LUDWIGSHAFEN, Germany — August 8, 2024 — BASF gives a clear sign towards biotransformation of their (Meth)Acrylate portfolio and switches their production to bio-based Ethyl Acrylate (EA) starting Q4 2024. With a 14C-traceable bio content of 40 percent according to DIN EN 16640 and a low Product Carbon Footprint (PCF1), bio-based EA from BASF helps customers worldwide to reach their sustainability goals. The product offers a PCF reduction of approximately 30 percent compared to fossil-based EA. Additionally to regular bio-based EA, BASF also offers bio-based Ethyl Acrylate BMB ISCC Plus.
Here, the remaining carbon content originated from fossil based acrylic acid is ISCC PLUS certified, and by applying BASF’s biomass balance (BMB2) approach, this variant offers a further reduced product carbon footprint.
BASF’s bio-based EA is produced in Ludwigshafen using bioethanol exclusively as alcohol source. The chemical and technical specifications of the new bio-based product are identical with the traditional fossil-based version. “With bio-based EA we can offer our customers a readily available drop-in solution for many applications. Ethyl Acrylate is a well-established product that will support our customers in reaching their sustainability goals. We also want to give a clear signal to the market that we drive our own sustainability transformation. From Q4 2024 onwards, we will phase out fossil-based EA and exclusively offer bio-based Ethyl Acrylate going forward,” said Dr. Reiner Geier, senior vice president, Industrial Petrochemicals Europe.
BASF’s bio-based Ethyl Acrylate uses sustainable bioethanol predominantly from European sources with grain as a feedstock. BASF applies strict sustainability criteria for the material use of biomass. The bioethanol purchased by BASF does not compete with food production: Bioethanol is mainly produced from residues of starch production, lower quality grains or molasses, all of which are not used in food production. Grains that are neither suitable for use as food nor feed can also be used for bioethanol production.
Bio-based EA offers a broad application range and can be used in a wide variety of polymer dispersion applications, with the Coatings and Adhesives industries as the primary target industries.
BASF’s bio-based Ethyl Acrylate is ‘OK biobased’3 certified by TÜV Austria since March 2024.
1 BASF’s product carbon footprint (PCF) calculations for conventional products follow the requirements and guidance given by ISO 14067:2018. A TÜV Rheinland methodology review has certified that the SCOTT PCF methodology developed and used by BASF SE is based on scientific evidence, meets ISO 14067:2018 and the Together for Sustainability PCF policy, and reflects the state of the art (ID no. 0000080389: BASF SE – Certipedia). TÜV Rheinland also confirms that the biomass balance (BMB) PCF calculation method and the associated PCF reduction for BMB-certified products follow the conventional LCA method in accordance with ISO 14067 and the Together for Sustainability (TfS) policy.
2 Find out more about BASF’s biomass balance approach at: https://www.basf.com/global/en/who-we-are/sustainability/we-drive-sustainable-solutions/circular-economy/mass-balance-approach/biomass-balance.html.
3 Find out more about the ‘OK biobased’ certification here: https://en.tuv.at/ok-biobased-en/
REMSCHEID, Germany — August 8, 2024 — As a traditional textile country, India has also established a strong position in the field of manmade fiber production in recent decades. The West Asian country has now become the second largest polyester yarn manufacturer in the world. The Indian textile industry covers the entire value chain from the melt to the finished textile end product.
Rising demand for industrial yarn in India seatbelt machine-individually configured; the system concept for High Tenacity (HT) yarns and its unique properties on the market ensure the production of high-quality yarn for the manufacture of seat belts.
The technical textiles sector in particular is regarded as a future market. With an average growth rate of 12 percent since 2013, this dynamic sector accounts for around 13 percent of the entire Indian textile and clothing market, according to the government organization Invest India. The market volume has almost doubled in the past ten years. In India, the production of industrial yarn has so far relied heavily on polyamide. Oerlikon Barmag has a strong market position here. “In recent years, we have commissioned plants for numerous customers,” said Dr. Wolfgang Ernst, head of Sales of the Oerlikon Business Unit Manmade Fibers Solutions.
Increasing demand for industrial polyester yarns
The construction boom and the increasing use of geotextiles and industrial textiles in various infrastructure projects as well as in agriculture and aquaculture show enormous growth potential. This is supported by the government’s 2021 industrial development program, which includes technical textiles as one of ten priority sectors. The program is based on reducing dependence on imports. Until now, a large proportion of the technical textiles and yarns required in the country have been imported.
The trend towards high-quality technical textiles for the domestic market has also been noted by the Remscheid-based machine and plant manufacturer. “We are receiving more and more inquiries from Indian customers for spinning systems for industrial yarns,” Dr. Ernst said. “What is new is the great interest shown by companies from downstream processes that are looking for backward integration. We attribute this to the stricter regulations of the Bureau of Indian Standards. Until now, industrial yarns were mainly imported from China. In order to guarantee the quality of the processed yarns, this has been strictly regulated by the government since last year. It therefore makes sense for Indian textile producers to enter the yarn manufacturing sector.” This development was also noticeable at this year’s Techtextil in Frankfurt, where the experts from Oerlikon Barmag were able to hold a disproportionately high number of technical discussions with Indian customers and interested parties.
Oerlikon Barmag’s industrial yarn technology offers an extensive process window – without compromising on yarn quality. The flexible spinning concepts enable a variety of possible yarn products for numerous applications. The portfolio includes processes for the production of polyamide and polyester yarns with the required physical properties for a wide range of end applications. Whether HMLS yarns for car tires, yarns for geotextiles, safety belts or even airbags — yarn producers will find a tailor-made concept for every end application at the Remscheid-based solution provider.
Posted: August 8, 2024
Source: Oerlikon Polymer Processing Solutions Division / Oerlikon Group
WASHINGTON, D.C. — August 8, 2024 — Monthly inbound cargo volume at the nation’s major container ports could see a near-record surge this month as retailers bring in merchandise ahead of a potential strike at East Coast and Gulf Coast ports this fall, according to the Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates.
“Retailers are concerned by the possibility of a strike at ports on the East and Gulf coasts because contract talks have stalled,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Many retailers have taken precautions including earlier shipping and shifting cargo to West Coast ports. We hope to see both sides resolve this issue before the current contract expires because retailers and the economy cannot afford to see a prolonged strike. This comes on top of ongoing disruption issues including the attacks on commercial vessels in the Red Sea. Vessel diversions have led to increased shipping times and costs and have led to equipment shortages and congestion in Asian ports.”
The contract between the International Longshoremen’s Association and the United States Maritime Alliance covering East Coast and Gulf Coast ports is set to expire on September 30. Negotiations have broken down and the ILA has threatened to strike if a new contract is not reached by then. NRF has continued to urge the parties to return to the table to continue negotiations. Rising freight rates have also prompted importers to ship earlier.
“Importers are continuing to grow their inventories and are shifting cargo to the West Coast as a precaution against potential labor disruptions,” Hackett Associates Founder Ben Hackett said. “We calculate that the shift has pushed the West Coast share of cargo we track to above 50% for the first time in over three years.”
U.S. ports covered by Global Port Tracker handled 2.16 million Twenty-Foot Equivalent Units — one 20-foot container or its equivalent — in June, the latest month for which final numbers are available. That was up 3.6 percent from May and up 17.7 percent year-over-year. That brought the total for the first half of 2024 to 12.1 million TEU, up 15 percent over the same period in 2023. (The totals include estimates for the ports of New York/New Jersey and Miami, which have not reported TEU counts for June.)
Ports have not yet reported July’s numbers, but Global Port Tracker projected that volume shot up to 2.34 million TEU, up 22.1 percent year-over-year and the highest level since the record of 2.4 million TEU set in May 2022. August is forecast to also total 2.34 million TEU, up 19.2 percent year-over-year.
September is forecast at 2.16 million TEU, up 6.5 percent year over year; October at 2.09 million TEU, up 1.7 percent; November at 1.98 million TEU, up 4.4 percent, and December at 1.94 million TEU, up 3.5 percent. Those numbers would bring 2024 to 24.9 million TEU, up 12.1 percent from 2023.
The import numbers come as NRF is forecasting that 2024 retail sales — excluding automobile dealers, gasoline stations and restaurants to focus on core retail — will grow between 2.5 percent and 3.5 percent over 2023.
Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at NRF.com/PortTracker . Subscription information for non-members can be found at www.globalporttracker.com.
WASHINGTON, D.C. — August 8, 2024 — National Council of Textile Organizations (NCTO) President and CEO Kim Glas issued the following statement today welcoming the introduction of the bipartisan “FIGHTING for America Act, a bill that would eliminate de minimis exemptions for import-sensitive products and goods subject to trade remedies, including the majority of textile and apparel imports, while helping staunch the flow of millions of low value duty-free shipments entering the United States daily.
Statement by NCTO President and CEO Kim Glas:
“We commend Senate Finance Committee Chairman Ron Wyden (D-OR), and Senators Sherrod Brown (D-OH), Bob Casey (D-PA), Susan Collins (R-ME), and Cynthia Lummis (R-WY) for their leadership and support for this bipartisan legislation that would tighten the rules for the entry of millions of imported packages coming through the de minimis loophole each day and help level the playing field for domestic textile and apparel manufacturers severely harmed by the onslaught of these shipments.
“This bill eliminates de minimis for the most import-sensitive products and goods subject to trade remedies, including the vast majority of textile and apparel imports from China and the rest of the world. It is a major step in the right direction toward closing the loophole. De minimis shipments have grown exponentially due to the explosion of e-commerce and the growth of companies like Shein and Temu that have built their business models around this duty-free loophole. As a result, the U.S. market has been inundated with a flood of low value, subsidized and often illegal and tainted imports that are endangering U.S. consumers and undermining the U.S. textile and apparel production chain.
“We believe Senator Wyden’s legislation will go a long way toward thwarting bad actors who have been profiting from this unchecked gateway by sending in goods made with forced labor, counterfeits, toxic goods, and illicit narcotics.
“This bill is the most comprehensive approach to de minimis reform to date. It would not only close de minimis to the vast majority of textile and apparel imports, but also impose new penalties for violations, require additional data reporting on all de minimis packages, and impose small customs user fees on packages. We are encouraged by this strong legislative approach and believe it will help shield and support the vital domestic textile and apparel manufacturing supply chain that employs more than 501,000 workers and produces $64.8 billion in output.”
Posted: August 8, 2024
Source: National Council of Textile Organizations (NCTO)
HUNTINGTON BEACH, Calif. — August 7, 2024 — FLEXFIT®, renowned for its original stretch-fitted cap and unparalleled comfort and style, is collaborating with the World Surf League for the 2024 US Open of Surfing at Huntington Beach Pier. As part of Yupoong’s 50th anniversary celebrations, Flexfit will unveil the new FLEXFIT SEAWOOL® Collection at the official WSL merchandise store.
FLEXFIT SEAWOOL is a revolutionary sustainable collection, created by textile crafted from discarded oyster shells and recycled plastic waste. This innovative material boasts exceptional properties such as odor control, moisture management, and thermal regulation, making it perfect for everything from fall and winter apparel to athletic wear.
FLEXFIT, celebrating 50 years and launching its sustainability pledge, ‘Root For Tomorrow’, with WSL at the forefront of headwear technology, showcasing its innovative effort and pursuit towards comfort perfection, all the while lessening the burden left for future generations. Make sure to visit the WSL Store today and check out Flexfit’s latest innovation: the Flexfit Seawool hat!
Yupoong, established in 1974, launched the category defining FLexfit in 1994, with the vision and goal to revolutionize the limits of headwear and performance comfort. 50 years later, Yupoong® is the undisputed world’s No. 1 hat company, in the global market by a significant margin, Chairman Cho is called ‘The King of Hats.’
OBERTSHAUSEN, Germany — August 7, 2024 — After a break, KARL MAYER North America will return to exhibit at CAMX, the most important composites trade show in North America, September 9-12, 2024, in San Diego.
The KARL MAYER GROUP subsidiary can be found at booth EE54 in the San Diego Convention Center. Here it will present as an innovative partner to the composites industry with high-performance machines such as the COP MAX 4, a flexible all-rounder to produce multilayer, multiaxial fabric structures; the COP MAX 5, specifically for processing carbon fibers; and the UD 700 fiber spreading system.
Furthermore, a new machine was launched this spring. It is called MAX GLASS ECO and impresses with its perfect price-performance ratio. If the focus is on the highly productive manufacturing of goods for standard applications made exclusively from glass fibers, the new MAX GLASS ECO is worth a look.
Hemp Ski At Techtetxil 2024
Besides the machines, the experienced sector player supports customers with pioneering application developments. The focus of the medial presentation will be the processing of natural fibers into sustainable composite reinforcements. In cooperation with representatives of the winter sports industry, KARL MAYER has already processed hemp tapes and flax fibers into non-crimp fabrics for snowboards and skis with COP MAX 4.
Lutz Heinig, Sales Manager at Technical Textiles at KARL MAYER North America
Examples were launched at the last editions of this year’s Techtextil and JEC World which were very well received by visitors. Lutz Heinig, Sales Manager at Technical Textiles at KARL MAYER North America, is excited to present to the American trade audience. “The global composites industry is under enormous pressure to reduce its ecological footprint. Our non-crimp fabrics made from natural fibers can make an important contribution to this,” says the market expert. He also looks forward to welcoming customers and introducing companies new to this sector to KARL MAYER’s innovative technologies.
BIRMINGHAM, England — August 7, 2024 — Aquapak Polymers Ltd., which specializes in polymer-based material technologies that can deliver both performance and environmental responsibility at scale, has today announced the appointment of sustainability and circular economy expert, Debbie Luffman, to its Advisory Board.
Luffman has over 20 years’ experience of working in fashion, textiles and sustainable business. She currently runs the change agency Think Circular, which helps businesses to unlock opportunities through a circular approach to design, sourcing and exploring alternative means of production and consumption.
For 14 years, she was product director at outdoor clothing brand and Bcorp, Finisterre, where she led ambitious innovation initiatives, and implemented new business models and strategic partnerships to advance circularity. Luffman is also a carbon literacy facilitator at Fashion Declares, a tutor on the Business Sustainability Management course at the Cambridge Institute for Sustainable leadership, and a trustee at environmental behavior change charity Hubbub.
The Advisory Board provides advice and input to support Aquapak’s management team as they embark on an exciting phase of global growth and innovation. This includes identifying multiple applications for its Hydropol™ polymer technology. Developed and manufactured in the United Kingdom, Hydropol is soluble, non-toxic and marine safe. Products made with Hydropol are safe for existing recycling processes and are fully biodegradable, leaving no trace or harmful microplastics should they enter the environment.
Commenting on Luffman’s appointment, Mark Lapping, CEO, Aquapak, said: “Debbie’s experience in the fashion and textiles sector is highly relevant to us as it is an important strategic market opportunity for Hydropol technology. Several brands have already introduced our Hydropol garment bags in place of conventional single-use plastic as part of their commitment to sustainability and the circular economy. We look forward to working closely with Debbie to grow our market share.”
Debbie Luffman
“I work with many different businesses who are committed to the circular economy. Moving to sustainable packaging with better end of life options is a big part of meeting this challenge, so I am delighted to be joining Aquapak’s advisory board and helping develop and promote its ground-breaking Hydropol technology,” Luffman said.
To help reduce plastic packaging pollution Aquapak has developed Hydropol, a unique new polymer which is soluble and non-toxic to marine life. Hydropol can be used as an alternative to conventional plastic in a wide variety of applications as it provides the same functionality and performance but without the associated environmental problems. It is currently used to make products such as garment bags, offering all the necessary features of traditional polybags: strength and puncture resistance; clarity of film; and protection from leakages and dirt.
Crucially, Hydropol garment bags present zero end-of-life issues for consumers and brands. They can be disposed of in existing domestic waste streams without contaminating other recyclable products or they can be dissolved immediately in hot water at home without producing harmful micro-plastics. They are also compostable and degrade harmlessly on land or in the ocean.
LENZING, Austria — August 7, 2024 — The Lenzing Group, a supplier of regenerated cellulose fibers for the textile and nonwovens industries, reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.
Revenue grew by 4.8 percent year-on-year to 1.31 billion euros ($1.21 billion) in the first half of 2024, primarily thanks to higher revenue from fibers (up 9.3 percent).
The trend in the operating result primarily reflects the positive effects of the comprehensive performance program. Earnings before interest, tax, depreciation and amortization (EBITDA) rose by 20.4 percent from 136.5 million euros ($150.1 million) in the first half of 2023 to 164.4 million euros ($180.7 million) in the same period of 2024. The EBITDA margin increased from 10.9 to 12.5 percent.
The operating result (EBIT) amounted to 18.9 million euros ($20.8 million) (compared with -12 million euros (-$13.2 million) in the first half of 2023) and the EBIT margin stood at 1.4 percent (compared with -1 percent in the previous year). Earnings before tax (EBT) amounted to minus 22.3 million euros ($24.5 million) (compared with -76.1 million euros (-$83.7 million) in the prior-year period).
Earnings per share stood at minus 1.84 euros ($2.02) (compared with -3.92 (-$4.31)in the first half of 2023). Cash flow from operating activities amounted to 202.8 million euros ($223 million) in the first half of the year (compared with -29.2 million euros (-$25.2 million) in the same period of 2023). Free cash flow shows a clearly positive trend with an increase to 141.5 million ($155.6 million) (compared with -165.4 million euros (-$181.8 in the first half of 2023).
Lenzing CEO Stephan Sielaff
“The Lenzing Group’s business performance continues to point in the right direction, even without a significant recovery in the relevant markets,” commented Stephan Sielaff, Lenzing Group CEO. “We are continuing to place pressure on expenditure within the organization, and at the same time we are focusing on measures to strengthen our global sales activities. We are taking action on a consistent and proactive basis, and we are making the Lenzing Group not only more profitable but also more resilient in the medium term.”
Since the end of 2022, the Lenzing Group has been implementing measures to reduce costs and, building on this, has developed a comprehensive performance program with the overriding objective of significantly enhanced long-term resilience to crises and greater agility in the face of market changes. Nico Reiner, Lenzing Group CFO, noted: “The performance initiatives are showing visible results and are primarily aimed at improving EBITDA and generating free cash flow through stronger revenue and margin growth as well as sustainable cost excellence. We expect an excess amount of EUR 100 million, of which more than 50 percent will be effective from this financial year. The performance program is currently ahead of schedule.”
Capital expenditure on intangible assets, property, plant and equipment, and on biological assets (CAPEX) amounted to 61.6 million euros ($67.7 million) in the first half of 2024 (compared with 136.5 million euros ($150.1 million in the first half of 2023), which is partly due to reduced investment activities. Compared to December 31, 2023, cash and cash equivalents increased by 13.0 percent, from 731 million euros ($803.7 million) as of December 31, 2023, to 825.9 million euros ($908 million) as of June 30, 2024.
Changes to dividend policy, ownership structure and Managing Board
On April 11, the Lenzing Group Managing Board passed a resolution to indefinitely suspend the existing dividend policy of at least 4.50 euros per share ($4.95).
B&C Group and Suzano S.A. announced on June 12 that they are entering a long-term partnership in relation to B&C’s majority interest in Lenzing AG. On the basis of this agreement, Suzano is acquiring a 15 percent interest in Lenzing from B&C.
Also, Lenzing recently announced personnel changes on its Managing Board. The Supervisory Board of Lenzing AG has appointed Walter Bickel as member of the Managing Board and Chief Transformation Officer of Lenzing AG until December 31, 2025, with effect as of April 15, 2024. Stephan Sielaff, Lenzing AG CEO, will leave the company, at the latest, when his contract expires at the end of March 2025, in order to devote himself to new tasks. The Lenzing Group Supervisory Board has appointed Rohit Aggarwal as a new member of the Managing Board of the Lenzing Group. He will take over responsibility for the fibers business area in the course of the third quarter and will succeed Stephan Sielaff as CEO of the Lenzing Group after his Onboarding. Aggarwal, a graduate in business administration, possesses decades of professional experience in leading positions in markets relevant to Lenzing and is consequently fully familiar with Lenzing’s core business in all its content- related and geographical facets.
Outlook
The IMF left its growth forecast for 2024 unchanged at 3.2 percent and raised it to 3.3 percent for 2025. Nevertheless, a number of risks for the global economy remain.
Forecasting future economic growth is rendered more difficult by smoldering global conflicts, trade disputes, and the uncertain outcome of elections, including the USA and the EU.
Consumers are holding back on unnecessary purchases in an environment of rising prices, falling real wages in some cases, and concerns about economic growth. This is hampering a revival of the consumer apparel market, which is important for Lenzing.
The currency environment is expected to remain volatile in the regions relevant to Lenzing.
In the trend-setting market for cotton, a reduction in stock levels and a stable price trend at a low level is expected for the remainder of the 2023-24 harvest season.
Earnings visibility remains limited overall
Revenue and earnings in the first half of the year exceeded Lenzing’s expectations, despite the persistently difficult market. Lenzing is ahead of schedule with the implementation of its performance program. The company expects that the measures will make a greater contribution to further improving earnings in the coming quarters.
Taking the aforementioned factors into consideration, the Lenzing Group confirms its guidance for the 2024 financial year of year-on-year higher EBITDA.
Structurally, Lenzing continues to anticipate growth in demand for environmentally responsible fibers for the textile and clothing industry as well as for the hygiene and medical sectors. As a consequence, Lenzing is very well positioned with its strategy and is pushing both profitable growth with specialty fibers and the further expansion of its market leadership in the sustainability area.
WILMINGTON, Del. — August 6, 2024 — The LYCRA Co., a global developer of innovative and sustainable fiber and technology solutions for the apparel and personal care industries, has announced that the Science Based Targets initiative (SBTi) has approved its near-term science-based emissions reduction targets.
The LYCRA Company has announced that the Science Based Targets initiative (SBTi) has approved its near-term science-based emissions reduction targets. Photo – Business Wire
The SBTi has validated that the company’s Scope 1 and 2 greenhouse gas (GHG) target ambitions align with a 1.5-degree Celsius trajectory, as recommended by the Paris Agreement. The LYCRA Company has committed to reduce absolute Scope 1 and 2 GHG emissions by 50 percent by 2030 from a 2021 base year. In addition, the company will reduce absolute Scope 3 GHG emissions from purchased goods and services by 25 percent within the same timeframe.
“This has been a two-year effort to identify and select the best options for our business and create a road map for carbon reduction,” said Robert Johnston, executive vice president of operations at The LYCRA Co. “That plan includes changes to our processes, products, and key ingredients, as well as securing buy-in from internal and external stakeholders.”
To reduce Scope 1 emissions, The LYCRA Co. is moving to lower-impact energy sources at its production sites. Work is already underway to convert its Maydown, Northern Ireland, site to cleaner fuel sources, with project completion anticipated by the first quarter of 2025.
By converting purchased electricity to renewable sources through Energy Attribute Certificates, The LYCRA Company is also reducing its Scope 2 emissions. This has been completed at production sites in Foshan, China, and Maydown, Northern Ireland. Two additional sites are being converted over the next two years.
The LYCRA Co. also works with ingredient suppliers to convert to lower-impact inputs to reduce its Scope 3 emissions. An example is the company’s collaboration with Qore® to use its brand QIRA® to develop and commercialize bio-derived LYCRA® fiber at scale. Over the next several years, nearly 30 percent of the company’s current spandex capacity will be converted to bio-derived LYCRA fiber.
“We are committed to making positive change in our industry and have set ambitious emission targets because we believe it’s essential for business success, but more importantly, it’s the right thing to do,” said Gary Smith, The LYCRA Co.’s CEO. “By making these changes, we can help reduce not only our emissions but those of our customers as well.”
BALTIMORE, Md. — August 6, 2024 — Under Armour Inc. announced that Eric Liedtke will join the company as executive vice president of Brand Strategy following the completion of its acquisition of UNLESS COLLECTIVE Inc. (UNLESS), a zero-plastic regenerative fashion brand. The transaction is expected to be completed later this week.
Eric Liedtke, Under Armour Executive Vice President, Brand Strategy
After a 26-year career at adidas Group (adidas), culminating in his roles as brand president and executive board member from 2014 to 2019, Liedtke and industry executives from adidas, Quicksilver, and R/GA set out in 2020 to found UNLESS and pioneer a better way for the industry to prove that plants could replace plastics in the creation of apparel and footwear.
Liedtke will serve as executive vice president of Brand Strategy and be globally accountable for amplifying Under Armour’s brand identity and storytelling, its comprehensive strategic planning process, and executing transformational initiatives that accelerate growth for UA while continuing to lead and curate, UNLESS. He will report to President and CEO Kevin Plank and oversee UA’s brand presence through category marketing, consumer intelligence, creative, marketing operations, loyalty, social media, sports marketing, and all strategy functions.
“We are thrilled to welcome Eric and the UNLESS team to Under Armour. With Eric’s best-in-class history of driving exceptional growth in the branded sports industry and an established reputation as an exceptional leader, his experience will be a tremendous asset in galvanizing Under Armour’s brand strategy, refining our operating model, and ensuring that every facet of consumer engagement is moving our brand forward,” Plank said. “Complementing our strengthened leadership team – Eric is a rare multi-disciplinary professional whose track record of consumer-centric growth will help drive our company’s evolution during this unique time. I look forward to working with Eric in this important new role.”
“Sports, inspiration, and culture bring people together, and I am honored by the opportunity to contribute to Under Armour’s long legacy as an iconic brand that connects across these dimensions,” said Under Armour Executive Vice President of Brand Strategy Liedtke. “I see tremendous opportunity to elevate the brand, enable deeper loyalty, and drive growth among new and existing consumers. I am excited to work with a visionary founder in Kevin and the executive leadership team to redefine and amplify the UA story and deliver an improved trajectory of growth over the long term.”
Eric Liedtke
Before co-founding and becoming CEO of UNLESS in 2020, Liedtke built a storied career at adidas, including senior positions in footwear marketing and executive roles as vice president of Brand Marketing, senior vice president of Sports Performance Brand Marketing and head of Sports Performance, finishing as brand president and executive board member. While brand president, he is credited with orchestrating one of the most significant turnarounds in the company’s history through the creation and implementation of a five-year strategic plan that delivered more than $8 billion of revenue growth. His strategic and cultural leadership enabled adidas to break new ground in material, innovation, sustainability, and streetwear, creating conditions for consistent growth and largely responsible for the launches of the Boost footwear platform, Yeezy collaboration, and Parley line of sustainability-driven products, which were built from recycled ocean plastics. Liedtke holds a Bachelor of Arts degree from the University of Wisconsin-Madison and is an avid surfer, outdoorsman, and fitness addict.
LUDWIGSHAFEN, Germany — August 8, 2024 — BASF gives a clear sign towards biotransformation of their (Meth)Acrylate portfolio and switches their production to bio-based Ethyl Acrylate (EA) starting Q4 2024. With a 14C-traceable bio content of 40 percent according to DIN EN 16640 and a low Product Carbon Footprint (PCF1), bio-based EA from BASF helps customers worldwide to reach their sustainability goals. The product offers a PCF reduction of approximately 30 percent compared to fossil-based EA. Additionally to regular bio-based EA, BASF also offers bio-based Ethyl Acrylate BMB ISCC Plus.
