Esquel harnesses technology to transform its operations and commercialize its innovations. Mergers and Acquisition/Deals & Alliances/ Partnerships & Investment: Information on historical, current/projected merger and acquisitions, deals, partnerships, alliances and investments By way of explanation, he sets out some alarming numbers. SWOT Analysis: Company information detailing strengths, weaknesses, opportunities, threats, growth strategies, investments signal key strategic targets, challenges, and objectives At this point surely the recruitment team need to be fired? digitGaps Custom Research solution is tailored and optimized in a unique way to meet our customers specific needs. The numbers show why. Esquel is doing everything they can to close their facilities without paying workers in full, and to punish the unionized workers in the process. In seeking support for this Study, Civic Exchange aimed to work with organisations that have already taken positive steps towards sustainability so that these efforts could be examined and shared with a wider audience. The concept of sustainability has become more familiar in Hong Kong but the discussion of how organisations can become more sustainable in terms of economic, environmental and social performance is still at an early stage. Phone: 852-2811-8077Fax: 852-2960-6988Address: 25 Harbour Rd., Harbour Center, Fl. The case is still pending. Request now, Explore subscription: 1.5 million+ company and industry intelligence reports, Esquel Group Limited Business Description, Esquel Group Limited Industry Classifications, Esquel Group Limited Number of Employees, Esquel Group Limited Other Locations (domestic and international), Esquel Group Limited Current and Pending Investors, Esquel Group Limited Major Products and Services, Esquel Group Limited Company Tree / Company Hierarchy, Esquel Group Limited Legal Structure and Ownership, Esquel Group Limited Corporate Timeline, Esquel Group Limited Corporate Strategy, Esquel Group Limited SWOT Analysis - Overview, Esquel Group Limited Competitive Positioning, Esquel Group Limited Business Descriptions of Competitors, Esquel Group Limited - Key Executives Biographies, Esquel Group Limited - Board Members Biographies, Esquel Group Limited - Key Operational Heads, Esquel Group Limited Current Capitalization, Esquel Group Limited Capital Market Ratios, Esquel Group Limited Mergers and Acquisitions, Esquel Group Limited Deals and Alliances, Esquel Group Limited Partnerships and Investments, Esquel Group Limited Deals by Year (YTD), Esquel Group Limited Deals by Type (YTD), Esquel Group Limited Deals by Region (YTD), Esquel Group Limited Deals by Sub-sector (YTD). I think this is going to be the trend going forward: how to develop credible means of improving productivity rather than just looking at it as a cost. View or download our Annual Report 2021-22, along with previous years reports showing our financial performance over the past 18 years. The firm's vertically integrated operation starts in China where it oversees cotton farms. TER, un acronyme d'actualit quand nos consciences nous appellent prserver la . Esquel Group's supply chain was first linked to Xinjiang in a May 2019 Wall Street Journal report. Legal Structure and Ownership: Synopsis on companys shareholders outlining the legal structure and ownership Founded in 1978, Esquel was privately owned by the Yang family and had become one of the world's largest cotton-based textile and apparel manufacturing companies, producing more than 100 million shirts annually since 2012. Over the course of the past 10 years weve managed to reduce the energy consumption by 45% per piece of garment produced; and reduced the water consumption overall by 64%.. Company share by region and sector, and company structure Approximately 1,500 workers employed at two factories Koggala I and II - owned by Esquel Sri Lanka are facing imminent closure of their workplaces with no assurance that they will be reemployed when the factories are sold to another company. So if you can use less time, generate higher output, we are going to give you more money. 5,53 MB. See the answers, explore popular topics and discover unique insights from Esquel Group employees. #Esquel #MakingADifference #sustainability, Usher in the Lunar New Year! [11], Most of the company's manufacturing facilities are in China. #Esquel #MakingADifference #Lunarnewyear2023, Its great to meet our Esquelers after the holiday! Also part of Esquels vision going forward is that the amount of direct labour will be significantly reduced, replaced by a group of skilled technicians with better education, better ability to interact with machines, and a better understanding of quality. The company also has a collection of plant-based natural dye products that reduce chemical usage by 60%, water by 43%, and steam by 41%, it says. Esquel Group Careers and Employment | Indeed.com Once purchased, digitGaps client support team will deliver the report in PDF format. Delicious food from Seoul Bros as always Esquel Group ( Chinese: ) is a Hong Kong-based textile and apparel manufacturer. Esquel Group | LinkedIn Annual reports typically include financial statements, such as balance sheets, income statements, and cash flow statements. And thats not including the social aspect, such as low wages and poor working conditions. Financial Reports. Independent Consultant with significant experience in the Emerging Markets of Sub- Saharan Africa and Asia. Feb 24, 2023 (Alliance News via COMTEX) -- The Clothing Manufacturer Service market value was US$ $$ billion in 2021. While producing this report, we have followed a standardized research methodology which assures our data quality and authenticity. Major deals are incorporated such as break of deals into categories and information which will assist your business research, 5. Many of these workers have been employed by Esquel for decades. Download a "Company Intelligence" sample report. US judge rejects Esquel Group's request to remove Xinjiang unit from 13Hong Kong, Hong Kong 999077 Hong Kong. All pre-sales and post-sales queries are addressed by our analyst The traditional retail price is usually marked up four to eight times at the consumer level, so assuming a shirt sells at a retail price of US$140, the true cost of $25 includes manufacturing, raw materials, labour, duties and transportation, logistics. Challenges and threats from current competition and future prospects so that you can understand your competitors business structure and strategies and respond to them No credit card required. The ideas of environmental management, industrial ecology and ecological footprint have been proposed to allow for a meticulous look to the products that we manufacture and use, with emphasis on measuring the ecological impacts in hopes of reducing them. Esquel has a team of around 100 people doing nothing but creating automation machines for our different factories, Tung revealed, tackling challenges that include how to use a robot to grab a piece of soft fabric, or aligning different stripe or check patterns. Colleagues showed their talents through stunning performances. The next thing we are doing with these cotton farmers is teaching them online banking, so instead of giving them cash when they sell us the cotton, we are transferring the money online.. At its largest manufacturing site at Gaoming in Chinas Guangdong province, we are constantly increasing the net take-home pay of our workers, but at the same time were reducing the working hours. There are also companies nearby wanting to use the app, so we are opening this platform to other companies., Talking about apps, we actually have factory workers writing mobile apps, and have received over 1,000 applications for different ideas., As well as focusing on people and the planet, we also think it is very important to look at the product we develop., Take a T-shirt: the bleaching process uses a lot of chemicals, but since we are producing our own cotton and yarn, if we carefully select the cotton fibres that are whiter in colour we can actually reduce the bleaching process.. Journalist coverage / News stories Secondary / Desk Research Speaking at this years Innovation and Technology Symposium organised by the Hong Kong Research Institute of Textiles and Apparel (HKRITA), Tung explained that when dealing with sustainability it is important to look at the entire supply chain rather than just one part, as well as considering both the social and environmental impacts. The textile and clothing industry is the second largest polluting industry in the world after oil; it takes 5,000 gallons of water to produce a T-shirt and pair of jeans; 2.5bn tons of wastewater is generated annually by the industry in China alone; the sector accounts for 17-20% of the worlds industrial pollution; and 12.8m tons of textile waste is discarded each year. Annual Report Explained: How to Read and Write Them - Investopedia Access to single report without subscription allows our clients to meet their requirements with a limited budget LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Annual Report - Overview, Contents, Types of Users Edgar Tung - Hong Kong, Hong Kong SAR | Professional Profile | LinkedIn But our view is that workers will one day become technicians; they will be operating multiple machines, and they will also be responsible for quality because were not going to have any more QCs to check their work. This report will also provide you with the target companys key financial metrics and ratios The data may be indicating institutional weaknesses in Jamaica as expressed by Duncan-Waite, and Woolcock has contributed to the political instability as seen in Fig. Approximately 1,000 workers who agreed to resign have filed a legal case against the company with the labour authorities. We care for our employees. #Esquel #MakingADifference #lunarnewyear2023, We are the true agent of change. Entering a new mode of production was challenging, but I felt driven to excel in it, Ms. Tang said. This report provides a case study of The Esquel Group (EG), a prominent, Hong Kong-based textiles and garments manufacturer. The closures are taking place at a time of severe economic crisis in Sri Lanka in which people, including garment workers, are facing a rapid rise in their cost of living, shortages of electricity, food and other necessities, and a declining value of the national currency. Esquel Group Careers and Employment About the company Founded 1978 Industry Manufacturing Esquel Group website Learn more Questions and answers People have asked 2 questions about working at Esquel Group. Do you think this impacts the way the group is . Lorem ipsum dolor sit, amet consectetur adipisicing elit. Winston Szeto - Senior Manager, APAC Digital Experience Analytics Plunkett Research Online provides a great one stop shop for us to quickly come up to speed on major industries. From there, we created the first natural dye garden in China. Again citing its flagship location in Gaoming, Tung explained how a dearth of parking space for the 20-25,000 people working in the spinning mill, weaving, knitting and garment factory has led to the development of a Carpool app that encourages workers to share a car on their way to work or within the premises. Founded in 1978, Esquel Group has grown to become one of the largest cotton-shirt maker and exporter in the world. Its efforts have also paid off with the company this month being ranked as having the second greenest textile supply chain in China, behind LeviStrauss and the fourth greenest across all sectors. Otto Group Annual Report 2020/21. Esquel Group Thanh Metta - Ho Chi Minh City, Vietnam - LinkedIn Esquel is a manufacturer and supplier of apparels for men and women. If you can't read this PDF, you can view its text here. The firms vertically integrated operation starts in China where it oversees cotton farms. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Esquel Group has an estimated 201 employees and an estimated annual revenue o. digitGaps is presenting this report to you to understand companys key strengths, weaknesses, potential opportunities, and threats. Understanding the companys business segment expansion or their asset divestment The team has looked through the material and are very happy with the data you pulled together. 'Mangineer' concept keeps Esquel Group 'lean' and 'agile' To view this article you need a PDF viewer such as Adobe Reader . Here are some pointers for a good annual report design: Use headings and subheadings. With 57,000 employees across the globe and state-of-the-art production facilities in China, Malaysia, Mauritius, Sri Lanka and Vietnam, Esquel manufactures over 100 million . We typically pull content from a variety of sources including: Detailed view of Business and Operations: Company description will give you detailed information regarding companys businesses, its divisions, and operations A special showcase is Integral, our sustainable development garden in Guilin. Esquel Group - Home - Facebook Request Custom Company Research Report Here: https://digitgaps.com/custom-research/. ESOP. Subsidiary of world's largest shirtmaker put on U.S. blacklist over This is the model were trying to aim for: were going to use less people, were going to use people who are better educated, were going to have zero discharge, and were going to use a lot of automation and data to try to create value., Apparel sourcing and textile industry news & analysis, Inflation hits Vietnams apparel, footwear sectors as China reopens, Two years post-military coup: Myanmar garment sector battles instability, poverty, Can the EU garment sector survive the energy crisis challenge, Kelheim Fibres, Recycling Atelier Augsburg team to drive green fibre development, AAFA, IAF sign MoU for industry collaboration, Texworld sourcing show heads to Los Angeles, ETI backs IndustriALL framework for responsible Myanmar exit, Higg Brand & Retail Module revamped to accelerate industry green transition, Modern Meadow, Singtex team on sustainably developed outdoor wear, Australian PE firm Anchorage Capital acquires David Jones from Woolworths, Global Fashion Group exits Russia following Lamoda sale, Leading digital transformation software providers for the apparel industry, Leading artificial intelligence (AI) companies for the apparel industry, Leading cloud computing companies for the apparel industry, second greenest textile supply chain in China, Delivery Innovation in Apparel - Thematic Research, Wearable Technology in Apparel - Thematic Research, Strategic Focus Report Communications & Collaboration, Strategic Focus Report: Communications & Collaboration, The Hong Kong Research Institute of Textiles and Apparel Limited, Inflation hits Vietnam's apparel, footwear sectors as China reopens, Top opportunities for manufacturers in the fashion industry today. For more details, please read the article here. Looking for a "Syndicated, Qualitative or Quantitative Market Research Solution? As an industry we have a bad reputation when it comes to sustainability, says Edgar Tung, managing director of Esquel Group, the worlds largest woven shirt maker. Devote space to photographs, infographics and other compelling visual elements. Company Overview. But what we are trying to do is link the productivity improvement with the net take-home pay of our workers. Esquel Group Limited manufactures textiles and apparel. Annual reports typically include information regarding its future . What is an Annual Report? | LegalZoom Other costs are raw materials (25%), processing (30%), overheads and back office (20%). This ensures that all the latest information is captured to enable you to make informed decisions This process has been going on for over 1.5 years, and now is the time for all the other actors engaged to step up and make sure an agreement is negotiated with the FTZ-GSEU, says Ineke Zeldenrust, Clean Clothes Campaign International Coordinator. United States District Court for the District of Columbia, "100m shirts and counting: Textile maker Esquel embraces technology to cut costs and protect the environment", "This Clothing Company Has Close Ties To Xinjiang, Where Forced Labor Is Rampant", "How the Esquel Group unexpectedly ended up all in the family", "Subsidiary of world's largest shirtmaker put on U.S. blacklist over Xinjiang ties", "Commerce Department Adds Eleven Chinese Entities Implicated in Human Rights Abuses in Xinjiang to the Entity List", "Esquel Group sues US over subsidiary's inclusion on 'entity list', "Nike's former supplier Esquel Group scores a rare win in a bid to remove Xinjiang unit from US forced-labour sanctions list", "15 CFR Appendix Supplement No. esquel-report[1][1].4july by Civic Exchange - Issuu Should this video be a part of your PLM Materials Library in addition to the U3M file? The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. Esquel Group (Hong Kong) Launching a Sustainable Mask Amidst a Public Health Crisis January 2021 Extraordinary Endeavors in Turbulent Times: Asian Innovation, Inclusion, and Impact during COVID-19 A Joint Report by the Asia Business Council and the Hong Kong University of Science and Technology Other case studies in the series Guilin, Guangxi, China - Researched energy-conscious initiatives to be . Our company profiles assist you to formulate strategic analysis in order to understand your customers, partners, and competitors, enabling you amplify your business better. Were developing an eco-friendly facility that demonstrates Industry 4.0 with automation and advanced use of data, but will also be a tourist destination too, Tung explained. digitGaps company research reports are written by our qualified research team, a dedicated group of analysts who knows the industry inside and out. Yang believes the most. All our reports come with 10% customization at no extra cost People think workers are workers, that they sit in front of a sewing machine and generate a product. Esquel Group Sues Department Of Commerce Over Erroneous Inclusion On U Search over 700 Corporate websites Our annual dinner in Hong Kong was successfully held last Saturday. Even so, Ms. Tang stayed focused on her vision. Need a customized "Company Intelligence" or "Industry Research" report? Departments of Commerce, State, Defense, Energy, and Treasury. Esquel manufactures mor..See More, How to Use Plunkett Research Online-12 Minutes, By Using this Site You Agree to these Terms of Use. Our report will get you access to elaborate information on the companys financial deal which will help you understand key deals. Each Sustainability Pillar was specifically color and pattern coordinated., WeSuperseed combined the concept of line art and Traditional Chinese painting as an extension of the company visual identity, to accompany the factual content of the annual report a juxtaposition of their modern developments while maintaining their heritage.. STANFORD CASE STUDY (ESQUEL GROUP) 1. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Esquel directly employs around 55,000 people across the world but, adding in their family members, the company estimates between 100,000 and 200,000 people areimpacted by its actions. Esquel Group on LinkedIn: #esquel #makingadifference #45thanniversary # Wendy Stotts, Manager, Carlson Companies-Information Center. When it comes to environmental impact the planet pillar of its strategy Esquel claims to have invested over US$150m over the last ten years in managing its water and energy consumption, including a wastewater treatment plant that processes more than 5,000 tons of water every day. Esquel Group is one of the world's leading producers of premium cotton shirts, with production facilities in China, Malaysia, Vietnam, Mauritius, and Sri Lanka, and a network of branches servicing key markets worldwide. Copyright 2023 Civic Exchange. Esquel is investing more than CNY2bn (US$313.9m) on building a new spinning mill and garment manufacturing facility at picturesque Guilin in Guangxi province, which is due to begin operation next year. Most of the times the information our customers are looking for is not readily available in an off-the-shelf market research publication. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . The approximately 2,000 workers at these facilities also face unsure futures as both leases run out by end of this year. Information on new product development/services as well as marketing and distribution strategies, 4.2 Esquel Group Limited SWOT Analysis profile will help you gain knowledge upon: Lorem ipsum dolor sit amet consectetur adipisicing elit. Between the quality and affordability of your product, its appeal to and value for our users, and the inestimably ethical and loyalty-guaranteeing conduct of your business, I will always have more than sufficient praises to sing for Plunkett Research. digtiGaps 2018. Many thanks to Lucy Cromwell and Jiwon Choi for kickstarting this fantastic opportunity and we look forward to making these reusable lunches more frequent! [9][10] Several weeks later, Esquel resumed its lawsuit after failing to reach an agreement with the U.S. Commerce Department regarding the timetable for removal and the specifics of the conditions for removal. In Esquels case, it is definitely the latter. 2002 Research Report - Civic Exchange Tammy Dalton, National Account Manager, MCI, Tammy Dalton. But its focus is not on the cost of this labour, rather the productivity they can generate. Right from company SWOT analysis, financial insights to merger and acquisitions/deals details are available in our single report Your leadership and example in helping to protect our environment while creating a space for the public to relax and appreciate mother nature is commendable. This report will provide you strategic intelligence category and opportunities for growth as well as global and regional market position Esquel Integral Project | Shared Value Initiative Hong Kong Esquel (Mauritius) Ltd has a manpower of 2710 comprising of both local and foreign employees from Bangladesh, Madagascar, Nepalese, Sri Lankans, Malaysians and Indian. The carbon footprint analyses of our proprietary assets and the EU Taxonomy disclosures have been incorporated in the Annual Report as of this year. . Through our company profiles, you can recognize potential partners and suppliers. Backed by over 40 years of experience, each business group adheres to our net zero pledge, and our commitment to our vision of Making a Difference through tackling climate change and narrowing the wealth gap. WASHINGTON July 6, 2021 Today, Esquel Group, the Hong Kong-based textile and apparel manufacturer, has filed a lawsuit in the United States District Court for the District of Columbia seeking relief from the economic and reputational harms caused by the placement of its subsidiary, Changji Esquel Textile Co. Ltd., on the U.S. 2. SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Ces valeurs sont T ransparence, E xcellence et R entabilit. I really appreciate the depth you were able to get to so quickly (for our project). A big thank you to our partners in this wonderful project, including the architecture firm Ronald Lu & Partners for helping us materialize Esquels commitment in sustainable development through their outstanding architectural design. - Planning and developing merchandising strategies - Preparing quarterly sales report, buying and capacity analysis. Crocs, Inc. proudly reported record annual revenues of $3.6 billion, growing 54 percent over 2021. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . Analysis of prospects, locations and subsidiaries While there are hundreds of freely available sources of business information, the quality and completeness of this information vary, and it is often difficult and time-consuming to pull together information from these sources. Financial Year 2021-22. The average loan amount is CNY15,000 (US$2,254) and there have been zero defaults since its launch. million verified professionals across 35 million companies. 927 were here. Group annual report - Risk and governance report PDF (5.11 MB) Group annual report - Annual financial statements PDF (4.71 MB) Group annual report - Remuneration report PDF (4.69 MB) Investec Group sustainability report PDF (11.79 MB) Investec Limited annual report . Against this backdrop, the Hong Kong-based textile and apparel giant has made it its mission to weave sustainability into its core values, and across a vertical supply chain that spans every step from cotton farming, through spinning, weaving and knitting, to apparel making, accessories and packaging, retail and distribution. 4. Esquel Group Integrating Business Strategy and Corporate - Case48 Outlook for Future Years. 9.3 might be a plausible reason for the disparity in economic growth as the data suggest that Mauritius has been more politically stable and has more . Annual reports Esquel Group of Companies - Plunkett Research, Ltd. Esquel Group, one of the world's largest garment producers and supplier for such brands as Tommy Hilfiger, Patagonia and Nike, said it has written to the US Commerce Secretary Wilbur Ross to. Using fewer but more skilled workers, increasing productivity, investing in robotics and automation, micro-financing cotton farmers, and even selecting the whitest cotton fibres to reduce the bleaching process are among the initiatives outlined by managing director Edgar Tung. Civic Exchange is a company with limited liability and a registered charity in Hong Kong. There is a call for computer vision. In-depth analysis performed to produce this report will give you a clear and unbiased view of the company's strategy and growth prospects. It determines the business's reach to the target market and ensures the easy accessibility. WeSuperseed created a heavily custom designed website layout. [5], In July 2020, the United States Department of Commerce placed a Hong Kong-based subsidiary of Esquel Group on the Bureau of Industry and Security's Entity List for alleged use of forced labor of Uyghurs in Xinjiang. The company's operations are vertically integrated, from producing cotton, buttons, and packaging to design and manufacturing. Under pressure from management, some of the workers agreed to sign voluntary resignation agreements with the understanding that they would receive more than their legal entitlement as promised by the company in writing, but with no financial details provided to justify the closure. The geographic presence in different regions can act as one of the major strength of the organisation. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Hong Kong's independent public policy think tank. We had the privilege of working with them to revamp their annual Sustainability Report website. This report will also present the historical, current and projected merger and acquisitions, financial analysis, deals and alliances, partnerships and investments of the company, news, competitors, and key executives profiles. The rating from the Corporate Information Transparency Index (CITI) evaluates the environmental performance of international brands selling and sourcing in China, with the ultimate goal of guiding consumers into making green choices. We provide you detailed insights of the companys strategic, financial and operational performance
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