Food Service brought to linen and uniform service laundering in North America the international cleanliness standards used worldwide by the Certification Association for Professional Textile Services and the European Committee for Standardization.

“Congratulations to Loop Linen on their certification,” said Joseph Ricci, TRSA president and CEO. “This achievement proves their dedication to building their customers’ confidence that their laundry takes every step possible to prevent human illness.”

At Milano Unica, as key inspiring article, ILUNA presented an exclusive and elegant lace long dress, created in collaboration with Valery, starting from an all over textronic ultralight lace with a complex organic design completely made of recycled materials, using ROICA™ Eco-Smart family, a world-first range of responsible made premium stretch yarns, demonstrating, once more, how the two leading innovators continue their close partnership to present the most “advanced” and responsible solutions to the market today.

Nevertheless, for ILUNA smart innovation is not just a project even, at its space at Milano Unica visitors will had the opportunity to discover the new collection and also to experience and touch the latest boundaries of lace smart innovations. This season novelties include:

1. Green Label collection, the Iluna dedicated range featuring a new responsible approach in respect of the planet and people, able to deliver innovation, beauty and quality, at 360°. This season, in addition to the all over, jacquard, double jacquard and mesh offer, the line is also featuring  new stretch Galloon laces fully made with GRS certified recycled  materials, including the stretch thanks to the introduction of the unique ROICA™ sustainable yarn part of the ROICA™ Eco-Smart family. 
2. ILUNA is also proud to introduce a worldwide première: Eco- Smart family made of sustainable yarns allover laces made with NAIA cellulosic fiber by Eastmann combined with ROICA™ premium stretch sustainable yarn   realized on warp knitting jacquard looms. A unique innovation, with an interesting look & feel combined with a special softness!  
3. ILUNA has strategically included in all their stretch laces only ROICA™ Eco-Smart family of sustainable yarns since some time. The company is pleased to introduce the latest version of this yarns that are able to deliver 3 functions in one:  premium stretch, sustainability combined with the ROICA™ Colour Perfect family function offering excellent flawless and world unique colour dimensions, homogeneity.
4. For the salon, another première:  in cooperation with ROICA™ and Cupro by Asahi Kasei, Iluna is pleased to introduce ‘Smart Bucket Bag’ as a  special  limited edition gift. In origin, this was a roomy bag shaped like a bucket taller than it is wide with a rounded bottom. It first came to fashion in the 1900's, from a pouch with a string and a hardened bottom. Federica Annovazzi idea started from the traditional shape, but it went way beyond and imade it contemporary by smart materials and manufacturing. A beautifully crafted ‘double face recipe’ made  combining a luxurious Cupro fabric by Infinity with an Iluna stretch Double face Smart Bucket bag lace designed and produced with ROICA™ Eco-Smart family of sustainable yarns. The bag is manufactured exclusively by Made in Carcere a cooperative of women in rehabilitation, so creating a useful social exchange as well as a responsible and smart one. The Made in Carcere brand was founded in 2007, thanks to Luciana Delle Donne, founder of Officina Creativa, a non-profit social cooperative.
5. ILUNA can also boast its new STeP (Sustainable Textile Production) certification by Oeko-Tex, a certification that clarifies and communicates the company’s sustainable production commitment. In addition to this, all products are Oeko-Tex 100 certified.

ILUNA’s newest digital programs:

• ILUNA has created the new e-shop offering its exclusive materials to smaller companies looking for added values as: creativity, innovation, made in Italy and responsibility. 
• The whole collection is also visible online at its web site, previous registration, and orders can be done directly online always aiming to customers care.

Today ILUNA represents the largest European lace producer, and thanks to its journey toward the most contemporary way to innovate that includes responsibility, has also become a reference point in the international market for a lace offer that is beautiful, innovative and responsible at the same time. An alchemy of design and sustainable innovation, the only eco-fashion line that includes lace and stockings, capable of combining ethics and high quality standards with a fashion image of bright and deep colors. 

METALBOTTONI has drawn up its new strategy for the year 2018, based on a targeted trade fair
schedule and on many product innovations. These innovations are part of a marketing approach
which is more and more branding ingredient-oriented, in order to highlight the added value
of the accessory as a component characterising and enhancing product recognition, as well as
strengthening its consulting activities for customers, thus offering true excellence in service.
There are three main elements pointing to a positive moment for METALBOTTONI: its recent
outstanding performance in double-digit on foreign markets (most notably in the northern
European region), the consolidation of consulting and support services aimed at redesigning the
perspective on the world of accessories, and its product range extension. The fourth pillar, actually
a fixture at METALBOTTONI, is sustainable innovation with the protocol called NO IMPACT which has
made a huge step forward thanks to new technologies which halved water consumption compared
to previous performances of the system, obtaining also better results in a shorter processing time,
saving electricity as well.

An ongoing pathway
There are many novelties to be displayed by METALBOTTONI at three of the most important events
in the industry early in the new year. The company from Bergamo will be present at Munich Fabric
Start (30 January – 1 February), then at Milano Unica (6-8 February), and finally in Paris for the new
edition of Première Vision Accessories (13-15 February).

At this year's Heimtextil, which took place from 9-12 January in Frankfurt, Trevira impressed visitors with a brand new fair concept. The company worked together with sixteen of its biggest customers to create a joint booth covering 1,305 square metres of Hall 4.2, drawing a large crowd.

Head of Marketing, Anke Vollenbröker, explained, "Thanks to our new approach and booth concept, we were able to present our brand Trevira CS in an open and welcoming manner plus highlight the good relationship we have with our customers."

Trevira CEO Klaus Holz added, "We are really pleased with the very positive feedback we have had from all sides in response to our grand Trevira CS joint booth. We would like to thank everyone who has contributed to the booth's success. The extremely positive market reaction has reassured us that this is a concept we can build on in the future."

A Trevira exhibition formed the centrepiece of the joint booth, showcasing the winning fabrics from the 2018 Trevira CS Creativity Competition, which this year featured "Colour" as its major theme. At the heart of the display, visitors could find out more about Trevira with the help of twelve tablets providing information in a variety of formats, including a staff presentation and a flyer about the new Trevira Sinfineco® brand.

Encircling this core and thereby completing the joint booth concept, sixteen major customers grouped their individual stands around this centrepiece to display their own new Trevira CS collections for residential and contract usage. The customers joining Trevira to create the booth were Baumann Dekor Ges.m.b.H., Engelbert E. Stieger AG, FIDIVI Tessitura Vergnano S.p.A., Georg + Otto Friedrich, Jenny Fabrics AG, Johan van den Acker Textielfabriek B.V., Mattes & Ammann GmbH & Co. KG, Pugi R.G. S.R.L., Spandauer Velours GmbH & Co. KG, SR Webatex GmbH / Getzner Textil AG, Swisstulle AG, Tessitura Mario Ghioldi & C. srl, Torcitura Fibre Sintetiche S.p.A., Torcitura Lei Tsu S.r.l. / Ilcat S.p.A., Vlnap a.s. / Wagenfelder Spinning Group and Wintex S.r.l..

Another major section of the Trevira booth was dedicated to the world of acoustics. Increasingly, customers are (re)discovering textiles as a way to significantly improve the quality of room acoustics, and this part of the booth also attracted numerous visitors.

A special highlight at the joint booth were the Trevira CS sports shoes, worn by Trevira staff as a key element of the brand's trade fair outfit. The shoes are an Adidas Originals Special Edition of the iconic Stan Smith Silhouette, which Adidas manufactured in cooperation with Kvadrat.

In keeping with annual tradition, the new Trevira CS Gold and Silver Club members were announced during the Heimtextil fair. The new members were presented with their awards at a formal ceremony on Tuesday evening (9 January).

Cost-efficient BCF yarn production for demanding processes with Sytec One from Oerlikon Neumag

Cost-efficient production of carpet yarns beyond commodity products can constitute a challenge. Highly standardized production systems must strike compromises with regard to throughput, quality or cost-efficiency. At the Domotex 2018, the world's largest trade fair for floor coverings, Oerlikon Neumag will present the Sytec One solution for demanding BCF processes.

The Sytec One is a BCF plant with only one end per position. Due to this single-end characteristic, it is particularly well suited for demanding production processes, such as recycled polyester or fine filaments. The reason: In the event of a yarn break, only one end breaks. All the other positions are not affected and continue to run. As a result, this plant has a higher efficiency compared with a multi-end technology plant. For example, with ten breaks a day, the efficiency of the Sytec One is still over 98%, while a threeend technology achieves only 92% efficiency.

Higher productivity due to the straight yarn path

The machine concept of the Sytec One with its absolutely straight yarn path in spinning and texturing also enables significantly higher process speeds compared to multi-end technologies. This results in a speed increase of up to 15%. In addition to standard processes, more demanding processes with higher break rates play an increasingly important role. "The product mix is critical to the choice of technology," said Martin Rademacher, vice president of sales Oerlikon Neumag. "We are in the comfortable position of being able to offer our customers both a single-end and a three-end technology."

Geleen, NL - Royal DSM, a global science-based company active in health, nutrition and materials, today announces that DSM-Niaga and ECOR are to start a research collaboration. The collaboration will focus on developing fully recyclable and healthier alternatives for particleboard, MDF and other panel materials which can be used in industries such as building & construction, furniture, interior decoration and displays. ECOR offers technology for circular materials and has an R&D facility in Venlo, the Netherlands.

Looking at the piles of waste generated by the interior and construction industries, design for recycling is inevitable. Both ECOR and DSM-Niaga have been redesigning products to be fully recyclable back into the same product. The irreversible combination of materials and ingredients used in most products made with MDF and particleboard is the biggest challenge for technically and economically feasible recycling. Both ECOR and DSM-Niaga want to outsmart complexity for healthier and recyclable products.

Eric Logtens, CEO ECOR-NOBLE Environmental Benelux commented: “The concept that traditional materials like tabletops are up for incineration or disposal after their life cycle will be eliminated. Combining ECOR and Niaga® technologies, the core materials of products can be made from recycled content, and can be fully recycled after use.”

Chris Reutelingsperger, Chief Technology Officer DSM-Niaga commented: “By combining ECOR and Niaga, waste becomes a treasure. I can’t stop thinking of all the possibilities, and I hope that designers will approach us for ideas to make beautiful products and challenge us to broaden the possibilities of these technologies.”

In recent months ECOR and DSM-Niaga explored a collaboration by combining each other’s technologies. The technology of ECOR can make materials from natural fibers, with water, pressure and heat alone. DSM-Niaga manufactures products by using a reversible adhesive. This adhesive enables easy decoupling of different material layers, for full recovery and high value recycling. Both technologies were combined and tested in diverse product applications, like furniture and displays. The preliminary results led to further investigating of applications and will lead to new fully recyclable products.

Both technologies combined offer a fully recyclable alternative to all products made from MDF and particleboard, without compromising on material safety, quality, and recyclability. The joint objective of both companies is to offer manufacturing processes to local companies, solving local waste problems and boosting local economies on a global scale.

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

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

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

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

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

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

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

About JD.com, Inc.

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

About Vipshop Holdings Limited

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

About Tencent Holdings Limited

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

Safe Harbor Statement

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

At its meeting on December 13, the Supervisory Board of Lenzing AG decided to reappoint Stefan Doboczky as Chief Executive Officer of the Management Board. Stefan Doboczky’s new contract will begin on June 1, 2018 and runs until the end of 2022.

“In recent years, Stefan Doboczky and his colleagues on the Management Board have been able to make excellent use of the favourable market conditions on the basis of the previous restructuring in order to transform an Austrian company with foreign investments into a truly global player with strong Austrian roots. This has created the basis for consistently pursuing the growth strategy we have embarked on with the entire team, even under difficult conditions, and thus securing the long-term future of the Lenzing Group. We are very pleased that Stefan Doboczky will continue to dedicate himself to these tasks over the next five years”, said Hanno Bästlein, Chairman of the Supervisory Board of Lenzing AG on the occasion of Doboczky’s reappointment.
In addition to Stefan Doboczky, the Management Board of Lenzing AG consists of Chief Commercial Officer Robert van de Kerkhof, Chief Financial Officer Thomas Obendrauf and Chief Technology Officer Heiko Arnold.

What Keeps Consumers Up at Night?

Climate change appears to be a bigger concern for consumers than recent media reports may have indicated. In the ground-breaking, global, quantitative consumer survey, “The Key to Confidence: Consumers and Textile Sustainability—Attitudes, Changing Behaviors, and Outlooks”, commissioned by the OEKO-TEX® Association in commemoration of its 25th Anniversary, climate change ranked third on a list of sixteen modern day worries on the minds of today’s consumers.

“The Key to Confidence” online study was conducted earlier this year with a worldwide sample of more than 11,000 clothing and home textile consumers. Designed and administered by global brand and sustainability research expert, Ellen Karp of Anerca International, the extensive study explored a broad assortment of consumer attitudes about textile sustainability including harmful substances, the industry’s environmental impact, and the social welfare of textile workers.

Prior to answering questions about clothing and home textiles in particular, consumers responded to several queries to gauge their attitudes about sustainability in general. To understand the relative importance of climate change, consumers were asked to pick the top five issues that worry them most from a list of sixteen political, economic, personal, and global problems. “Terrorism” ranked first with 49% of consumers listing it in their top 5, “illness and disease” was second with 42%, and “climate change” rated third with 41%. “My personal finances” came in fourth at 37%. “Opportunities for my children in the future” and “the political leadership in my country” tied for fifth with 31% each.

“Climate change has become a significant issue for consumers,” Karp concludes. “Erratic weather patterns, mounting scientific data, escalating political debate, and first-hand experience with environmental degradation combine to make climate change more of an immediate threat than people considered it to be just a decade ago.”

“For twenty-five years, OEKO-TEX® has helped reduce the use of harmful chemicals and increase sustainable manufacturing practices in the global textile supply chain,” says Anna Czerwinska, Head of Marketing and Communication at OEKO-TEX®. “Our certified clients are industry leaders in the production of compliant, high quality textiles that are tested for harmful substances and responsibly made with respect for the environment and employees. They will be well positioned to capitalize on the growing consumer demands for sustainable textile products.”

A webinar with Ellen Karp presenting the research findings can be viewed at https://rebrand.ly/oekotexTKTCweb. To learn more about “The Key to Confidence: Consumers and Textile Sustainability—Attitudes, Changing Behaviors, and Outlooks”, please contact Trish Martin at t.martin@oeko-tex.com or Anna Czerwinska at a.czerwinska@oeko-tex.com. Read more about the OEKO-TEX® portfolio of testing, certification, and label products at: www.OEKO-TEX.com