MAS Holdings
MAS Holdings, the largest apparel tech company in South Asia, is among the most recognized design-to-delivery solution providers in apparel and textile manufacturing across the world. The company was founded in 1987 by Mahesh, Sharad and Ajay Amalean, deriving its name from the initials of the three brothers[3]
Native name | ඇම්.ඒ.එස්. හෝල්ඩින්ග්ස් |
|---|---|
| Formerly | Sigma Industries (1984 – 1987) |
| Type | Private |
| Industry | Apparel & Textile |
| Founded | 1987 in Panadura, Sri Lanka |
| Founders | Mahesh Amalean Sharad Amalean Ajay Amalean |
| Headquarters | Colombo, Sri Lanka |
Areas served | 16 countries |
Key people | Deshamanya Mahesh Amalean (Chairman) Sharad Amalean (Deputy Chairman) Ajay Amalean (Co-Founder) Suren Fernando (CEO) |
| Products | Intimate wear Sports and active wear Performance wear Textiles IT Brands Industrial parks Swimwear [1] amantè, Become (clothing), Spryng |
| Revenue | US$ 2 Billion [2] ( 2018 ) |
Number of employees | 99,000+ [2] ( 2019 ) |
| Website | masholdings |
MAS Holdings began as an intimate apparel manufacturer and later diversified into sportswear, performance wear and swimwear.[4] Today, the MAS portfolio has expanded into brands, wearable technology, FemTech, start-ups and industrial parks.
The organization is home to a community of 118,000 people, spanning across 57 manufacturing plants in 17 countries, with established design locations in Colombo as well as in key style centers around the world, including New York, London and Hong Kong.[5]
Over 30 years of operations, MAS has gained global recognition for its product excellence and craftsmanship, showcasing innovative design capabilities that are revolutionizing the apparel and textile industry.[6][7][8][9] MAS as an industry leader is esteemed for its ethical working environment, sustainable business practices,[10][11][12][13][14][15][16] and for the organization's tireless efforts in social development and women’s empowerment.[17][18][19][20] By empowering people, enhancing products, and engaging in meaningful partnerships, MAS’ purpose is "To be a changemaker, enabling dreams and enriching the fabric of life on our planet".[21]
Suren Fernando assumed duties as the Chief Executive Officer of MAS Holdings from 1 January 2020 as the first non-family member to give leadership to MAS.[22]
MAS was recognised as one of the region’s most innovative companies, securing the Clarivate South and Southeast Asia Innovation Award in 2021, in the ‘Corporations’ category.[23] In 2022, MAS’ Holdings Ocean Strainer initiative was named as a finalist at Fast Company’s 2022 World Changing Ideas Awards in the Water Category.[24] Twinery, Innovations by MAS was No. 18 for its world class innovative culture and people at Fast Company’s Best Workplaces for Innovators list 2022.[25]
MAS announced the launch of the MAS Foundation for Change, an Independent non-profit organization aimed at tackling social and environmental challenges faced due to biodiversity loss, ocean pollution, and lack of access to clean water.[26]
History
Early ages
1980s to 1990s
In 1984, They pooled US$10,000, bought 40 sewing machines and founded an apparel company named Sigma Industries.
In 1986, MAS formed its first joint venture with MAST Industries, to manufacture women’s synthetic dresses.
2000s
In 2000, MAS launched its first in-house intimate apparel brand, amantèin India.[27][28]
In 2004 when Nike formed a strategic partnership with MAS Holdings.[29]
In 2007 and 2008, MAS holdings opened Fabric Parks in Sri Lanka and India.
In 2008, MAS Holdings unveiled Thurulie, the world’s first carbon neutral, eco-manufacturing apparel plant.[30]
2010-Present
MAS opened up facilities in Killinochchi, northern Sri Lanka, to provide employment opportunities.[31]
Global Operations
After 2010, MAS Holdings gradually began expanding globally, opening manufacturing facilities in Bangladesh, Indonesia, Honduras, Jordan, Vietnam and USA.[32][33]
Expansion
In 2016, the company announced its investment into manufacturing facilities in Caracol Industrial Park, Haiti.[34] In 2017, the company acquired Acme-McCrary as its first manufacturing and development centre in Asheboro, USA.[32]
Key Business Units
Apparel Manufacturing
Intimate Wear (MAS Intimates and Bodyline)
MAS Intimates - includes bras, briefs and corsetry. Through MAS Design and its design and development centres in Asia, America and UK, the company works with its customers from the initial concept development process. In 2011, MAS partnered with Marks and Spencer to create what was promoted as the world’s first carbon neutral lingerie product range for the UK High Street.[35]
Dedicated Sportswear (MAS Active and MAS KREEDA)
MAS Active - Established in 2005, MAS Active is a provider of sportswear, athleisure and men's essentials (T-shirts, underwear, and boxers). MAS Active manufactures performance wear (sports bras, performance bra tops and pants, yoga wear), sleepwear and "lifestyle wear" (hoodies, T-shirts, pants, jackets). As of September 2017, MAS Active consisted of multiple operation centers, a design and innovation studio, 6 factories in Sri Lanka and overseas ventures in Haiti, Italy and USA.
MAS KREEDA derives its name from the Sanskrit word for sports and is MAS Holdings’ exclusive partner for Nike. MAS KREEDA has 14 manufacturing facilities across Jordan, India and Sri Lanka and was launched in 2017.
Swimwear (Linea Aqua)
MAS Holdings partnered with Speedo International (UK) and Brandot International (USA) in 2001, to form Linea Aqua. Linea Aqua has manufactured competition swimwear for Speedo for the 2004 Athens Olympics and 2006 Melbourne World Championships.[36]
Twinery - Innovations by MAS
Twinery-Innovations by MAS (formerly known as MAS Innovation) was formally launched in 2013 and is a formal cohesion of the fragmented research and development divisions within the organization. The company develops its own products through in-house teams.
At the wearable technologies show in San Francisco in 2017, MAS unveiled ‘Firefly’, the result of a collaboration with Flex to integrate IoT into clothing. The smart clothing embeds a series of flashing LED lights in an attempt to provide better safety measures for runners, cyclists and construction workers.[37]
MAS Innovation has partnered with international universities such as Massachusetts Institute of Technology[38] and Stanford University[38] as well as Sri Lankan universities to research on areas such as wearable technology, health, wellness, digitization, and customization.[39]
MAS Brands
amantè, an MAS-owned lingerie brand designed for South Asian women, was launched in India in 2007.[40] amantè was subsequently launched in Sri Lanka in 2012[41] in Pakistan in 2016 and in Maldives in 2017.
In November 2014, MAS Brands gained controlling stake of Ultimo, a Glasgow headquartered designer lingerie brand.[42]
MAS Fabric Parks
MAS Holdings has established two fabric parks – one in Thulhiriya, Sri Lanka and another in Chennai, India. MAS Fabric Park, India was a joint venture partnership on a 737-acre area, located close to the Krishanapatnam Seaport and Chennai airport.[43]
The MAS Fabric Park in Thulhiriya was Sri Lanka’s first privately owned apparel intensive free trade zone.[44] The eco-friendly fabric park in Thulhiriya spans 165 acres and provides employment to 8,200 associates.[44]
In 2017, the company announced the launch of a new industrial park in Giriulla, Sri Lanka.[44] The abandoned lace facility, which was shut down for twelve years, was handed over to MAS Holdings to develop and run, by Prime Minister of Sri Lanka, Ranil Wickremesinghe.[45]
Sustainability
Social Sustainability
MAS Holdings were among key players in the Sri Lankan apparel industry to open manufacturing units in rural areas, moving away from cities. As a result, MAS Holdings worked closely with the communities it was based in. MAS Holdings was also one of the first Sri Lanka-based conglomerates to provide employment opportunities in Northern Sri Lanka after the conclusion of Sri Lanka’s civil war.[31]
In 2003, MAS launched an in-house programme named Women Go Beyond, designed to encourage and recognize female achievers, community leaders and sportswomen within the organization.[29] Founder, Mahesh Amalean, was recognized with a U.N. award at the inaugural women’s empowerment principles awards in 2013 for MAS’ efforts to advance female empowerment.[46] In 2017, MAS Women Go Beyond partnered with the UNFPA in Sri Lanka to identify and address gaps and gender inequalities in the working environment.[47]
Environmental Sustainability
As of 2016, 41% of the company’s operations run on renewable energy.[48] In 2008, Thurulie, the world’s first clothing factory powered solely by carbon-neutral sources, was rated LEED Platinum by the U.S. Green Building Council.[30]
MAS’ Great Brick Project at MAS Fabric Park, Thulhiriya, converts sludge to eco-bricks and was a long-term solution to achieve zero landfill, addressing the problem of ETP sludge and effluent waste in the apparel industry. In 2015, 600 tonnes of ETP sludge was converted into 70,000 bricks and used for the group’s landscaping facilities.[49]
References
- ^ http://www.masholdings.com/archive_17A/Mar07_1488908462CH.php[dead link]
- ^ a b "Leading Apparel Manufacturer in the World".
- ^ "Success Story of MAS Holdings | Export Development Board". www.srilankabusiness.com. Retrieved 2022-12-28.
- ^ "MAS Active achieve substantial performance improvements with FastReactPlan". Coats Digital. Retrieved 2022-12-28.
- ^ www.coursehero.com https://www.coursehero.com/file/p7tjbkb3/dabbled-in-sportswear-functional-clothing-and-swimwear-MAS-Holdings-is-one-of/. Retrieved 2022-12-28.
{{cite web}}: Missing or empty|title=(help) - ^ "How MAS Holdings became one of Asia's most Innovative Companies – Echelon". www.echelon.lk. Retrieved 2022-12-28.
- ^ "MAS elevates femtech apparel solutions". www.knittingindustry.com. Retrieved 2022-12-28.
- ^ "Zena launches impact protection vest manufactured by MAS Holdings with lower environmental impact | YnFx". Retrieved 2022-12-28.
- ^ publisher (2022-08-05). "Twinery, Innovations by MAS, Ranks No. 18 on Fast Company's Fourth Annual List of the 100 Best Workplaces for Innovators". Ceylon Business Reporter. Retrieved 2022-12-28.
- ^ "Product, Lives and Planet Changed for Good: How an apparel manufacturer embraces a holistic approach to sustainability". www.reuters.com. Retrieved 2022-12-28.
- ^ "'Exporting Conglomerate of the Year' - MAS receives Presidential Awards - The Textile Magazine". Retrieved 2022-12-28.
- ^ Abdulla, Hannah (2021-08-31). "MAS Holdings enters phase 2 of Photon energy project". Just Style. Retrieved 2022-12-28.
- ^ "MAS Holdings: Strategic Corporate Social Responsibility in the Apparel Industry ^ INS451". HBR Store. Retrieved 2022-12-28.
- ^ "Get your green pants here". The Economist. ISSN 0013-0613. Retrieved 2022-12-28.
- ^ Editorial, SJ Guest (2022-08-26). "Planetones: Noyon Lanka Launches Naturally Dyed, Sustainable Lace". Sourcing Journal. Retrieved 2022-12-28.
- ^ "MAS Holdings Finalist In Diversity, Equity & Inclusion Categ... | MENAFN.COM". www.menafn.com. Retrieved 2022-12-28.
- ^ "Anusha's Caribbean dream". www.sundaytimes.lk. Retrieved 2022-12-28.
- ^ "Empowering women at MAS Holdings". www.sundaytimes.lk. Retrieved 2022-12-28.
- ^ "Media Centre - MAS". MAS Holdings. Retrieved 2022-12-28.
- ^ "Empower Women - MAS Holdings". EmpowerWomen. Retrieved 2022-12-28.
- ^ "Our Purpose". MAS Holdings. Retrieved 2022-12-28.
- ^ "MAS Holdings appoints new CEO". Times Online - Daily Online Edition of The Sunday Times Sri Lanka. Retrieved 2022-12-28.
- ^ publisher (2021-01-15). "Twinery, Innovations by MAS Recognised as one of Region's Most Influential Innovators". Ceylon Business Reporter. Retrieved 2022-12-28.
- ^ "MAS Holdings winner of Fast Company's 2022 'World Changing Ideas Awards'". MSN. Retrieved 2022-12-28.
- ^ "Twinery, Innovations by MAS, ranks No. 18 in Annual List of 100 Best Workplaces for Innovators". Daily News. Retrieved 2022-12-28.
- ^ "MAS Holdings launches the MAS Foundation for Change". MAS Holdings. Retrieved 2022-12-28.
- ^ "MAS Holdings". Sri Lanka Export Development Board.
- ^ "Speedo swimwear in joint venture with MAS holdings global". The Economic Times. Daily News Sri Lanka.
- ^ a b "Market Movers: Lessons from a Frontier of Innovation" (PDF). International Finance Corporation and Sustainability (2007). Retrieved 2017-07-12.
- ^ a b "Five Of Sri Lanka's Best Green Buildings". Roar Reports.
- ^ a b Anand, Geeta (17 May 2016). "Rebuilding Lives, and Homes, Shattered by Sri Lanka's Civil War". The New York Times.
- ^ a b "Acme-McCrary sale: A 'win-win' for Asheboro". The Courier Tribune.
- ^ "Sri Lanka's MAS Holdings to set up units in Haiti". Apparel Resources.
- ^ "Sri Lanka's MAS Holdings announces opening a plant in Haiti". Colombo Page.
- ^ "World's first carbon neutral bra". Telegraph.
- ^ "MAS Holdings" (PDF). Super Brands.
- ^ "FIREFLY, THE FIERY CLOTHES OF THE FUTURE". ReadMe.
- ^ a b "MAS Holdings obtains high tech patent from SLINTEC". Daily News.
- ^ "MAS working to build capacity for apparel industry". Daily Mirror.
- ^ "MAS lingerie brand tackles Indian market". Just-Style. Retrieved 2017-08-06.
- ^ "Amante Premium Lingerie For The Sri Lankan Woman". Business Today. Retrieved 2017-08-06.
- ^ "Michelle Mone announces Ultimo stake sale". BBC News. 3 November 2014. Retrieved 2017-08-06.
- ^ "MAS Holdings expands into India with apparel park". Lanka Business Online.
- ^ a b c "MAS launches second Industrial Park in Sri Lanka". The Island.
- ^ "MAS to boost Lankan exports with $ 28 m investment in Fabric Park in Giriulla". DailyFT.
- ^ "With 550 Corporate Champions, Women's Empowerment Principles Drive Critical Private Sector Change to Advance Gender Equality and Inclusion". Women's Empowerment Principles.
- ^ "MAS joins hands with UNFPA to ensure gender-mainstreamed corporate policies". UNFPA Sri Lanka. 7 March 2017.
- ^ "MAS solar solution at Nike dedicated plant in Sri Lanka". Just-Style.
- ^ "MAS is winning the war on sludge – one brick at a time". DailyFT.
External links
- Case Study: MAS Holdings An excerpt from Market Movers: Lessons from a Frontier of Innovation
- MAS Holdings: Strategic Corporate Social Responsibility in the Apparel Industry
- United Nations Global Compact 2014 - Communication On Progress
- Victoria's Secret: MAS Holdings
- Strategic Supply Chain Management