Business

Huge Expansion Drive By MAS Holdings

Sri-Lanka-headquartered MAS Holdings, South Asia’s largest apparel and textile manufacturer, is on a significant expansion spree. Asia Indonesia is now one of the largest manufacturing locations outside Sri Lanka for MAS. The company expects to double its production capacity there by 2024. Currently, the company employs over 10,000 associates in Indonesia. Its lace manufacturing arm, Noyon Lanka, recently established a joint venture with PT Sinar Para Taruna (Sipatatex) Indonesia, adding to raw material capacity in the country, which already include bra cups, elastics and trims. In the Middle East, MAS recently opened its third manufacturing facility in Jordan and also has manufacturing capabilities in Amman, Madaba, and Dulayl. From these locations it is aiming to ramp up its supply of duty-free sports and performance apparel to customers in the US and EU. MAS also set up a new facility within the Chittagong Export Processing Zone in Bangladesh in 2021, enhancing its ability to supply lingerie to European markets by utilising trade concessions made available under the Generalised Scheme of Preferences (GSP). Similarly, a joint venture company, Linea Aqua, is geared to expand operations in Vietnam in 2022. The country has duty-free access to many large economies via the RCEP, including Europe, Australia and many Asian countries. India-for-India MAS is poised to double its production capacity in India by 2024. For the world’s second-most populated nation, the company can support brands that have adopted an ‘India-for-India strategy,’ focusing on sourcing entirely for the Indian retail market from within the country itself. Africa As part of its expansion in Africa, MAS will double the capacity of MAS Intimates in Kenya within the next two years, capitalising on opportunities stemming from the suspension of Ethiopia from the AGOA trade programme and losing duty-free access for its exports to the US. Sri Lanka The company has signed an agreement with the Sri Lankan Board of Investment to expand a number of its Sri Lanka based businesses, namely MAS Legato, Bodyline, Unichela and Trischel. Home to a community of over 115,000 people, its manufacturing plants span 15 countries, with established design locations placed in key style centres across the world.