KARL MAYER GROUP: Showing What Pioneering Technologies For Warp Knitting Look Like At A Product Show During ITMA ASIA

OBERTSHAUSEN, Germany — November 6, 2023 — High-tech solutions can be used to build up an advantage over competitors, especially in times of economic downturn. The KARL MAYER GROUP will be showing what pioneering technologies for warp knitting look like at a product show during ITMA ASIA, + CITME November 19-23, 2023, at its site in Changzhou City.

The machines of the performance presentations are as diverse as the visitors they are intended to address, but they all have one goal: to offer answers to the challenges of our time. The innovations are primarily concerned with sustainability, new business fields, flexibility and productivity.

“In the field of tricot machines, our complete product range demonstrates strength. In Changzhou City, we are launching two performance-optimized mid-range machines at once. In addition, we are presenting established products with performance focuses that should be extremely interesting for our guests,” said Kay Hilbert. The Product Owner Global Tricot Machines at KARL MAYER and his team are expecting guests from China, Turkey and India in particular.

The most flexible and fastest four-bar TM machine on the market

In the four-bar machine segment, a new TM 4 EL replaces the previous mid-range alternative to the HKS 4-M ON for the premium segment. This newcomer has been equipped with KARL MAYER’s CFRP technology and is therefore up to 30% faster than its predecessor. In addition, the product portfolio is right. The TM 4 EL produces a large proportion of all common articles – from elastic to non-elastic – and, thanks to EL pattern drives, offers maximum flexibility for a wide range of applications. The product range includes fabrics for upholstery, sportswear, footwear, the interior of automobiles and homes, and apparel. In particular, chic seersucker articles are bringing the machine with the excellent price-performance ratio into the focus of trend-conscious fashion manufacturers. A TM 4 EL, 210″, in E 28 will be on show at the Product Show at KARL MAYER (CHINA).

HKS 3-M ON

Three-bar HKS with new energy feature for the cost and environmentally conscious

The three-bar tricot machine show includes an HKS 3-M ON, 300″ with an energy saving feature that already caused a stir at ITMA 2023 in Milan. With the new Energy Data Ready option, the power consumption of the tricot machines can be determined and monitored. The ENERGY MONITORING SYSTEM software, which is scheduled to go into series production early next year, uses the potential offered by real-time energy data to optimize energy management. Benefits for customers include unique transparency on energy consumption, carbon footprint and costs. Cost calculations and the identification of consumption can also be used to optimize the energy efficiency of production. A prototype of the solution will be presented at KARL MAYER (CHINA) in November.

TM 2-NET

Highspeed machine for net articles

The range of two-bar tricot machines has been extended by the new TM 2-NET. This highly productive, economical machine focuses on demanding net applications and is around 20% faster than the latest generation TM 2 counterpart. Especially when comparing the output of fine tulle articles, the newcomer also performs significantly better than equivalent machines on the market. Other benefits include top product quality and extremely stable machine operation.

HKS 2 SE

Two-bar HKS with bestseller qualities

Not a premiere machine but a bestseller is the HKS 2-SE, which will also be presented in Changzhou City. The special machine for the production of elastic fabrics has been ordered this year, particularly in China, for the production of supple, lightweight articles for sun-protective clothing. The goods impress with their high quality and can be produced extremely efficiently. A speed of 4,400 min-1 makes the HKS 2-SE the machine of choice when it comes to producing high-quality apparel, sportswear and lingerie articles. At KARL MAYR (CHINA), an HKS 2-SE, 134″ in E 40 will be on display. The high gauge is in particular demand in the Chinese market, but in combination with the high machine performance it is only offered by KARL MAYER.

Digital game changer solutions for production management

Other highlights of the Prodct Show will come from the field of digital solutions. KM.ON, the KARL MAYER GROUP’s digital company, will be presenting Digital Production Management (DPM) and CORE.

DPM provides visibility into production using the power of the Internet of Things (IdD) and advanced analytics. Production managers receive production-specific key figures in real time. Insights into factory operations can be used to identify patterns – such as the occurrence of repetitive machine operation errors – optimally allocate resources, and make data-driven decisions to increase efficiency. Real-time monitoring and analytics go hand-in-hand with DPM’s potential to manage operations. From creating items and work orders to simplifying production scheduling, DPM centralizes and optimizes every aspect of the production process.

CORE is a web-based design tool. It includes a versatile lapping editor for tricot machines and ensures direct and secure transfer of pattern data to the machine, which is networked to KM.ON’s secure cloud, from anywhere and at any time. In this way, CORE helps to shorten time-to-market.

Next-level support solutions with easy access

In addition to high-tech machines, KARL MAYER offers its customers “best in class” after-sales support with professional spare parts supply, expert knowledge, and a selection of online service offerings. The new customer portal myKM.ON provides easy access to the individual solutions, including a machine dashboard, an overview of all spare parts orders from the last 30 days, and access to the tried-and-tested WEBSHOP SPARE PARTS, to the services offered by the KARL MAYER Academy, and to my TEXTILE NEWS – a specialist portal for the industry. In addition, a new ticket system ensures maximum transparency and efficiency for service inquiries. During the product show, the features of myKM.ON can be tried out and discussed with KARL MAYER’s Care Solutions specialists.

Interested parties are asked to register.

Posted: November 6, 2023

Source: The KARL MAYER GROUP

 

Texworld Los Angeles and Apparel Sourcing Los Angeles 2024 Edition Dates Revealed

LOS ANGELES — November 1, 2023 — Texworld Los Angeles and Apparel Sourcing Los Angeles, the celebrated fashion textile and apparel sourcing platforms, are thrilled to announce the highly anticipated dates for their 2024 edition.

Following the triumphant debut in 2023, Texworld Los Angeles and Apparel Sourcing Los Angeles are gearing up for another impactful event.

The collocated sourcing event will return to the California Market Center (CMC), taking place on August 13-14, 2024, offering industry leaders, designers, and buyers an unparalleled opportunity to explore the latest trends, innovative materials, and sustainable practices.

As the fashion industry continuously evolves, Texworld and Apparel Sourcing Los Angeles are committed to providing a platform that keeps pace with these changes. Just like the debut event, the 2024 edition will feature an extensive range of fashion textiles, apparel, accessories, local sourcing resources, and more from countries including Korea, Peru, China, USA, India, Turkey, and more.

Attendees can once again look forward to engaging seminars and panel discussions led by top industry experts, as well as an inspiring F/W 24/25 trend display, curated by NYC-based agency, Doneger | TOBE.

Esteemed show partners, Printsource, Lenzing Fibers, and CCPIT-TEX will also return and provide a unique and enriching dimension to the event in 2024. Their continued involvement reinforces our collective responsibility towards innovation, sustainability and education, and global connection.

The topic of sustainability will also undergo a re-shape at Texworld events as we align our activities with those of the textile trade shows within Messe Frankfurt´s Texpertise Network. Under the new communicative umbrella ´Texpertise Econogy´, Texworld Los Angeles will provide advanced orientation on sustainability for buyers. More information regarding the new initiative to come.

“Texworld Los Angeles and Apparel Sourcing Los Angeles were envisioned to elevate the textile and fashion landscape on the West Coast. We were delighted with the turnout and the positive feedback received from participants. The event’s success underscores the importance of such platforms in fostering innovation, sustainable practices, and global collaborations,” stated Jennifer Bacon, VP of Fashion + Apparel, Messe Frankfurt.

Posted: November 6, 2023

Source: Messe Frankfurt

ITMF Awards 2023 Presented At The ITMF Annual Conference 2023 In Keqiao, China

KEQIAO, China — November 6, 2023 — At the ITMF Annual Conference 2023 which was held from November 4-6, 2023, in Keqiao, China and co-hosted by the China National Textile and Apparel Council (CNTAC) and the Shaoxing Municipal People’s Government, ITMF presented for the second time the ITMF Awards in the categories “Sustainability & Innovation” and “International Cooperation”.

The objective of the ITMF Sustainability & Innovation Award is to recognize sustainable and innovative achievements in the textile industry with focus on innovation, design, development, and production under the strictest standards of sustainability and respect for the environment.

The objective of the ITMF International Cooperation Award is to recognize progress in the area of international collaboration in the textile industry according to the values of the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development. It also illustrates how collaboration efforts across borders and segments create win-win-situations.

An international jury has selected the following winners of the ITMF Awards 2023 (alphabetical order):

ITMF Sustainability & Innovation Award 2023

  • Qingdao Jifa Group (China) Project: Supercritical CO2 Assisted Dyeing of Polyester
  • Qingdao University (China) Project: Marine Bio-Based Fibres
  • Universitat Politechnica de Catalonia (Spain) Project: Upcycling Fibres of Clothing & Textile Waste to Building Materials
  • UPM Biorefining (Germany) Project: The Future of Fabrics with Renewable Materials – How UPM and VAUDE Think Beyond Recycling
  • Winner Medical (China) Project: Biodegradable Nanofiber Masks

ITMF International Cooperation Award 2023

  • Kelheim Fibres (Germany) & Santoni (Italy) Project: Advanced Machine Technology Meets Performance Viscose Fibres
  • Lenzing (Austria) & Södra (Sweden) Project: Enabling the Circular Textile Industry Together
  • Magnolab (Italy) Project: Setting up a Textile Innovation District
  • Satori (Germany) Project: B2B E-commerce – Accelerating International Growth for Fabric Mills
  • Sustainable Terms of Trade Initiative (STAR Network Asia) Project: Improving Purchasing Practices

For more information about the ITMF Awards 2023 go to: www.itmf.org/awards/itmf-awards-2023

Posted: November 6, 2023

Source: International Textile Manufacturers Federation (ITMF)

Jeanologia Transforms Denim Design With The Newest Version Of eDesigner

VALENCIA, Spain — November 6, 2023 — Jeanologia, a Spanish company in the development of eco-efficient technologies, is boosting digitalization in eco-design with a new version of its eDesigner software.

Since its development in 2020, this innovative software for the digital creation of jeans has situated itself as the creative and eco-efficient technological alternative to traditional denim design, shaping the future of garment finishing.

The perfect editor for denim design

The new version of eDesigner offers a more intuitive user interface, as well as tools specific to jean design, providing a unique design experience. Worth highlighting is the “Trace” tool, which uses artificial intelligence to generate hyper-realistic designs from a single image.

It also features the possibility of working with digitized fabrics, thus enhancing hyperrealism with high-definition renders to ensure that the design seen on the screen is what will be obtained in production: “What you see is what you get”

Access to Jeanologia’s know-how

eDesigner also provides designers with a valuable source of inspiration and expertise through its Lightbrary, which gives users access to an extensive gallery of laser designs, vintage designs, wash effects, textures, tear and fray gallery, as well as a “Discover” section with trends and inspirational designs.

Jeanologia thus will share its know-how with designers, who will be able to create things from scratch or build on previous designs as a starting point for new creations.

Digital wash

The new eDesigner takes digitization to the next level, enabling the digital creation of patterns and garments and in doing so, reduces physical samples by 80 percent. This not only means significant savings in terms of resources, but also a substantial reduction in the carbon footprint generated by the transportation of samples.

The user can create digital cufflinks, combining digital patterns (eFit) with digital fabrics (eFabric), and partake in a truly authentic experience, as he or she will be able to analyze the results of wash applications on the fabrics.

All these innovations make it possible to shorten product development times by months, eliminating significant sample quantities and the now-unnecessary costs of shipping them around the world.

The perfect partner for the digitization of the development process

eDesigner acts as a fluid and agile two-way communication channel that connects laser designers with wash developers and brands with manufacturers. In this way, it speeds up the production and marketing of collections.

Once the design is finalized and the collection approved, the tool provides final digital files, which can be sent to production centers around the world to be converted into actual jean production.

As Jeanologia’s Marketing Director, Carmen Silla, explained: “Thanks to this tool we’ll enable infinite iterations at zero cost and impact, while standardizing formats and communication. We’ll improve production processes by making them more efficient and accelerate time-to-market, since we go from design, to sample and approval in a very short time.”

More than simply software, eDesigner is an eco-efficient digital transformation tool, destined to revolutionize the textile industry and contribute to its transformation into a more competitive, productive and sustainable industry.

Posted: November 6, 2023

Source: Jeanologia

Lenzing And Södra Win ITMF Award For Their Pioneering Cooperation In Textile Recycling

LENZING, Austria/VÄXJÖ, Sweden/KEQIAO, China — November 6, 2023 — The Lenzing Group, supplier of specialty fibers for the textile and nonwovens industries, and the Swedish pulp producer Södra have received the ITMF Award 2023 in the category “International Cooperation” for their joint achievements in textile recycling and circular economy. The award was presented at the ITMF Annual Conference in Keqiao, China, on November 6, 2023.

The ITMF Award 2023 is given by the International Textile Manufacturers Federation (ITMF) to recognize outstanding achievements and merits in the textile sector in two categories: ”Sustainability & Innovation“ and ”International Cooperation“. Since 2021, the two pioneers have been joining forces in textile recycling, making a decisive contribution to promoting the circular economy in the fashion industry. As part of the cooperation, the companies intend to share their knowledge with each other and jointly develop processes to enable the wider use of cellulose-based used textiles on a commercial scale.

“We are very proud to have won this prestigious award together with our partner Södra. I see this as recognition for our joint work, but also as a mandate to continue working on our vision of creating a circular economy for textiles and reducing the negative impact of the textile industry on the environment,” said Stephan Sielaff, CEO of the Lenzing Group.

The OnceMore® pulp from Södra, which was jointly developed further by Södra and Lenzing, is subsequently used, among other things, as a raw material for the production of Lenzing fibers with REFIBRA™ technology. The OnceMore process makes it possible to process and recycle a blend of cotton and polyester.

“This award is proof of our successful collaboration with Lenzing and our shared ability to develop innovative solutions for a more sustainable future. We look forward to further advancing our collaboration and bringing about real change in the textile industry,” said Lotta Lyrå, president and CEO of Södra.

ITMF paid particular tribute to the joint LIFE TREATS project (Textile Recycling in Europe AT Scale)1,which was supported by an EU grant of 10 million euros under the LIFE 20222 program and aims to build a large-scale plant at Södra’s Mörrum site in Sweden.

“The unique across-the-border and long-term cooperation between Lenzing and Södra is a true role model and important for the circular economy transition in the textile industry. A goal that can only be reached by extensive cooperation among the value chain actors,” says Christian Schindler, ITMF Director General.

1 Project 101113614 — LIFE22-ENV-SE-TREATS

2 https://cinea.ec.europa.eu/programmes/life_en

Posted: November 6, 2023

Source: The Lenzing Group

Winners Of The ITMF Start-Up Award 2023

KEQIAO, China — November 6, 2023 — At the ITMF Annual Conference 2023 which concluded today in Keqiao, China and was co-hosted by the China National Textile and Apparel Council (CNTAC) and Shaoxing Municipal People’s Government, the ITMF Start-up Awards were granted for the second time.

The objective of the ITMF Start-up Awards is to bring together start-ups with innovative product and/or service innovations with well-established companies from the textile value chain.

In 2023, the ITMF Start-up Awards were granted to six start-ups. Next to an innovative business idea, the criteria applied by an international expert jury comprised aspects like criteria for business propositions, criteria related to sustainability, recyclability, or digitalization as well qualitative efficiency.

The winners presented their business ideas in a special “Start-up Session” during the ITMF Annual Conference 2023.

The winners of the ITMF Start-up Award 2023 are (in alphabetical order):

CarboScreen, Germany — Presentation: CarboScreen – Online Monitoring of Carbon Fiber Manufacturing

Cebiotex S.L., Spain — Presentation: Biocompatible and Biodegradable Implant Matrix

Colorifix, England — Presentation: Biological Dyeing: How Is It Greener?

Rheiazymes AG, Switzerland — Presentation: Molecular Bio-Recycling preserving high-value polymers

Shaoxing Qian Yong Textile Co., China — Presentation: Exploration and Practice of SMEs in Textile Digital Printing Industry

TreeToTextile AB, Sweden — Presentation: A New Biobased Fiber with Low Climate Impact

For more information about ITMF go to https://www.itmf.org/

Posted: November 6, 2023

Source: International Textile Manufacturers Federation (ITMF)

DeRUCCI Launches First Artificial Intelligence of Things (AIoT) Smart Mattress

DONGGUAN, China — November 3, 2023 — The DeRUCCI Group, a public company and sleep technology brand, launched today the DeRUCCI T11 Pro Smart Mattress, an Artificial Intelligence of Things (AIoT) intelligent sleep solution.

Based on extensive sleep/health research conducted by DeRUCCI with international universities and institutions, the DeRUCCI T11 Pro Smart Mattress is the first smart mattress that instantly adjusts to the individual’s health for optimal sleep; actually warning the user about potential health issues before they are aware of them.

Connects to IoT Home Appliances for a Smart Bedroom

Designed by human-machine engineering, the T11 Pro Smart Mattress features patented AI technologies with 23 flexible sleep/health AI sensors that automatically track subtle changes in position, body temperature, heart rate, and health; with 18 flexible support airbags that instantly respond and support the user’s position and body movements. The DeRUCCI smart mattress employs big data based on 1.08 billion pieces of sleep data, AI software algorithms, smart software/hardware adjustments, and sleep monitoring; and connects to other AIoT home appliances to control the bedroom’s smart thermostat, air conditioner, aromatherapy, air purifier, sleep-enhancing lighting, meditation products, sleep aids, and other IoT devices.

Patented AI Algorithm Provides Real-Time Adjustments Independently on Both Sides of Mattress for Couples

A first of its kind, the DeRUCCI patented Tidal algorithm simultaneously adapts and customizes to each user’s various individual sleeping positions and makes real-time adjustments to perfectly match height, shape, and body areas, such as shoulders, back, waist, hips, and legs. Leveraging the company’s research in ergonomics, AI, and big data; and analyzing factors, such as BMI, sleeping positions, pressure distribution, height, and firmness, DeRUCCI’s AI algorithm enables the mattress to adapt to pressure curves during sleep for a more than 40% improvement in spinal health. DeRUCCI’s AI technology analyzes and makes real-time adjustments independently on both sides of the mattress for couples without interfering with the other person, allowing the bed to adapt to an individual’s needs and care.

Tracks Physiological Indicators

The T11 Pro Smart Mattress tracks and records physiological indicators, such as heart rate and respiration with accuracy levels matching medical equipment standards, reaching a testing rate of 95 perent. It also calculates sleep stages with an accuracy rate of 93.4 percent when compared to PSG (Polysomnography) sleep studies. The smart mattress scientifically evaluates sleep quality and sleep health effectiveness, reducing tossing and turning for a deep sleep that can enhance immunity, providing quantifiable sleep data for consumers. The mattress also offers far-infrared graphene thermal warmth for warm feet ensuring a more comfortable sleep during the cold winter months.

The DeRUCCI T11 Pro Smart Mattress Features:

  • Adaptive Adjustments: adapts to different force curves from bone structure to muscle state with instant adjustments designed not to disturb a partner.
  • Air Support Unit & Algorithm Controls: Piezoelectric ceramic sensors control rubber-sensing airbags and support materials, such as springs, foam, and latex. The airbag’s height and firmness are also adjusted for position and smoothness.
  • AI Sleep Monitoring & Reports: analyzes changes in users’ physiological parameters monitoring sleep with reports on sleep quality, making it easier to reach deep sleep. Provides personalized sleep consultations and recommendations with sleep medicine companies to optimize sleep, exercise, and diet, especially important for elderly care and specialized sports.
  • Graphene Far-infrared Heat: provides smart temperature controls with graphene far-infrared heat of up to 40°C (104°F) with temperature safety functions for intelligent adjustments and intelligent sleep assistance.
  • AI Sleep Health Warnings: analyzes users’ disease data, along with geographic location, age, and sleep monitoring metrics to provide early chronic disease warnings.
    • Smart Sleep App: personalized AI sleep consultant employing ChatGPT-style intelligent Q&A to address sleep-related questions, such as how many hours adults should sleep each day and the benefits of deep sleep.
  • AIoT Connections: combines sleep monitoring results with the ability to control other IoT home appliances to create a smart bedroom.
  • Disease Risk Warnings: uses AI and big data technology to analyze a user’s potential chronic disease data, combining a user’s geographical location, age, and sleep monitoring indicators.
  • Temperature Regulation: uses 10 layers of graphene heating technology to adjust the temperature of the mattress to harness the far infrared (FIR) capabilities of graphene.
  • Snoring Intervention: monitors snoring, adjusting the smart bed to slowly rise and fall to reduce snoring and improve sleep.

Availability

The DeRUCCI T11 Pro AIoT Smart Mattress is available immediately in China and in the U.S. in Q3 2024, priced at $8,250.

Posted: November 3, 2023

Source: The DeRUCCI Group

Carrington Textiles Launches Innovative Website At A+A

ADLINGTON, England — November 3, 2023 — Carrington Textiles, a global textile manufacturer, revealed the launch of its new website during the company’s presence at A+A in Düsseldorf last week.

The event showcased Carrington Textiles’ dedication to sustainability, innovation, and customer engagement. The highlight of the exhibition was the interactive showcase of sustainable fibres and the introduction of fabrics with exceptional stretch properties, including the Tahoe, Lugano, Meteor, Flametougher 290AS and Flameflex 300AS, products; as well as launch of the latest innovation for welders, Flameshield Satin 425. Visitors were given an opportunity to explore the latest eco-friendly textile offerings, including TENCEL™, REPREVE® recycled polyester, organic cotton, and Better Cotton, among others.

Revamped website for enhanced user experience

In addition to the innovation and sustainability commitment, Carrington Textiles launched its brand-new website. This interface is designed to provide an enhanced online experience for customers, partners, and the industry in general. Key features include:

  • Product Visibility: The website showcases fabric photos for each product, offering greater visibility of Carrington Textiles’ fabrics.
  • Improved Search Functionality: Users can now search by industry and colour, making it easier to find the perfect fabric for their specific needs.
  • Live Chat: The website features a live chat option, allowing direct communication with Carrington Textiles’ customer service team for immediate assistance during the company’s working hours.
  • Dedicated Teams Section: Visitors can explore the customer-facing areas of the business, fostering transparency and accessibility.
  • Comprehensive ‘About’ page: The ‘About’ page offers detailed information about the company, accompanied by visual references of Carrington Textiles’ key information.
  • Production Pages: These pages provide insights into Carrington Textiles’ production processes, offering a visual glimpse into their factories via their commercial videos.

This new website will also offer the highly popular advanced search and language options, as well as the members area for visitors to access products’ technical data, downloadable marketing information and more.

Carrington Textiles’ commitment to sustainability, combined with the launch of their user-friendly website, reaffirms their position as a global leader in the textile industry. The company continues to innovate, offering customers the latest in sustainable fabrics and a seamless online experience.

Posted: November 3, 2023

Source: Carrington Textiles Ltd.

Lenzing Implements Comprehensive 
Performance Program In Response To Lack Of Market Recovery

LENZING, Austria — November 3, 2023 — The anticipated recovery in markets relevant for the Lenzing Group, a leading global supplier of specialty fibers for the textile and nonwovens industries, has to date failed to materialize. The continued sharp increase in raw material and energy costs on the one hand and very subdued demand on the other had a negative impact on Lenzing’s business trends as well as on industry as a whole during the reporting period.

Revenue in the first three quarters of 2023 decreased by 5.3 percent year-on-year to 1.87 billion euros. This reduction was primarily due to lower fiber revenues, while pulp revenues were up. The earnings trend was mainly influenced by the market environment. As a consequence, earnings before interest, tax, depreciation and amortization (EBITDA) in the reporting period decreased by 16.7 percent year-on-year to 219.1 million euros. The net result after tax amounted to minus 96.7 million euros (compared with 74.9 million euros in the first three quarters of 2022), while earnings per share amounted to minus 4.90 euros (compared with 2.16 euros in the first three quarters of 2022).

“The recovery that has been expected for the second half of the year in the markets relevant that are for us has so far failed to materialize. As a consequence, the measures we took at an early stage have proved all the more correct. We already launched an ambitious cost-cutting program at the end of 2022, which has delivered the expected results ahead of schedule. Building on this, we are currently implementing a holistic performance program with a focus on measures to boost profitability and cash flow generation as well as to leverage growth potential in the fiber markets through targeted sales activities,” commented Stephan Sielaff, Lenzing Group CEO.

Nico Reiner, Lenzing Group CFO, added: “This performance program enables us to powerfully tackle the current economic challenges and to strengthen Lenzing’s resilience to crises.”

Effective measures launched

As early as the end of 2022, Lenzing successfully implemented a reorganization and cost reduction program with a volume in excess of 70 million euros, while also implementing further measures to strengthen free cash flow. In the third quarter of 2023, Lenzing generated positive free cash flow of 27.3 million euros. At the same time, the balance sheet and liquidity position were significantly strengthened through the successful capital increase of around 400 million euros and the extension of the debt terms in the reporting period.

Building on this, the Managing Board is currently implementing 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. The program initiatives are aimed at generating free cash flow, stronger revenue and margin growth, and sustainable cost excellence. In addition to the positive effects on sales, the Managing Board expects annual cost savings of more than 100 million euros, of which approximately 50 percent will be effective from the coming financial year.

As in past programs, some of the cost reductions will derive from a reduction in personnel costs. It is currently assumed that global personnel costs will be reduced by up to 30 million euros, or around 500 full-time equivalents (FTE), which will be achieved by not filling positions that fall vacant due to retirements and natural attrition, as well as by staff reductions. For the Austrian sites in Lenzing and Heiligenkreuz, negotiations are currently underway with the works council concerning a social plan, the implementation of which is scheduled to commence in the first quarter of 2024.

During the reporting period, Lenzing also successfully implemented a capital increase with subscription rights for existing shareholders. The gross issue proceeds of approximately 400 million euros are being deployed to strengthen the balance sheet and liquidity position, to create additional flexibility in relation to the financing strategy and to support the Better Growth strategy.

“Better Growth” further advanced

Implementation of the “Better Growth” corporate strategy continued in the reporting period. This strategy is aimed, among other things, at better serving structural demand growth for eco-friendly and high-quality specialty fibers of the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ brands. After the successful conversion of a production line in Nanjing (China) in the first quarter of 2023, Lenzing was also able to complete its conversion and modernization measures in Purwakarta (Indonesia) in the third quarter with the aim of converting to specialty viscose and significantly reducing specific emissions. Viscose fibers produced at the site under the LENZING, ECOVERO and VEOCEL brands are marked with the EU Ecolabel, an internationally recognized eco label for environmentally responsible products and services.

Lenzing is therefore able to generate 100 percent of its fiber sales with specialty fibers from the TENCEL, LENZING ECOVERO and VEOCEL brands.

Outlook

According to the IMF, a full return of the global economy to pre-pandemic growth rates appears increasingly out of reach in the coming quarters. In addition to the consequences of the pandemic and the ongoing war in Ukraine, growth is also being influenced by restrictive monetary policy and extreme weather events. The consequences of the renewed military confrontation in the Middle East are not yet foreseeable. Overall, the IMF warns of greater risks to global financial stability, and expects the growth rate to decrease to 3 percent this year and to 2.9 percent next year.

The currency environment is expected to remain volatile in the regions of relevance to Lenzing.

The general market environment is continuing to weigh on the consumer climate and on sentiment in the industries relevant to Lenzing.

In the trend-setting market for cotton, the current 2023/24 crop season is emerging as a further 1.7 million metric tons of inventory build-up, following 1.8 million metric tons of inventory build-up in the previous season.

Earnings visibility remains severely limited overall.

Lenzing is fully on track with the implementation of the reorganization and cost reduction program and on this basis is implementing a comprehensive performance program focused on positive free cash flow, strengthened sales and margin growth as well as sustainable cost excellence. The overarching goal is to position Lenzing even more strongly and to further increase its crisis resilience.

Posted: November 3, 2023

Source: Lenzing Aktiengesellschaft

MySize’s Naiz Fit Launches New Product For $33 Billion Workwear & Uniforms Market — Several New Clients Signed

AIRPORT CITY, Israel — November 2, 2023 — MySize Inc., an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced its Spain-based Naiz Fit has launched a new sizing solution product — Naiz Fit Workforce — specifically addressing the needs of the $33 billion global workwear and uniforms market. Based on the Company’s AI-driven sizing solutions technology platform, Naiz Fit Workforce solves several challenges and pain points faced by companies who make workwear as well as those who purchase uniforms for their employees.

Some of the largest workwear companies in Spain have already become customers benefiting from Naiz Fit Workforce including Santexo, Norvil, Satara Seguridad. Naiz Fit has received interest in the new product from numerous other companies across Europe.

“Naiz Fit Workforce is changing the economics of the multi-billion dollar workwear business by applying fashion-tech and AI to reduce costs and environmental footprint while speeding up delivery and improving customer service,” stated MySize Founder and CEO Ronen Luzon. “This latest product launch is a testament to MySize’s commitment to innovation and the power of our technology platform to spawn new products for focused markets where our technology can have an immediate impact.”

Traditionally, the workwear industry has been characterized by manual data collection and sizing processes, slower shipment and logistics due to sizing considerations, and inventory/out-of-stock challenges based on size limitations.

Naiz Fit Workforce reduces logistics costs, accelerates order fulfillment processes, optimizes sizing at the manufacturing stage, and saves labor costs and time for employees including essential workers such as police and firefighters who can simply fill out an online form, with no need to physically try on a uniform. Naiz Fit Workforce offers flexibility and comfort for employees including:

  • On-demand measuring process 100% online;
  • Self-service kiosks;
  • For any type of garment;
  • Automatic size match;
  • Available for mobile, tablet and desktop;
  • Monitors the number of employees measured and the garments needed;
  • Follow ups to re-measure employees if needed; and
  • Data safely gathered.

The global workwear market was valued at $33 billion in 2023 and is forecast to reach nearly $40 billion by 2028, according to Industry Research.

Posted: November 2, 2023

Source: MySize Inc.

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