MAS Holdings

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MAS Holdings
Native name
ඇම්.ඒ.එස්. හෝල්ඩින්ග්ස්
FormerlySigma Industries
(1984 – 1987)
TypePrivate
IndustryApparel & Textile
Founded1987; 36 years ago (1987)
in Panadura, Sri Lanka
FoundersMahesh Amalean
Sharad Amalean
Ajay Amalean
HeadquartersColombo, Sri Lanka
Areas served
16 countries
Key people
Deshamanya Mahesh Amalean (Chairman)
Sharad Amalean (Deputy Chairman)
Ajay Amalean (Co-Founder)
Suren Fernando (CEO)
ProductsIntimate wear
Sports and active wear
Performance wear
Textiles
IT
Brands
Industrial parks
Swimwear [1] amantè, Become (clothing), Spryng
RevenueUS$ 2 Billion [2] ( 2018 )
Number of employees
99,000+ [2] ( 2019 )
SubsidiariesMAS Intimates (Pvt) Ltd
MAS Active (Pvt) Ltd
MAS Kreeda (Pvt) Ltd
MAS Brands (Pvt) Ltd
attune Consulting
Bodyline (Pvt) Ltd
Websitemasholdings.com

MAS Holdings is South Asia’s largest manufacturer of lingerie.[3][4][5] The company was founded in 1987 by Mahesh, Sharad and Ajay Amalean.[6] MAS Holdings began as an intimate apparel manufacturer and later diversified into sportswear, performance wear and swimwear.[7][8]

MAS Holdings has 53 manufacturing facilities in 17 countries employing over 93,000 people globally. The company has design and development hubs in New York, London, Hong Kong and Colombo.[7]

The company manufactures apparel accessories, fabric and apparel manufacturing. MAS Holdings’ current portfolio encompasses businesses in IT, brands and industrial parks.

History

Early ages

1980s to 1990s

In 1984, They pooled US$10,000, bought 40 sewing machines and founded an apparel company named Sigma Industries.

In 1986, MAS formed its first joint venture with MAST Industries, to manufacture women’s synthetic dresses.

2000s

In 2000, MAS launched its first in-house intimate apparel brand, amantèin India.[9][10]

In 2004 when Nike formed a strategic partnership with MAS Holdings.[11]

In 2007 and 2008, MAS holdings opened Fabric Parks in Sri Lanka and India.

In 2008, MAS Holdings unveiled Thurulie, the world’s first carbon neutral, eco-manufacturing apparel plant.[12]

2010-Present

MAS opened up facilities in Killinochchi, northern Sri Lanka, to provide employment opportunities.[13]

Global Operations

After 2010, MAS Holdings gradually began expanding globally, opening manufacturing facilities in Bangladesh, Indonesia, Honduras, Jordan, Vietnam and USA.[14][15]

Expansion

In 2016, the company announced its investment into manufacturing facilities in Caracol Industrial Park, Haiti.[16] In 2017, the company acquired Acme-McCrary as its first manufacturing and development centre in Asheboro, USA.[14]

Key Business Units

Apparel Manufacturing

Intimate Wear (MAS Intimates and Bodyline)

MAS Intimates - includes bras, briefs and corsetry. Through MAS Design and its design and development centres in Asia, America and UK, the company works with its customers from the initial concept development process. In 2011, MAS partnered with Marks and Spencer to create what was promoted as the world’s first carbon neutral lingerie product range for the UK High Street.[17]

Dedicated Sportswear (MAS Active and MAS KREEDA)

MAS Active - Established in 2005, MAS Active is a provider of sportswear, athleisure and men's essentials (T-shirts, underwear, and boxers). MAS Active manufactures performance wear (sports bras, performance bra tops and pants, yoga wear), sleepwear and "lifestyle wear" (hoodies, T-shirts, pants, jackets). As of September 2017, MAS Active consisted of multiple operation centers, a design and innovation studio, 6 factories in Sri Lanka and overseas ventures in Haiti, Italy and USA.

MAS KREEDA derives its name from the Sanskrit word for sports and is MAS Holdings’ exclusive partner for Nike. MAS KREEDA has 14 manufacturing facilities across Jordan, India and Sri Lanka and was launched in 2017.

Swimwear (Linea Aqua)

MAS Holdings partnered with Speedo International (UK) and Brandot International (USA) in 2001, to form Linea Aqua. Linea Aqua has manufactured competition swimwear for Speedo for the 2004 Athens Olympics and 2006 Melbourne World Championships.[18]

Twinery - Innovations by MAS

Twinery-Innovations by MAS (formerly known as MAS Innovation) was formally launched in 2013 and is a formal cohesion of the fragmented research and development divisions within the organization. The company develops its own products through in-house teams.

At the wearable technologies show in San Francisco in 2017, MAS unveiled ‘Firefly’, the result of a collaboration with Flex to integrate IoT into clothing. The smart clothing embeds a series of flashing LED lights in an attempt to provide better safety measures for runners, cyclists and construction workers.[19]

MAS Innovation has partnered with international universities such as Massachusetts Institute of Technology[20] and Stanford University[20] as well as Sri Lankan universities to research on areas such as wearable technology, health, wellness, digitization, and customization.[21]

MAS Brands

amantè, an MAS-owned lingerie brand designed for South Asian women, was launched in India in 2007.[22] amantè was subsequently launched in Sri Lanka in 2012[23] in Pakistan in 2016 and in Maldives in 2017.

In November 2014, MAS Brands gained controlling stake of Ultimo, a Glasgow headquartered designer lingerie brand.[24]

MAS Fabric Parks

MAS Holdings has established two fabric parks – one in Thulhiriya, Sri Lanka and another in Chennai, India. MAS Fabric Park, India was a joint venture partnership on a 737-acre area, located close to the Krishanapatnam Seaport and Chennai airport.[25]

The MAS Fabric Park in Thulhiriya was Sri Lanka’s first privately owned apparel intensive free trade zone.[26] The eco-friendly fabric park in Thulhiriya spans 165 acres and provides employment to 8,200 associates.[26]

In 2017, the company announced the launch of a new industrial park in Giriulla, Sri Lanka.[26] The abandoned lace facility, which was shut down for twelve years, was handed over to MAS Holdings to develop and run, by Prime Minister of Sri Lanka, Ranil Wickremesinghe.[27]

Sustainability

Social Sustainability

MAS Holdings were among key players in the Sri Lankan apparel industry to open manufacturing units in rural areas, moving away from cities. As a result, MAS Holdings worked closely with the communities it was based in. MAS Holdings was also one of the first Sri Lanka-based conglomerates to provide employment opportunities in Northern Sri Lanka after the conclusion of Sri Lanka’s civil war.[13]

In 2003, MAS launched an in-house programme named Women Go Beyond, designed to encourage and recognize female achievers, community leaders and sportswomen within the organization.[11] Founder, Mahesh Amalean, was recognized with a U.N. award at the inaugural women’s empowerment principles awards in 2013 for MAS’ efforts to advance female empowerment.[28] In 2017, MAS Women Go Beyond partnered with the UNFPA in Sri Lanka to identify and address gaps and gender inequalities in the working environment.[29]

Environmental Sustainability

As of 2016, 41% of the company’s operations run on renewable energy.[30] In 2008, Thurulie, the world’s first clothing factory powered solely by carbon-neutral sources, was rated LEED Platinum by the U.S. Green Building Council.[12]

MAS’ Great Brick Project at MAS Fabric Park, Thulhiriya, converts sludge to eco-bricks and was a long-term solution to achieve zero landfill, addressing the problem of ETP sludge and effluent waste in the apparel industry. In 2015, 600 tonnes of ETP sludge was converted into 70,000 bricks and used for the group’s landscaping facilities.[31]

References

  1. ^ http://www.masholdings.com/archive_17A/Mar07_1488908462CH.php[dead link]
  2. ^ a b "Leading Apparel Manufacturer in the World".
  3. ^ Kanth, K. Rajani (5 November 2007). "MAS Holdings bullish on own intimate wear brand". Business Standard India. Business Standard. Retrieved 2017-09-05.
  4. ^ "Finance transformation: A case study of MAS Active". Daily FT. Retrieved 2017-09-06.
  5. ^ "amanté to strengthen exclusive store network with 25 new outlets over 2 years". India Retailing. 23 August 2017. Retrieved 2017-09-07.
  6. ^ "Anusha's Caribbean dream". Sunday Times. Retrieved 2017-08-01.
  7. ^ a b "MAS Holdings: Strategic Corporate Social Responsibility in the Apparel Industry". INSEAD. Retrieved 2021-04-24.
  8. ^ "Get your green pants here". The Economist. 29 May 2008.
  9. ^ "MAS Holdings". Sri Lanka Export Development Board.
  10. ^ "Speedo swimwear in joint venture with MAS holdings global". The Economic Times. Daily News Sri Lanka.
  11. ^ a b "Market Movers: Lessons from a Frontier of Innovation" (PDF). International Finance Corporation and Sustainability (2007). Retrieved 2017-07-12.
  12. ^ a b "Five Of Sri Lanka's Best Green Buildings". Roar Reports.
  13. ^ a b Anand, Geeta (17 May 2016). "Rebuilding Lives, and Homes, Shattered by Sri Lanka's Civil War". The New York Times.
  14. ^ a b "Acme-McCrary sale: A 'win-win' for Asheboro". The Courier Tribune.
  15. ^ "Sri Lanka's MAS Holdings to set up units in Haiti". Apparel Resources.
  16. ^ "Sri Lanka's MAS Holdings announces opening a plant in Haiti". Colombo Page.
  17. ^ "World's first carbon neutral bra". Telegraph.
  18. ^ "MAS Holdings" (PDF). Super Brands.
  19. ^ "FIREFLY, THE FIERY CLOTHES OF THE FUTURE". ReadMe.
  20. ^ a b "MAS Holdings obtains high tech patent from SLINTEC". Daily News.
  21. ^ "MAS working to build capacity for apparel industry". Daily Mirror.
  22. ^ "MAS lingerie brand tackles Indian market". Just-Style. Retrieved 2017-08-06.
  23. ^ "Amante Premium Lingerie For The Sri Lankan Woman". Business Today. Retrieved 2017-08-06.
  24. ^ "Michelle Mone announces Ultimo stake sale". BBC News. 3 November 2014. Retrieved 2017-08-06.
  25. ^ "MAS Holdings expands into India with apparel park". Lanka Business Online.
  26. ^ a b c "MAS launches second Industrial Park in Sri Lanka". The Island.
  27. ^ "MAS to boost Lankan exports with $ 28 m investment in Fabric Park in Giriulla". DailyFT.
  28. ^ "With 550 Corporate Champions, Women's Empowerment Principles Drive Critical Private Sector Change to Advance Gender Equality and Inclusion". Women's Empowerment Principles.
  29. ^ "MAS joins hands with UNFPA to ensure gender-mainstreamed corporate policies". UNFPA Sri Lanka. 7 March 2017.
  30. ^ "MAS solar solution at Nike dedicated plant in Sri Lanka". Just-Style.
  31. ^ "MAS is winning the war on sludge – one brick at a time". DailyFT.

External links

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