The Hackett Group® 2025 Working Capital Survey: Textiles, Apparel And Footwear Saw Cash Conversion Cycle (CCC) Improvement

MIAMI — August 18, 2025 — The Hackett Group, Inc. , a  generative artificial intelligence (Gen AI) consultancy and executive advisory firm, today released findings from its 2025 U.S. Working Capital Survey, revealing a 4% improvement in the cash conversion cycle (CCC) – now at 37 days – after a turbulent year of across-the-board deterioration. The rebound was fueled primarily by a 3% improvement in days payable outstanding (DPO), highlighting renewed opportunities to unlock liquidity amid ongoing uncertainty.

The research, based on an analysis of the top 1,000 U.S. publicly traded nonfinancial companies, found that $1.7 trillion remains trapped in excess working capital – this represents 35% of gross working capital and 11% of aggregate revenue. While DPO rebounded to 59 days, both days sales outstanding (DSO) and days inventory outstanding (DIO) worsened slightly, reflecting macroeconomic volatility, cautious inventory strategies, and shifting customer dynamics.

“Amid high interest rates and growing tariff risks, the working capital opportunity is more strategic than ever,” said István Bodó, senior director, Transformation Finance at The Hackett Group®. “Top-performing companies are proving that optimizing payables, receivables and inventory is not just a cost play – it’s a critical lever for improving liquidity and investing in growth. With Gen AI, we now have enhanced tools to tackle working capital inefficiencies in smarter, more scalable ways.”

Despite the overall CCC improvement, the gap between top-quartile and median performers widened – particularly in DPO, where a 9% performance delta indicates that many companies continue to struggle with payables optimization. DSO saw its second straight year of degradation, as customer bargaining power drove extended payment terms. Accounts receivable now accounts for the largest share of excess working capital – an opportunity valued at $600 billion – driven by an 18-day DSO gap between top and median performers.

Several industries demonstrated notable gains:

  • Semiconductors and equipment improved CCC by 6%, supported by an 18% increase in DPO.
  • Textiles, apparel and footwear saw a 10% CCC improvement, led by a 22% increase in DPO.
  • Utilities achieved a 34% CCC improvement, driven by a 13% increase in DPO.

Conversely, the computer hardware and peripherals sector experienced a 182% decline in CCC due to overproduction and inventory buildup driven by AI-fueled demand and trade policy uncertainty.

The report also highlights how Gen AI can enhance working capital performance across key areas – from autonomous inventory management to predictive collections and supplier risk mitigation. Other practical Gen AI use cases outlined in the report can help companies streamline processes, improve forecasting and accelerate cash flow.

“Finance leaders ranked working capital optimization as their top priority for the year in our 2025 Finance Key Issues Study – a significant shift from years past,” said Vince Griffin, principal, Finance Advisory practice leader at The Hackett Group®. “But sustained improvement requires a combination of process and operating model changes, skill development, and technology modernization to improve insight into working capital drivers and unlock the excess working capital opportunity. Gen AI is emerging as a valuable tool for strengthening discipline around working capital – provided it is deployed properly and viewed as part of a broader strategy rather than a quick fix.”

Additional insights from the report:

  • Aggregate revenue rose 4% in 2024, driven by innovation-led sectors like semiconductors (+28%) and internet software and services (+14%).
  • Earnings before interest, taxes, depreciation and amortization margin climbed to 19% (+6%), as a result of cost optimization efforts.
  • Operating cash flow as a percentage of revenue improved to 16%, aided by lower cost of goods sold and better working capital practices.
  • Capital expenditures increased 5%, as companies invested in AI infrastructure and supply chain resilience.

Download the full results and insights from the 2025 U.S. Working Capital Survey for free with registration.

Posted: August 18, 2025

Source: The Hackett Group, Inc.

LILYSILK Launches First-Ever Activewear Line With Innovative SILKERRY™ Fabric

NEW YORK — August 18, 2025 — LILYSILK, the silk brand dedicated to inspiring people to live spectacular, sustainable lives, has unveiled the SILKERRY™ Collection, its first activewear line crafted from the brand’s proprietary silk-enhanced terry fabric. Designed to unite luxury with ease, SILKERRY™ combines the breathable plushness of cotton terry with the naturally cooling, skin-friendly qualities of high-content natural silk. The launch marks LILYSILK’s entry into the modern activewear category, offering pieces that transition effortlessly from yoga studios to urban streets.

LILYSILK Launches First-Ever Activewear Line: SILKERRY™

SILKERRY™ redefines terry fabric by weaving natural silk fibers directly into the cotton terry interior, creating an ultra-smooth surface that glides over skin, reduces friction, and helps maintain freshness through silk’s natural antimicrobial properties. Its high thermal conductivity draws heat away for instant cooling, while moisture-wicking capabilities keep the wearer comfortable during movement. The outer layer of natural cotton terry provides structure, breathability, and durability, ensuring each piece retains its shape and softness through repeated wear and washing.

The creation of SILKERRY™ is rooted in LILYSILK’s 15 years of consumer research, which identified a shift in modern lifestyles. Activewear has evolved beyond gym use into an everyday wardrobe staple, with consumers seeking garments that combine functional versatility with refined aesthetics. LILYSILK’s response is a collection that meets this demand, offering a seamless balance of elegance and versatility.

“Activewear isn’t just for the gym anymore. As fitness, work, and life blend seamlessly, people expect apparel that delivers both style and elegance,” said David Wang, CEO of LILYSILK. “SILKERRY™ brings the luxury of silk into movement apparel, creating pieces that move effortlessly from yoga mats to city streets.”

The debut SILKERRY™ Collection introduces three distinct style lines, each with its own concept and signature piece, and all available in four versatile colorways—Black, Heather, Espresso, and Blush Pink. Seamflow, inspired by the rhythm and structure of city life, blends polished design with easy movement, highlighted by the hip-length, oversized Seamflow Verge Hoodie with practical pockets and a smooth zip closure. Porchlight captures the warmth and ease of everyday living, offering relaxed yet refined silhouettes such as the soft-waistband Porchlight Lounge Shorts, ideal from home to café. Heirloom ’89 pays tribute to timeless classics with a touch of vintage sport, anchored by the roomy yet refined Heirloom ’89 Zip Jacket, designed for comfort, confidence, and lasting style.

Discover the SILKERRY™ Collection and more at www.lilysilk.com.

Posted: August 18, 2025

Source: LILYSILK

The National Cotton Council (NCC) And The National Cotton Ginners Association (NCGA) Statement On EPA Action On DEF Systems

MEMPHIS, Tenn. — August 13, 2025 — The National Cotton Council (NCC) and the National Cotton Ginners Association (NCGA) welcome the U.S. Environmental Protection Agency’s (EPA) new guidance regarding Diesel Exhaust Fluid (DEF) systems, as announced by Administrator Lee Zeldin.

“We appreciate the EPA and the entire administration for addressing the issues of and providing support to small businesses and farmers,” said NCC Chairman Patrick Johnson.

“This common-sense fix for DEF systems means more productivity in the field and less worry about unexpected breakdowns. The actions taken by EPA to protect diesel equipment operators from sudden speed and power losses caused by DEF systems will certainly benefit the cotton industry.”

This guidance aligns with the NCC’s long-standing advocacy for practical solutions that support both environmental stewardship and the economic viability of U.S. agriculture. 

Posted: August 14, 2025

Source: The National Cotton Council (NCC)

Oerlikon Textile Inc.: Crimper Repair Workshop Begins Operations

CHARLOTTE,, N.C. — August 14, 2025 — Since the beginning of the year, Oerlikon Textile Inc. has been offering a crimper repair service, making it the company’s first location worldwide to do so. The workshop in Charlotte specializes primarily in Fleissner and Neumag crimpers.

Crimping is one of the most important and demanding steps in the staple fiber process. As such, the condition of the relevant components has an impact on product quality.

Crimping is one of the most important and demanding steps in the staple fiber process. A uniform and stable crimp is crucial for optimum product quality. This makes it even more important to keep the essential components in good condition and repair them promptly to prevent production downtime.

Competence Center Established

In addition to the right equipment, this precise work also requires appropriate specialist personnel. Oerlikon Textile Inc. has built up a competent team at its Charlotte site, which offers a complete overhaul including pressure roller and chamber repairs, as well as checking the pneumatic, hydraulic, and electrical systems. Each crimper is delivered pre-set and undergoes a thorough test run. These services are, of course, also covered by a warranty. “With this new service, we can work closely with our customers and guarantee the best service with OEM standards and short response times,” says Daniel Möller-Langmaack, Team Leader Service Sales Staple Fiber at Oerlikon Neumag. “This repair center is another important step in helping our customers to be successful and profitable in their business,” adds Tilmann Seidel, Vice President and Head of Customer Services at Oerlikon Neumag.

Posted: August 14, 2025

Source: Barmag – Oerlikon Barmag, Oerlikon Neumag and Oerlikon Nonwoven

INDA Provided Nonwovens Education At The 2025 NCSL Legislative Summit

CARY, N.C. — August 14, 2025 — INDA, the Association of the Nonwoven Fabrics Industry, recently attended the 2025 NCSL Legislative Summit hosted in Boston, Massachusetts. Wes Fisher, Director of Government Affairs, and Kevin Conroy, Senior Manager of Government Affairs, connected with hundreds of state legislators, their staff, international delegates, and many who visited INDA’s booth amongst the thousands of attendees.

Attendees were eager to learn more about flushability, the California Collection Study, the ins and outs of the nonwovens industry, the federal WIPPES Act, and state legislation on wipes. Wes and Kevin provided hands-on demonstrations and educational discussions to help policymakers understand how nonwoven products are made, used, and regulated — and the importance of accurate wipes labeling for consumers and the environment. This year marked the second time in recent years that INDA has exhibited at the event.

“Having a booth at the 2025 NCSL Legislative Summit allowed us to engage directly with state legislators, policy stakeholders, and many of the thousands of attendees on wipes labeling, the WIPPES Act, and other key issues shaping the nonwovens industry today,” said Wes Fisher. “The meaningful conversations and hands-on product demonstrations showcased the essential role nonwoven fabrics play in everyday life, from consumer households to critical industrial applications.”

The annual NCSL Legislative Summit hosts one of the nation’s largest and most influential gatherings of state legislators, staff, corporations, government agencies, and trade associations. State and national media publications cover the event, disseminating news and stories across the country.

Posted: August 14, 2025

Source: INDA, the Association of the Nonwoven Fabrics Industry

Surge Private Equity Closes Investment Into White Plains Linen

DALLAS — August 13, 2025 — On August 1st, 2025 Surge Private Equity LLC (“Surge”) closed on its investment into White Plains Linen (“WPL”), a leading provider of commercial laundry services based in Peekskill, New York. The transaction, valued over $50MM, closed with debt financing provided by Capital Southwest Corporation. Jackson Walker LLP acted as lead counsel to Surge, and Moss Adams/Baker Tilly provided financial diligence for the transaction. IMG Business Advisors acted as lead advisor for the deal.

Founded in 1938, WPL has built a strong reputation serving the New York metropolitan area’s hospitality industry, including restaurants and hotels. The company provides a full range of textile rental and laundry services known for their reliability, high-touch customer services, and ability to meet the needs of premium clients with tight turnaround times. The company boasts an 86% rate of recurring revenue, reflecting the long-standing relationships and ongoing demand from its customer base.

“We are excited to partner with a company as established and respected as White Plains Linen,” said Lewis Sharp, Partner at Surge. “Their reputation for quality and customer loyalty aligns well with our investment strategy, and we look forward to supporting their continued growth.” Bruce Botchman, the seller, added, “With eight years of active involvement in the NYC commercial services space, Surge has developed a network of skilled operators and will help White Plains provide better services to its customers.”

This marks Surge’s fifteenth platform investment and sixth acquisition within the broader New York City commercial services industry.

Posted: August 13, 2025

Source: Surge Private Equity

Eastman And Huafon Chemical To Establish Local Cellulose Acetate Yarn Manufacturing Facility In China

KINGSPORT, Tenn. — August 13, 2025 — Eastman today announced a formal strategic partnership with Huafon Chemical to establish a joint facility to produce cellulose acetate yarn. The facility will be dedicated to localized production and product innovation of Eastman Naia™ cellulose acetate filament yarns in China.

“China is the world’s largest textile supply chain hub and a frontier for product and technology innovation,” said Ruth Farrell, general manager of Eastman’s Textiles business. “This strategic partnership will provide us with greater capacity and further enhance the innovation and product development capabilities of Naia™ yarn while enabling Eastman to fulfill its brand promise of making sustainable textiles accessible to all.”

This collaboration demonstrates Eastman’s long-term commitment to the Chinese market and further deepens its market presence in China by enabling a more agile supply chain response to meet the market demand for high-quality, innovative, and sustainable textile materials in the region.

“Through cooperation with Eastman, we look forward to combining local advantages with international resources to achieve a fully localized chain from technological innovation, product development, production to service, and jointly promoting the sustainable development of the textiles industry,” said Congdeng Yang, director for Huafon-Eastman collaboration program.

Posted: August 13, 2025

Source: Eastman

AATCC Welcomes New Student Chapters

DURHAM, N.C. — August 5, 2025 — AATCC is proud to announce the formation of two new Student Chapters: Iowa State University and Utah State University “Aggie Threads.”

AATCC Student Chapters are formally recognized student organizations that receive funding, support, and enhanced networking opportunities through their involvement in the Association. AATCC is excited to support these new partnerships and continue providing students with quality educational and career support.

Iowa State University — Ames, IA, USA

Iowa State University (ISU) is a land-grant university that provides a wide array of textile education through fashion design and merchandising programming, along with a material science program. The ISU Student Chapter is led by Faculty Advisor Rachel Eike, an associate professor in the Department of Apparel, Events, and Hospitality Management.

Founding Chair Michelle Beaudet shared, “Our members are eager to participate in the various opportunities AATCC offers, such as networking, professional development, and learning about the latest advancements in the textile industry… We are confident that establishing this chapter will enhance our academic experience and contribute to the broader mission of AATCC by fostering the next generation of textile professionals.”

ISU AATCC Student Chapter Founding Officers:

  • Chair: Michelle Beaudet
  • Vice Chair: Megan Squier
  • Secretary: Katherine Fjellman
  • Treasurer: Macy Niichel
  • Materials Manager: Kaitlyn Buenzow

Utah State University “Aggie Threads” — Logan, UT, USA

Utah State University (USU) is a land grant university offering performance textile and fashion programs through their Outdoor Product Design and Family and Consumer Science programs. The AATCC Student Chapter at USU, called Aggie Threads, is overseen by Faculty Advisor Melissa Clark, who teaches courses on apparel design, fit, and construction.

Founding President Emily Ellsworth shared, “I think that students will recognize this as a unique opportunity to network in ways that have not been available before. As a group, we plan to provide opportunities for students to learn about new and emerging textiles through field trips, offering networking opportunities like attending the AATCC conference, and providing a community for students to come together and collaborate.”

Aggie Threads Founding Officers:

  • President (Chair): Emily Ellsworth
  • Vice President (Vice Chair): Adilyn Atkins
  • Treasurer: Eliza Bonzo: Secretary/Social Media Specialist: Lucy Herbert, Instagram handle: @aatcc_aggiethreads

Posted: August 13, 2025

Source: The American Association of Textile Chemists and Colorists (AATCC)

AATCC Broadens Community With Corporate Membership News

DURHAM, N.C. — August 5, 2025 — The American Association of Textile Chemists and Colorists (AATCC) is making new updates and expansions to Corporate Membership offerings. AATCC has been proud to provide exclusive benefits to Corporate Members for over one hundred years. Corporate Membership Levels includes a wide range of educational, marketing, and discount benefits to support the business needs of hundreds of textiles and chemical companies across the globe. In May 2025, the AATCC Board of Directors approved updates to multiple Corporate Membership Levels aimed at improving access to benefits during a dynamic time in the textile industry.

AATCC is excited to announce that Gold Level Corporate Members can now designate two locations for their membership. Additionally, the Gold Level now offers an additional Individual Complimentary Member; with this change five Individual Complimentary Memberships and a Complimentary Young Professional Membership are available. Employees at both locations can enjoy member discounts on AATCC products, event registrations, and online programs.

After discussing with industry partners, AATCC will be closing the Diamond Level at the end of the existing membership terms for current members. AATCC is very grateful for the continued support of long-term Diamond Member Cotton Incorporated. The Association is happy to announce that many of the benefits traditionally included in the Diamond Level will now be part of the expanded Platinum Level, continuing to help our corporate partners reach their business goals at a more accessible price. The Platinum Level now includes ten Individual Complimentary Memberships and two Young Professional Memberships, which can be shared across up to six designated locations. Employees at all six locations can enjoy member discounts on AATCC products, event registrations, and online programs.

AATCC cherishes many partnerships across the globe and has previously offered Student and Individual Developing Nations (DN) discounted Memberships to those who reside in nations with emerging economies. To better support these members, AATCC is proud to announce the introduction of Developing Nations Silver DN Level & Gold DN Level Corporate Memberships. These memberships feature virtual offerings at 20% less than standard pricing. The Association hopes that these new membership offerings will deepen our relationships with our members internationally and create new opportunities for collaboration for the betterment of the global textile industry.

New and current Gold and Platinum Members can take advantage of these new benefits right away! If your company is an existing member that wishes to upgrade your membership level, you are eligible to do so at time of renewal.

For a pdf on Corporate Membership Details:

https://www.aatcc.org/wp-content/uploads/2025/06/Corporate-Member-Benefits-Grid-Standard-Levels-1.pdf

For a pdf on Corporate Membership Benefits:

https://www.aatcc.org/wp-content/uploads/2025/06/Corporate-Member-Benefits-Grid-DN-Levels.pdf

Posted: August 13, 2025

Source: The American Association of Textile Chemists and Colorists (AATCC)

Gildan And HanesBrands Agree To Combine To Create A Global Basic Apparel Leader

MONTRÉAL And WINSTON-SALEM, N.C. — August 13, 2025 — Gildan Activewear Inc. (“Gildan”) and HanesBrands Inc. (“HanesBrands”) today announced that they have entered into a definitive merger agreement under which Gildan will acquire HanesBrands. This transaction implies an equity value of approximately $2.2 billion and an enterprise value2 of approximately $4.4 billion for HanesBrands, based on the closing price of Gildan common stock on August 11, 2025.

“Today is a historic moment in Gildan’s journey as we look to join forces with HanesBrands. We are extremely pleased to welcome the HanesBrands’ team to the Gildan family,” commented Glenn J. Chamandy, President and Chief Executive Officer of Gildan. “With this transaction, our revenues will double and we achieve a scale that distinctly sets us apart. The combination with HanesBrands strengthens our positioning with an opportunity to expand the heritage “Hanes” brand presence in activewear across channels, while enhancing Gildan’s retail reach for its portfolio of brands. Further, our state of the art low-cost vertically integrated platform will be utilized to enhance efficiencies and drive additional innovation. We are excited for the next stage of growth and remain focused on supporting our customers and continuing to drive long term shareholder value.”

“This transaction represents a powerful alignment of HanesBrands’ and Gildan’s shared commitment to quality, innovation, and excellence. We have great respect for Gildan’s manufacturing strength and long track record of success. We look forward to expanding upon HanesBrands’ portfolio of leading innerwear brands and go-to-market expertise and opening new doors for growth and impact as part of Gildan,” said Steve Bratspies, CEO of HanesBrands. “I want to extend my deepest gratitude to our associates around the world. Your dedication, hard work, and resilience have built HanesBrands into an iconic and trusted name. Today marks the beginning of an exciting journey ahead as part of Gildan and I’m particularly pleased that Gildan intends to maintain HanesBrands’ strong presence in Winston-Salem.”

“This transaction represents a pivotal moment in Gildan’s story,” said Michael Kneeland, Chair of the Board of Directors of Gildan. “Hanes is a distinguished brand with a proud legacy, and by joining forces with HanesBrands, we are forging an exceptional organization built on the strengths of both companies. Leveraging best practices and the exceptional teams from each side, we are poised to deliver outstanding value to our customers and shareholders. With the finest talent in the industry, we have an extraordinary opportunity ahead to shape the future together.”

Posted: August 13, 2025

Source: Gildan Activewear Inc.

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