Quantum Materials LLC Acquires the Innegra™ Portfolio of High-Performance Fibers

GREENSBORO, N.C. – October 24, 2023 – Quantum Materials LLC, a vertically integrated manufacturer of multifilament and monofilament yarns, elastomeric woven suspension fabrics and industrial textiles, has acquired the Innegra™ portfolio of patented high-performance fibers and materials. Innegra will serve as a foundational product to support Quantum’s growth of new technical and industrial textile solutions for the composite and textile markets.

Quantum has accelerated its capital expenditure plan over the last three years to expand the company’s manufacturing asset base to meet increased demand for domestic textile production. The expansion, which included investment in equipment and infrastructure to support the production of Innegra, has allowed the company to seamlessly merge the Innegra business into its operations post-acquisition and successfully service the brand’s current customer base.

“For over 15 years, Innegra has been effectively used across a wide range of composite applications. We are excited to incorporate Innegra and its patented range of fibers and materials into our product portfolio,” said Allen Smith, CEO of QTI Fibers. “This strategic acquisition fits within our vision of being the industry leader in the development and commercialization of technical textile solutions. As we move forward with Innegra, we see many opportunities that extend past composites, including its integration into products manufactured by the QTI company portfolio, consisting of the Quantum, Twitchell and Infinity businesses.”

Engineered to enhance and amplify the performance of composite and textile materials, Innegra is the lightest synthetic fiber commercially available and can be used as a standalone fiber, or it can be hybridized with other structural fibers or materials. It is chemically resistant, hydrophobic, tough, durable and has excellent dielectric properties, while also being flexible, ductile and fusible. The fiber also has the ability to dampen vibrations, aid impact resistance and can be synergistically combined with many other materials and fibers to improve product performance properties. Today, Innegra can be found in footwear, sporting goods, U.S. military and ballistic products, and various automotive, aerospace and marine applications.

Quantum will be exhibiting the Innegra brand at the upcoming CamX show (Booth #G23) in Atlanta, GA from October 31 through November 2, 2023.

Posted October 24, 2023

Source: Quantum Materials

Itema And Tofflon Science And Technology Group Co. Ltd. Have Presented Tofflon Itema Srl., A New Joint Venture Dedicated Open Innovation At The Service Of The Pharmaceutical And Biotech Industry

COLZATE, BERGAMO, Italy — October 24, 2023 — Itema, a global provider of advanced weaving solutions, and Tofflon Science and Technology Group Co. Ltd., Asiatic giant company in the pharmaceutical industry, have presented Tofflonit, the new joint venture dedicated to the production of industrial lyophilizers for the biopharmaceutical sector that operates under the name Tofflon Itema Srl. With an initial investment of 10 million euros, the company will have its regional headquarters in Nibbia, in the province of Novara, where a manufacturing plant with high quality and innovation levels has been operating since October. The agreement was illustrated in Bergamo on October 24th during BioTopics 2023, the event dedicated to biotechnologies and open innovation.

Founded in Shanghai in 1993, Tofflon is a comprehensive pharmaceutical equipment supplier to provide process support, core equipment, integrated system and pharma engineering for the pharma and biotech industry, with more than 5,800 employees worldwide and a 2022 turnover of about 800 million US dollars. In order to pursue its strategy of internationalization and expansion, the group chose Itema as the partner for the planning and engineering of its new branch in Europe, where the group will produce lyophilization systems for the production of antibiotics, vaccines, diagnostic drugs, products containing proteins and biotechnological products.

Michael Chang, senior vice president of Tofflon Science and Technology Group Co. Ltd. and Ugo Ghilardi, CEO of Itema

“Throughout our thirty-year activity, we have developed solid skills for the production of machinery and equipment for the pharmaceutical and biotech industry. Our aim is to further grow in the European and American markets, approaching clients to whom we want to ensure the excellence of our solutions with efficient services and ideal shipping times. We are sure that the collaboration with Itema will enable us to reach excellent results”, said Michael Chang, senior vice president of Tofflon Science and Technology Group Co. Ltd.

Known in the world for its weaving machines and integrated solutions, Itema has transferred its experience in mechanical, electronic, and mechatronic technologies to Itemalab, founding a multidisciplinary hub that in the last few years has become a privileged partner for companies in any industrial sector that need advice and support in innovation and sustainability, from digitalization to system engineering.

“We are proud that Tofflon selected Itemalab to fine-tune the industrial plan that will bring to the market its advanced lyophilization systems. The factory of Tofflonit in Nibbia is a clear demonstration of the skills of Itemalab in the fields of lean manufacturing and open innovation, and it represents another significant step of our Group diversification strategy after the takeover of Lamiflex, leading supplier of composite products”, added Ugo Ghilardi, CEO of Itema.

Posted: October 24, 2023

Source: Itema Group

Transforming Athletic Sportswear: Phystep Incorporates Compo-Sil® Technology To Revolutionize Leggings

HSINCHU, Taiwan — October 24, 2023 — General Silicones (GS), a globally supplier of silicone products for over half a century, is thrilled to announce a transformative collaboration with Latvian activewear startup Phystep. By leveraging GS’s state-of-the-art Compo-SiL® silicone rubber technology, Phystep is redefining the meaning of sportswear.

Harnessing customized silicone elastic film, Phystep ingeniously integrates kinesiology into their design protected* activewear. The groundbreaking Compo-SiL adhesion technology propels this audacious endeavor, affording athletes an unparalleled edge — a 20 percent increase in caloric burn with every stride or stretch with their leggings.

Elastic Film for Sportswear, Kinesiology Tape, and Therapy Applications

The Compo-SiL SR series combines resilience, stretchability, and skin-friendliness in a durable material that retains shape and elasticity — even after extended wear and multiple washes.

“We’ve tried dozens of materials, but only Compo-SiL SR series delivered the essential shape retention and skin-friendly features that set it apart in our industry,” said Agris Muskars, founder of Phystep.

Ideal for both medical and athletic applications, the SR series is the go-to choice for companies aiming to enhance their products with kinesiology taping or elastic therapeutic tape. Its versatility makes it suitable for a wide range of end-products, from medical and sports protective gear to compression garments and supportive apparel like leggings and joint supports.

Seamlessly Integrating Compo-SiL® into Sportswear Manufacturing

The malleable properties of Compo-SiL’s silicone rubber offer a vast canvas for innovation. The 1.4-meters-wide, easy-to-cut Compo-SiL sheets ship in rolls readily adaptable to existing roll-to-roll mass production. The patented technology of Compo-SiL allows the silicon rubber to bond firmly and securely to textile surfaces through standard PUR or hot melt adhesion.

“Typical heat transfer materials come in sizes of 1m x 0.5m, which limits resource optimization. The Compo-SiL SR series, however, is produced in a more accommodating 1.4-meter width, making it easier for us to cut efficiently,” Muskars said.

A Call to Product Innovators Across Industries

Phystep’s pioneering application showcases the extensive versatility of Compo-SiL technology. Beyond its current utility, Compo-SiL sheets can be enhanced to incorporate various value-additions like antibacterial and antiviral functionalities, flame resistance, and anti-slip properties. GS encourages forward-thinking product managers across sectors to seize this moment to catalyze innovation and diversification through Compo-SiL.

*Phy-TP® RCD 015022132-0001

Posted: October 24, 2023

Source: General Silicones (GS)

Sage Automotive Interiors Partners With US Startup NFW

GREENVILLE, S.C. — September 19, 2023 — Sage Automotive Interiors has partnered with Peoria, Ill.-based startup, NFW, a producer of a plastic-free, plant-based leather alternative for car interiors. This strategic partnership between Sage Automotive Interiors, part of the Asahi Kasei Group, and NFW, a leading global provider of innovative and functional materials for the automotive interior — enables another major step to support global automotive OEMs in reducing the environmental burden of the automobile lifecycle.

NFW was founded in 2015 and has developed the only platform capable of producing precision-engineered, all-natural (zero plastic) leather, foam, and textiles to replace animal and petrochemical-based materials. MIRUM®, the company’s patented leather alternative, is made from natural rubber, natural fibers, plant oils, natural pigments, and minerals. MIRUM is bio-neutral and can be safely returned to the Earth or recycled by NFW at the end of its lifetime. The material offers superior durability and quality that can replace traditional animal-based or synthetic leather products without the use of any polyurethane or other coatings.

Sage is engaged in the development, manufacturing, and sales of innovative functional materials used in automobile interiors globally. Since its acquisition by Asahi Kasei in 2018, Sage has continued to strengthen its business activities in Europe and China through mergers and acquisitions in parallel to expanding its lineup of growth-potential materials such as suede and synthetic leather. As one of the leading global suppliers in the car seat fabric market, Sage has a strong presence among automakers and suppliers.

Luke Haverhals, CEO and founder of NFW, said: “Over time, our partnership with Sage will allow consumers to apply the same decision-making process that they use in their homes, in their cars as well — the most sustainable option will be available to them. The kind of impact that matters to the planet has to happen at scale, not just around the edges.”

Dirk Pieper, Chairman of the Sage Automotive Interiors Board of Directors and Lead Executive for the development and growth of Asahi Kasei’s overall automotive product offering, stated: “The cooperation with NFW will enable Asahi Kasei and Sage to assist global automakers in reducing the environmental burden of their cars. By jointly developing and manufacturing a plastic-free, plant-based, and fully circular leather alternative, the Asahi Kasei Group takes a leading position in revolutionizing the market for interior mobility materials.”

First project within the “Care for Earth” investment framework:

The cooperation with NFW is part of Asahi Kasei’s “Care for Earth” investment framework, which was announced in April 2023. Asahi Kasei has committed itself to investing $100 million worldwide in early-stage startups that aim to solve issues in environmental fields such as hydrogen, energy storage, carbon management, and bio-based chemicals over a 5-year period up to the fiscal year 2027. As introduced in its medium-term management plan titled “Be a Trailblazer” in April 2022, the car interior material business is one of Asahi Kasei’s “10 Growth Gears” that are to drive future company growth and provide more than 70 percent of operating income around 2030.

Posted: October 24, 2023

Source: Sage Automotive Interiors —an Asahi Kasei company

 

Hexcel To Showcase New Intermediate And High Modulus Fiber Hexply® M79 Prepregs At METS 2023

STAMFORD, Conn. — October 23, 2023 — Hexcel will continue to celebrate its 75th anniversary and highlight its latest developments for the Marine market at METSTRADE 2023 on November 15-17. Hexcel will showcase innovative advanced lightweight material technologies including new intermediate and high modulus fiber HexPly® M79 prepregs and present example high-performance superyacht and windship components developed by customers using Hexcel materials.

The new intermediate modulus prepreg combines the low temperature curing and simple processing of the DNV GL accredited HexPly M79 resin system with the market-leading stiffness of HexTow® IM2C fiber, creating a uniquely optimized composite material for highly loaded components. Originally developed to provide best-in-class performance for America’s Cup and IMOCA hull and deck structures, the new combination minimizes structural deformation under load in parts such as rigs, foils, and other appendages.

For a high modulus solution, HexTow® HM54 fiber is also now available with the HexPly M79 resin system. The unique mechanical properties of HexTow HM54 fiber allow structural designers to achieve higher safety margins for both stiffness and strength critical applications. Both products can be manufactured with Hexcel G-Vent technology for out-of-autoclave processing, delivering a game-changing reduction in process time and cost without compromising mechanical performance.

Hexcel will also display customer products that have benefited from the performance and processing gains provided by HexPly materials. A section of a Solid Sail mast made using Bureau Veritas (BV)-approved HexPly® M9.6 prepregs will be exhibited at METS. Such masts are used for wind propulsion and, by harnessing the power of ocean winds, they reduce reliance on engines, reducing fuel usage and emissions.

Visitors to the Hexcel booth will also see a section of a radar arch part from luxury motor yacht builder Sunseeker made using HexPly® XF surfacing technology and HexPly® SuperFIT semi-pregs. The part is lighter in weight and stiffer than versions made using resin-infusion processes and de-molds with a pinhole-free surface that needs minimal preparation to be ready for painting. Sunseeker has recorded an overall reduction in process time and material costs of around 30% against traditional prepreg parts, using Hexcel advanced composite materials.

“Leveraging our experience in carbon fiber manufacturing and resin system development has created two stand-out products for the marine sector,” said Claude Despierres, Hexcel Vice President — Sales and Marketing, Industrial. “New IM2C and HM54 HexPlyM79 materials provide powerful yet lightweight building blocks for designers and engineers working on high-performance structures in superyacht, commercial marine and windship applications.”

Posted: October 24, 2023

Source: Hexcel Corporation

Aptean Reveals Key Fashion And Apparel Industry Trends For North America In 2024

ALPHARETTA, Ga. — October 24, 2023 — Aptean, a global provider of mission-critical enterprise software solutions, announced the publication of its Fashion and Apparel 2024 Trends and Outlook Report for North America. In the report, Aptean presents valuable insights into the fashion and apparel industry, highlighting six key trends that will shape the industry in 2024.

Some 71 percent of respondents surveyed cited higher operating costs as the most significant barrier to growth. To combat this challenge, brands are increasingly embracing automation. On average, automation of critical business tasks increased by over 20 percent from 2022 to 2023. The adoption of cutting-edge technologies such as shipping software, enterprise resource planning (ERP) and product lifecycle management (PLM) is proving instrumental in driving this progress. Additionally, digital transformation is taking center stage, as one in three brands have already completed their digital transformation projects, while 63 percent are well on their way.

The integration of Artificial Intelligence (AI) is a key investment area, with 38 percent of organizations already reaping higher profits and revenue growth from its implementation. Automation to bring efficiencies to critical business functions continues to be paramount, with 65 percent of brands utilizing shipping software solutions, 62 percent relying on ERP systems and 55 percent deploying a PLM to improve speed to market. Addressing staffing challenges, 74 percent of organizations are focusing on outsourcing and efficiency measures, while simultaneously tackling supply chain disruptions through improved visibility, forecasting, and production scheduling capabilities.

Notably, sustainability is emerging as a top priority, with 90 percent of organizations actively pursuing environmental initiatives. These efforts not only enhance brand image but also drive improvements in efficiency and mitigate risk. By embracing technology, adopting customer-centric strategies, and prioritizing sustainability, businesses can position themselves for growth and resilience in the dynamic fashion and apparel landscape of 2024.

“It’s no surprise that rising costs and supply chain disruptions are top of mind for most apparel brands and manufacturers,” said Roberto Mangual, senior vice president and general manager of the Americas Discrete Business Unit at Aptean. “As organizations navigate these challenges, digital transformation through automation has emerged as a critical pathway to safeguard growth and it’s clear that a commitment to embracing automation has paid off, with an average rate of growth in 2022 that was 30-percent higher than that of those still relying on manual processes.”

The research was conducted by Aptean and B2B International in July of 2023. Responses came from more than 100 fashion and apparel businesses across the United States and Canada. These findings, along with the complete research report, are now accessible in Aptean’s latest publication, Fashion and Apparel 2024 Trends and Outlook for North America. You can find the report here. https://lp.aptean.com/NA_Fashion_and_Apparel_Trends_and_Outlook_LP_AID11600.html

Posted: October 24, 2023

Source: Aptean

Ermenegildo Zegna Group Continues To Deliver Robust Growth In Third Quarter Of 2023

MILAN — October 24, 2023 — Ermenegildo Zegna N.V. (Zegna Group), owner of the ZEGNA and Thom Browne brands and exclusive licensee for the TOM FORD fashion business, today announced unaudited revenues of 431 million euros ($456 million) for the third quarter of 2023.

  • Revenues1 for the third quarter of 2023 reach 431 million euros, up 20.8 percent year-over-year and with an organic2 growth rate of 11.3 percent.
  • Revenues for the first nine months of 2023 reach 1.33 billion euros ($1.41 billion), up 22.9 percent year-over-year and with an organic growth rate of 19.2 percent.
  • Group is taking over retail distribution of the ZEGNA brand in South Korea as of early 2024.
  • Third quarter revenues support the Group’s FY 2023 and mid-term outlook.

Revenues were up 20.8 percent year-over-year and up 25.0 percent year-over-year on a constant currency3 basis, with an organic growth rate of 11.3 percent. For the first nine months of the year, unaudited revenues came in at 1,334 million ($1,412. million), up 22.9 percent year-over-year and up 24.8 percent year-over-year on a constant currency basis, with an organic growth rate of 19.2 percent. Revenues for the first nine months of 2023 reflect the consolidation of Tom Ford International LLC as of April 29, 2023, as well as the consolidation of Pelletteria Tizeta S.r.l., which was previously accounted for using the equity method, as of the same date.

Ermenegildo “Gildo” Zegna, chairman and CEO of the Zegna Group, said: “Our results this quarter continue to showcase the broad-based strength of our three brands and the successful execution of our strategy. I am particularly pleased that we are performing well across a diverse set of regions, as the balance of our geographic mix provides resilience in a highly dynamic environment.”

“I am confident that the continued progress of the ZEGNA rebranding, including the full implementation of the One Brand strategy in China, the expansion opportunities for Thom Browne, and the integration and evolution of TOM FORD FASHION all provide valuable tailwinds despite the current global operating environment.

“The Group’s leadership team is looking forward to our second Capital Markets Day this December at the New York Stock Exchange, where we will be presenting our updated financial goals, including those for the TOM FORD fashion business.”

Recent Highlights

  • ZEGNA to Directly Operate Business in South Korea 
— On October 23, 2023, ZEGNA executed an agreement with its South Korean franchise partner through which the Group will purchase the entity operating the ZEGNA business in the country. Pursuant to this, ZEGNA will directly operate its South Korean business starting in the first quarter of 2024. This includes converting the 15 ZEGNA stores in the region to direct-to-consumer points of sale. ZEGNA has been present in South Korea since 1997 and this step is consistent with the brand’s strategy of continuing to increase control over the business.
  • Thom Browne celebrates 20th Anniversary 
— As Thom Browne celebrates its 20th anniversary, the brand has launched a monograph celebrating the legacy of the house and the man behind it. Earlier this month, the Victoria & Albert Museum celebrated the iconic designer in a special conversation with fashion writer and author Charlie Porter. After London, the 20th anniversary monogram celebrations have continued with dedicated events in Tokyo (including at the Aoyama flagship store), Seoul (at Leeum Museum and at 10 Corso Como), and Shanghai. The brand is also marking the anniversary with a number of activities at its boutiques worldwide.
  • TOM FORD FASHION Updates — On September 21, 2023, Peter Hawkings debuted his very first collection as Creative Director of Tom Ford. The show, which was part of the Spring / Summer 2024 Milan Fashion Week, was very well-received by the media, critics and the trade, heralding a new chapter in fashion for the iconic brand under the stewardship of the Group.

Review of Revenues for the Third Quarter 2023 and the Nine Months ended September 30, 2023

In the third quarter of 2023, Zegna Group generated revenues of 431 million, an increase of 20.8 percent year-over-year. On a constant currency basis, revenues grew by 25.0 percent compared to the same period in the prior year, with an organic growth rate of 11.3 percent. Growth was led primarily by the strength of Zegna-branded products, especially in the direct-to-consumer (DTC) channel.

Revenues by Segment

Zegna Segment: For the third quarter of 2023, revenues for the Zegna segment amounted to 298 million euros ($315 million), growing 3.0 perent year-over-year and 6.0 percent year-over-year on a constant currency basis, with an organic growth rate of 12.7 percent for the quarter. This brought revenues for the first nine months of the year to 950 million euros ($1.006 million), up 12.7 percent year-over-year and up 14.1 percent year-over-year on a constant currency basis, with an organic growth rate of 20.1 percent for the first nine months of the year. The performance of the Zegna segment reflects the strength of the Zegna branded product line, especially in the DTC channel, which more than offset the impact of the end of the distribution licensing agreement for Tom Ford International on the Third-Party brands product line4.

Thom Browne Segment: For the third quarter of 2023, revenues for the Thom Browne segment amounted to 74 million euros ($78 million), growing by 6.3 percent year-over-year and 13.1 percent year-over-year on a constant currency basis, with an organic growth rate of 8.5 percent for the quarter. This brought revenues for the first nine months of the year to 282 million euros ($299 million), up 10.4 percent year-over-year and up 13.3 percent year-over-year on a constant currency basis, with an organic growth rate of 15.7 percent for the first nine months of the year. The organic growth rate for Thom Browne excludes the effect of the acquisition of the retail business in South Korea, which resulted in the conversion of the South Korean business from wholesale to DTC.

Tom Ford Fashion Segment: Since April 29, 2023, which marked the beginning of the consolidation of Tom Ford International LLC into the Group’s financial statements, Tom Ford Fashion is represented as a new operating and reporting segment of the Group. The Tom Ford Fashion segment includes all activities related to TOM FORD FASHION, from collection creation and development to merchandising, through to production, as well as retail and wholesale distribution. From April 29, 2023, to September 30, 2023, the segment reported revenues of 139 million euros ($147 million). In the third quarter of 2023, revenues totaled 75 million euros ($79 million).

Revenues by Product Line

Zegna-Branded Products: Revenues for Zegna-branded products were 242 million euros ($256 million) for the third quarter, up 8.0 percent year-over-year, with constant currency and organic growth both at 12.2 percent. This brought revenues for Zegna-branded products during the first nine months of 2023 to 784 million euros ($830 million), up 20.6 percent year-over-year, and with constant currency and organic growth both at 22.9 percent. The growth was driven by strong double-digit revenue performance in luxury leisurewear and in the Made-to-Measure business, while the shoes category continued to strongly outperform.

Thom Browne: Revenues for Thom Browne were 73 million euros ($77 million) for the third quarter, growing by 5.8 percent year-over-year and 12.6 percent year-over-year on a constant currency basis, with an organic growth rate of 8.0 percent for the quarter. This brought revenues for the first nine months of the year to 280 million euros ($296 million), up 10.1 percent year-over-year and up 13.1 percent year-over-year on a constant currency basis, with an organic growth rate of 15.5 percent for the first nine months of the year. Revenues for womenswear continued to outperform at Thom Browne and represented close to 30 percent of total revenues for the quarter.

Textile: Textile revenues were 35 million euros ($37 million) during the third quarter of 2023, up 17.2 percent year-over-year and up 15.7 percent on a constant currency basis, with an organic growth rate of 16.1 percent for the quarter. This brought textile revenues to 109 million euros ($115 million) for the first nine months of the year, up 9.4 percent year-over-year and up 8.4 percent year-over-year on a constant currency basis, with an organic growth of 8.6 percent for the first nine months of the year.

Third-Party Brands4: The revenues for the Third-Party Brands product line in the third quarter of the year were 5 million euros ($5.3 million), down 86.0 percent year-over-year and down 85.9 percent year-over-year on a constant currency basis, impacted by the end of the distribution licensing agreement for Tom Ford International, with an organic growth rate of -14.3 percent. For the first nine months of the year, revenues for the Third-Party Brands product line were 20 million euros ($21 million), down 74.9 percent year-over-year and down 75.2 percent year-over-year on a constant currency basis, with a -8.1 percent organic growth rate.

Revenues by Channel

DTC revenues reached 282 million euros ($299 million) in the third quarter of 2023, up 29.9 percent year-over-year and up 37.7 percent year-over-year on a constant currency basis, with an organic growth rate of 12.9 percent for the quarter. For the first nine months of the year DTC revenues reached 865 million ($916 million), up 34.2 percent year-over-year and up 38.4 percent year-over-year on a constant currency basis, with an organic growth rate of 24.6 percent. DTC revenues represented 64.8 percent of group revenues in the first nine months of 2023, up from 59.4 percent in the same period last year.

Of the 282 million euros DTC revenues in the third quarter, 195 million euros ($206 million) came from Zegna-branded products, where DTC revenues were up 8.3 percent year-over-year and up 14.0 percent year-over-year on a constant currency basis and on an organic growth basis, driven by a continued improvement in store productivity. Thom Browne DTC revenues came in at 43 million euros ($46 million), up 18.6 percent year-over-year and up 32.1 percent year-over-year on a constant currency basis, with an organic growth rate of 7.7 percent for the quarter, reflecting the shift of the South Korean business from wholesale to DTC. TOM FORD FASHION contributed 43 million euros in the third quarter.

Meanwhile, wholesale revenues reached €148 million in the third quarter of 2023, up 6.6% year-over-year and up 6.1% year-over-year on a constant currency basis, with an organic growth rate of 8.1% for the quarter. For the first nine months of the year wholesale revenues reached €466 million, up 6.4% year-over-year and up 5.7% year-over-year on a constant currency basis, with an organic growth rate of 9.9%. Wholesale revenues represented 34.9% of Group revenues in the first nine months of 2023, down from 40.3% in the same period of last year.

Of the €148 million wholesale revenues in the third quarter, €47 million came from Zegna-branded products, up 6.7% year-over-year and up 5.0% year-over-year on a constant currency and organic growth basis. Thom Browne wholesale revenues reflected the conversion of the South Korean points of sales from wholesale to DTC and amounted to €30 million, down 8.6% year-over-year and down 7.8% year-over- year on a constant currency basis, but with an organic growth rate of 8.3% for the quarter. The balance of wholesale revenues came from TOM FORD FASHION (€32 million) and from the Third Party Brands and Textile segments (€40 million, down 36% year-over-year and down 36.3% in constant currency, and with organic growth of 11.5%).

Revenues by Geography

During the third quarter of 2023, the Group saw double-digit organic growth across a number of key regions, including EMEA and North America, led by revenues from the U.S.

Revenues in the EMEA region reached €152 million in the third quarter of 2023, up 27.7% year-over-year and up 29.4% year-over-year on a constant currency basis, with an organic growth rate of 18.5% for the quarter. The double-digit growth in the region, which was seen across Europe and the Middle East for both ZEGNA and Thom Browne, was driven by DTC demand. For the first nine months of 2023, the EMEA region reached €475 million in revenues, up 25.0% year-over-year and up 25.8% year-over-year on a constant currency basis, and with an organic growth rate of 20.5%.

North America revenues reached €111 million for the quarter, up 44.2% year-over-year and up 45.0% year-over-year on a constant currency basis, with an organic growth rate of 12.3%. The U.S. saw revenues at €102 million for the quarter, up 47.8% year-over-year and up 48.4% year-over-year on a constant currency basis, with an organic growth rate of 13.7%. The growth in U.S. revenues came on the back of contributions from the newly-included Tom Ford Fashion segment as well as outstanding DTC performance for both ZEGNA and Thom Browne, both of which recorded an outstanding high double-digit revenue growth. For the first nine months of 2023, revenues in North America reached €285 million, up 34.4% year-over-year and up 32.6% year-over-year on a constant currency basis, with an organic growth rate of 14.9%.

In the third quarter of 2023, revenues in APAC reached €158 million for the quarter, up 3.5% year-over-year and up 11.7% year-over-year on a constant currency basis, with an organic growth rate of 5.4%. Revenues for the first nine months of 2023 in APAC were €547 million, up 16.0% year-over-year and up 20.9% year-over-year on a constant currency basis, with an organic growth rate of 20.4%.

In the APAC region, growth was remarkable in Japan, where Group revenues reached €19 million, up 31.8% year-over-year and up 44.8% year-over-year on a constant currency basis, with an organic growth rate of 30.9% for the quarter. The region also benefited from the conversion of 17 stores in South Korea after the acquisition of the Thom Browne business there. In the third quarter of 2023, the Greater China Region saw revenues to €112 million, a 3.4% decrease year-over-year and up 5.2% year-over-year on a constant currency basis, with an organic growth rate of 3.5%. Revenues for the first nine months of 2023 in the Greater China Region were €419 million, up 15.3% year- over-year and up 20.6% year-over-year on a constant currency basis, with an organic growth rate of 19.8%.

In Latin America, revenues in the third quarter of 2023 reached €8.4 million, up 19.6% year-over-year and up 9.0% year-over-year on a constant currency and on an organic growth basis. This brought revenues in Latin America for the first nine months of 2023 to €24 million, up 23.5% year-over-year and up 13.9% year-over-year on a constant currency and on an organic growth basis.

Outlook

On May 17, 2022, at its first Capital Markets Day, the Group announced its financial goals for the medium term, which management defines as the end of fiscal year 2025. Within this time frame, the Group is aiming for annual revenues to exceed €2 billion and for Adjusted EBIT Margin to reach at least 15%, excluding the Tom Ford Fashion segment. The Group’s Q3 2023 revenues confirm that the Group remains on this trajectory. The Group’s medium-term targets assume no major future worsening of the global geopolitical, health, macroeconomic and financial markets situation, and no other unforeseen events.

Capital Markets Day

The Group will host a Capital Markets Day on December 5, 2023, at the New York Stock Exchange (NYSE) in New York, where it expects to announce updated medium- to long-term financial goals, including for the Tom Ford Fashion segment.

1 Throughout this press release, revenues for the third quarter of 2023 and the nine months of 2023, and comparatives thereof, are unaudited.


2 Organic growth is a non-IFRS financial measure. See the Non-IFRS Financial Measures section starting on page 8 of this press release for the definition of such non-IFRS financial measure and a reconciliation to the most directly comparable IFRS measure. 


3 Revenue growth at constant currency is a non-IFRS financial measure. See the Non-IFRS Financial Measures section starting on page 8 of this press release for the definition of such non-IFRS financial measure. 


4 As previously disclosed, the licensing agreement for the production and worldwide distribution of luxury men’s ready-to-wear and made- to-measure clothing, footwear, and accessories under the TOM FORD brand expired with the deliveries of the Fall/Winter 2022 collection, and a supply agreement to act as the exclusive supplier for certain TOM FORD menswear products commenced starting with the Spring/ Summer 2023 collection.

Posted: October 24, 2023

Source: Ermenegildo Zegna Group

Slack & Parr Showcases Spin Finish Pump For Polyesters Alongside High-Accuracy Metering Capability For Speciality Fibres At ITMA Asia

KEGWORTH, England — October 24, 2023 — Precision gear metering specialist Slack & Parr will showcase its updated Spin Finish Pump for the polyester market alongside its range of fluid metering technologies for specialty fibers at ITMA Asia in Shanghai, China.

This is the first time the company has brought its newly redesigned SPO Spin Finish Pump to the Asia-Pacific market since the technology was launched at ITMA, Milan, in June. The pump has been re-engineered with fewer components and a modular design that is simple and cost-effective to operate and maintain but capable of very high levels of accuracy. It has been developed for the application of finish emulsions onto filaments typically used in hot-melt manufacture of POY and FDY polyester yarns. Featuring a compact design and robust build, it is used to meter and apply oil-based emulsions onto yarns to improve efficiency in downstream processes and offers capacities down to 0.014cc/rev with very high accuracy including at low speeds.

Tailored metering technologies

Slack & Parr supplies its high-accuracy gear metering pumps to all areas of the manmade fiber market where they are used to deliver uniformity and consistency into the manufacture of high-quality yarns and textiles including acrylic, polyester, nylon, spandex, and aramid.

At ITMA Asia, the company will also highlight its precision metering capability for specialty fibers including carbon fiber, recycled polymers, and industrial yarns such as tire cord, and reveal how its pumps are developed to meet the unique requirements of every application.

“Matching our metering technologies to the exact needs of our customers’ businesses is an important part of what we do,” explained Slack & Parr’s Global Sales Director Paul Wykes.

“Thanks to our highly skilled and experienced design and engineering teams, we’re very good at tailoring our solutions for niche markets and specialty fibers. That might mean selecting the most robust build materials and low-wear surface finishes for the metering of high-viscosity and abrasive fluids used in industrial applications, or engineering a pump to the highest tolerances to maintain an extremely accurate flow of resin at variable speeds in order to create high-value carbon fiber composite materials and parts, such as hydrogen fuel cells, batteries, and storage tanks.”

Slack & Parr has been selling its technologies into the Asia-Pacific region for more than 30 years and operates dedicated service centers in Shanghai, China and Douliu, Taiwan. The region accounts for 60 percent of the company’s total global revenues.

“It’s great to be back at ITMA Asia sharing our technologies with our customers and colleagues in what is a very important region for us,” Wykes said.

“The show heralds what we hope is the beginning of a new chapter in Asia’s textile manufacturing sector as the market emerges from the impacts of the COVID pandemic.

“While we’re seeing early signs of an upturn in polyester production in the region, we’re also feeling the market shift and evolve to encompass new and innovative methodologies for fast-growing sectors such as carbon fiber composites and recycled polymers. These are exciting developments and we’re very well positioned to support the ongoing growth anticipated in these areas.”

Manufacturing investment

In August, Slack & Parr was acquired by Hayward Tyler Fluid Handling, a subsidiary of international engineering company Avingtrans plc. As part of the deal, in which Slack & Parr retained its entire management team and secured the employment of its 100-strong workforce of skilled employees, the company is now making a series of strategic investments in its manufacturing equipment and processes.

“We’ve built a global reputation for delivering gear metering pumps of the highest quality and precision over many decades,” Wykes said.

“This year’s ITMA Asia gives us the opportunity to demonstrate to the Asia-Pacific market that our position is strengthened as a result of us becoming part of Avingtrans, including through strategic investments to improve our manufacturing and operating efficiency.

“Our current phase of development focuses on investing in our manufacturing technologies. Our aim is to push levels of accuracy, reliability, and performance of our pumps even further while at the same time manufacturing them in a way that is more energy efficient. Using more technically advanced machinery to manufacture our equipment will lead to faster set-up speeds, less operational downtime, and improved delivery times.

“We believe that in doing so we will strengthen our position at the forefront of the market and our ability to deliver the highest quality gear metering pumps in the world in a way that meets our customers’ specific objectives for decades to come.”

Slack & Parr will be exhibiting at ITMA Asia Hall 7 Stand 21

Posted: October 24, 2023

Source: Slack & Parr Ltd.

Santex Finishing Machines Offer Advanced Energy-Saving Solutions Providing Sustainability With Profitability

TOBEL, Switzerland — October 24, 2023 — Significant savings in energy consumption can be achieved by finishers through the use of innovative heating technologies from Santex. The ingenious heating and drying systems in Santaframe, Santashrink and Santasynpact machines deliver sustainable production with low CO2 values — along with notable cost savings. The three also share the benefits of great performance in productivity and finishing quality.

Santacompact RD – levelling, steaming and compacting calender.

Santex Rimar has been synonymous with technological excellence since 1982. A member of the multinational Santex Rimar Group, the Swiss company has a clear focus on saving water and energy as part of its commitment to sustainability. This philosophy also leads to reduced production costs for its customers, by promoting cost-efficient manufacturing with no compromise on the quality of finishing results. This article presents the evidence!

Air-flow technique is key

Santaframe is a high-performance tenter for top-quality processing of knitted and woven fabrics. Energy-saving innovations drive customers to sustainable production with low CO2 values. Unmatched low energy consumption is based on a new and unique air-flow technique with the Aero-Surf nozzle system. By directly using residual heat from exhaust air, the system saves even more energy.

Conventional energy-saving units use hot exhaust air to preheat the incoming fresh air via external heat exchangers. But the Santex Energy Saving Chamber (ESC) applies hot exhaust air directly to preheat the incoming moist fabric. Efficient use of energy is ensured by the air exchange in the ESC — proven by the reduced exhaust air temperatures at the exit point.

Installing Santex ESC ahead of Santaframe heating chambers results in energy savings of up to 25 percent by optimal use of residual heat from the exhaust air, fed into the ESC. As a result, the fabric is preheated without the need for extra heating power. The concept of using the material itself as a heat recovery medium is possible only through the unique solution for evenly distributed heating air and the exhaust air ducting integrated into the heating chamber.

In fact the ESC boosts productivity in finishing by up to 20 percent and the resultant fabric displays softer handle and better shrinkage values. This arises from the Santaframe air-flow technique, in which the fabric is conveyed on a cushion of air.

Two heat recovery systems

Santashrink Progress – tensionless shrinking and relax drying machine featuring three or more drying chambers.

The Santashrink machine is applied for shrinkage, relaxation and tensionless drying of tubular or open-width knitted fabrics. Combined with the ESC or Enairsave system, the drying process operates with significantly better energy savings — making Santashrink the most optimized drying process for sustainable textile finishing.

The use of two heat recovery systems has clear advantages. ESC reuses energy directly, while Enairsave works indirectly. By optimal use of residual heat from the exhaust air fed into the ESC, the fabric is preheated without extra heat energy needed, as with the Santaframe. Adding the ESC to a new or existing Santashrink lifts production capacity by up to 25 percent with the same input heating energy.

The Enairsave heat recovery unit is installed on the dryer exhaust duct. This system is based on an air-to-air heat exchanger, using a rotating heat-absorbing component. The rotating system, divided into two sections, is heated by exhaust air from the dryer and it then preheats incoming fresh air returning to the dryer. In this way, the energy consumption of the dryer is reduced by 20 percent.

The Santashrink series for tensionless drying is available in three versions to meet the requirements of drying capacity, available space and quality demands. These are the standard (single passage dryer), the jumbo version (double passage) and the super jumbo version (triple passage).

These Santashrink versions are the basis for the Santashrink Progress machine, specifically for open-width fabrics, which is usually equipped with three or more drying chambers and highly efficient padders. The technical and economical design of Santashrink Progress gives several application advantages for open-width fabrics, reflected in the excellent residual shrinkage results. These benefits make Santashrink the most requested dryer on the market.

Steam control in flexible width

Santacompact RD and Santasynpact are established as leveling, steaming and compacting calenders with extremely gentle fabric handling. Both the Santacompact RD open-width felt belt compactor and the Santasynpact sanforizer feature a high-performance V-steam box, which is connected to the guide rail to avoid steam distribution outside the fabric web. This results in a far more controlled process, and a 50-percent reduction in energy compared to conventional steam tables. Furthermore, the V-shaped steam box adapts to different fabric widths — and it is reported that Santex compacting machines provide the best dimensional stability for the finishing of high-quality open-width knitted fabrics.

Santex Rimar recently launched the three-zone felt belt compacting machine Santacompact RD Plus. The Plus denotes an additional larger compacting zone at the exit for open-width fabrics. This extra compacting zone achieves excellent residual shrinkage values, especially for structured fabrics such as Pique, Lacoste, Waffle etc. This is achieved in only one pass at high productivity rates, without smoothing the fabric structure. The machine can even process sensitive knits at speeds of 40 m/min or more.

Posted: October 24, 2023

Source: Santex Rimar Group

Longtime Rug Industry Executive Jesse Smith Capel Dies At 90

TROY, N.C. — October 23, 2023 — Jesse Smith Capel passed away on October 20 at the age of 90. Born on November 17, 1932, Capel graduated in 1954 with a bachelor’s degree in textile management from N.C. State University. He first served in the U.S. Army, then joined the family business, Capel Inc., in 1957, where he made significant contributions in the areas of finance, importing and manufacturing until his retirement in 2007.

Further service to business and community included roles on the boards of Virginia Episcopal School, a role he dedicated to the memory of his late son, J. Smith Capel, Saint Mary’s School, the Duke Heart Center, the Montgomery County Fund, Pfeiffer University, the N.C. Museum of History, the N.C. Museum of Art, and as chairman of FirstBancorp. Capel’s leadership also extended to the N.C. State Ports Authority, where he served as president of the State Ports Authority Foundation. His love for Scouting saw him serve as district chairman for Boy Scouts of America, for which he was awarded the Silver Beaver Award. He also was a former president of Troy Rotary Club.

Capel’s commitment to education and community growth was evident in his 16-year service as chairman of the Montgomery Community College Board of Trustees. As a member of Trinity United Methodist Church, Capel founded The Trinity Fund, a crisis assistance ministry, and held numerous leadership roles.

In 2010, Capel was honored for his service to the community with the Montgomery Fund Foundation’s Humanitarian Award.

Beyond his public service, Capel was a loving family man. He leaves behind his beloved wife of 68 years, Julianne Boone Capel, daughters Mary Clara Capel of Chapel Hill, Julie (Steve) Williams of Vero Beach, Florida, Sarah Kea Capel of Pinehurst, and daughter-in-law Elizabeth Capel of Atlantic Beach, along with ten grandchildren and four great-grandchildren. He also is survived by his brothers A. Leon Capel Jr. and Arron W.E. Capel and his sister Dr. Blanche Capel. Jesse was preceded in death by his son, Jesse Smith Capel Jr.

The Capel family name, synonymous with quality in North Carolina for over a century, reflects a rich tapestry of commitment to excellence, community and innovation. From the humble beginnings of “New Departure” braided rugs in 1917 to collaborations with major brands such as Sears, JCPenney, L.L. Bean and Pottery Barn, the Capel journey has been one of continuous evolution and growth. Jesse Capel’s contributions to this legacy are irreplaceable, according to company leaders.

Family and friends are invited to pay their respects during visitation hours from 5 to 7 p.m. on Wednesday, Oct. 25 at Bumgarner Funeral Home, 620 Albemarle Road in Troy.

A memorial service celebrating Capel’s life will be held at 11 a.m. on Thursday, Oct. 26 at Trinity United Methodist Church, 239 N. Russell St. in Troy. A reception will immediately follow the service, where friends and family can gather to share memories, pay tribute and offer condolences.

In lieu of flowers, donations can be made in Jesse Capel’s memory to The Trinity Fund at Trinity United Methodist Church-Troy.

Posted: October 23, 2023

Source: Capel Rugs

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