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I'd like a full report on MAS Holdings based in Sri Lanka and more importantly details about their MAS Innovation Lab too.
Hi! Thanks for your question on MAS Holdings and the MAS Innovation Lab. MAS is considered one of Asia's forerunners in the manufacturing of intimate apparel, sportswear, swimwear, and performance wear. "MAS Holdings has established themselves as the preferred supplier of the world’s foremost fashion brands." Below, you will find a deeper dive of my findings, categorized by background and history of growth, products/services, recent activities, and financial information.
METHODOLOGY
I began my research by gathering information from trusted sources, including the Sri Lanka Export Development Board, on the history and background of MAS Holdings. The Export Development Board, as well as the company's website, provided specific information on the products and services offered by MAS. There was very limited data available on the financial status of the company; however, I was able to find a wealth of information and news articles regarding current areas of research and development, as well as ways the company is implementing environmentally friendly practices to promote sustainable design and manufacturing. Finally, I focused on the company's commitment to investment and innovation, per the request.
BACKGROUND/HISTORY OF GROWTH
In 1986, three brothers set up a small factory in Ratmalana with 26 sewing machines and 60 employees. Their focus was to manufacture synthetic dresses for U.S. based Limited Brands, Inc. through Mast Industries. In 1992, MAS established a joint-venture partnership with Mast Industries and Germany's Triumph International to set up a plant for the manufacture of bras in Horana, known as Bodyline. 1993 saw the emergence of Slimline, a joint venture between Mast Industries and Courtaulds Clothing in the UK, a sourcing arm of MAS, which went on to make MAS a global name.
Linea Clothing, in the Maldives, was MAS' first venture overseas in 1996. Also in 1996, Stretchline was established as a joint venture between Mast Industries and Charnwood Elastics in the UK. 2004 resulted in a partnership with Noyon Dentelles of France, and the creation of Noyon Lanka, South Asia's first lace manufacturing facility. Partnerships with Germany's Prym Intimates and Spain's Dogi International Fabric and Textprint SA have resulted in a regional supply base that consolidates intimate apparel accessories, warp-knitted fabrics, and fabric printing capabilities. Finally, a partnership with Speedo International resulted in MAS Linea Aqua, one of the first dedicated swimwear plants in the region.
PRODUCTS/SERVICES
MAS Holdings and all of the company's facilities manufacture a plethora of products and services. MAS works with vendors to create new products, technologies, and concepts. From an innovation standpoint, the company's fully integrated model allows for innovation across the value chain. "The company manages the entire value chain – from product design, development, manufacturing and raw-material supply – whilst commanding the latest technology and know-how. With in-house research, design, development and product-engineering capabilities, MAS provides sophisticated concept-to-delivery solutions to its customers."
MAS Intimates is responsible for the design and manufacture of niche-market lingerie for various fashion retailers and brands. Today, MAS is the leading strategic partner for Victoria's Secret. In 2007, MAS launched Amante, its own intimate apparel line targeting the Indian market. Currently, this division of MAS maintains 14 manufacturing facilities in 4 countries. In addition to Victoria's Secret, its customer portfolio for the Intimate Apparel line includes Marks & Spencer, La Senza, GAP, Soma, DBA, H&M, Calvin Klein, Spanx, Oysho, and Athleta.
MAS Active prides itself on being "dedicated to producing revolutionary apparel solutions people can excel in." In addition, MAS Swimwear emphasizes lean manufacturing practices and boasts advanced technology and product engineering. Linea Aqua supplied 13 countries with swimwear for the 2004 Olympics through a partnership with Speedo, and was also seen in the 2006 World Championships in Melbourne.
The Fabric Cluster of MAS is very unique. Most manufacturers have to outsource raw materials; however, MAS maintains the Fabric Cluster, which embodies numerous facilities from fabric to fabric printing and trim. "Noyon Lanka is the only knitted lace manufacturer in South Asia producing multiple forms of lace; Trischel is a vertically integrated circular and warp knit fabric facility which is again the only one of its kind in South Asia; the Stretchline Group designs and produces narrow performance fabrics including elastics for a wide range of apparel; Textprint Lanka is a fully integrated fabric printing operation with the ability to print on both cotton and synthetic fabrics making it the only one of its kind in Sri Lanka and Prym Intimates designs and manufactures a wide range of accessories and embellishments for intimate apparel." Spanning over 10 countries, the Fabric Cluster allows MAS to offer a holistic supply chain solution to its customers.
RECENT ACTIVITIES/PARTNERSHIPS
In July, 2016, a partnership was announced between MAS Holdings and Flex, the creator of intelligent products for a connected world. The two companies are working on the development of "new wearable technologies that accelerate and integrate the Intelligence of Things into clothing and enable MAS Holdings more natural, intuitive interactions between people and technology." Smart clothing is estimated to top 18 million articles of clothing annually by 2021, a 48% compound annual growth rate.
MAS continues to focus on environmental responsibility. In August, 2016, it was announced that Prym Intimates, MAS subsidiary, successfully launched a UNIDO approved chemical leasing model to treat its waste water. This was a follow-up to the implementation of the same model by MAS Active Linea Intimo in 2015. "All companies under MAS have already pledged to a road map to be non-toxic in both their products and processes by 2020 and have strict compliance mechanisms to align themselves to a global standard called ZDHC (Zero Discharge of Hazardous Chemicals) which is a requirement from major apparel brands to reduce the environmental impact of the textile industry."
A major strategic investment for MAS Holdings has been the MAS Fabric Park. This is the first "privately owned apparel intensive free trade zone" in Sri Lanka, and plays a critical role in the MAS supply chain. The 165 acre park provides convenience and efficiency, with resident experts in every area from design to delivery. It is designed to be self-sufficient and environmentally friendly in its operations, and, "Has integrated with resources of the ecosystem and the community to ensure continuity and further development of its operations."
In June, 2016, it was announced that MAS Holdings would invest in Haiti's Caracol Industrial Park. Built in 2012, Caracol Industrial Park is a 252 hectare site that was built with money secured from hurricane relief funds, U.S. Government contributions, a loan from the Inter-American Development Bank and donations from the Clinton Foundation. The park contains a 10-megawatt power plant, a water treatment facility, and development of a port in Fort- Liberté. The development of manufacturing units will make MAS the second-largest investor in the park.
INNOVATION
Innovation is considered to be a culture at MAS. They employ and partner with global leaders and experts in order to develop and manufacture products that meet three questions, "What's needed, what's required, and what's possible?" Through the use of "science, technology, and persistence," MAS is able to create unique products that create a demand in the global market. MAS Innovation has led to the creation and development of several solutions for the apparel industry, including the Speedo FastSkin FS-Pro Swimsuit and the Nike Revolutionary Support Bra, discussed above.
FINANCIAL AND COMPANY SIZE INFORMATION
Today, MAS Holdings maintains 48 state-of-the-art facilities in 15 countries. With over 79,000 employees, the company has an annual turnover of over $1.6 billion. MAS maintains strategic partnerships with Brandot International Ltd. (USA), EME Holdings (Mexico), Ets Lucien Noyon Et Cie (France), Groupo Deal (Mexico), Hogwarts Ltd (Hong Kong), and Ling Chee Yan (Hong Kong).
CONCLUSION
To wrap it up, MAS Holdings is a global front runner in apparel manufacturing. They offer services across the value chain, from development and design to technology and manufacturing, that have secured their place in the industry. The company continues to implement environmentally friendly practices in an effort to provide services and products in the most sustainable way possible. Innovation is considered a culture at MAS, and as such, "is imperative in taking MAS to even greater heights by leveraging on our core competencies and growth in adjacent business areas." They are continuing to work with partner companies to develop new products and stay ahead of the competition.
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