esquel group annual report

When Assistant Tang Xiaofang wanted to use a new lean approach to set up a different hangtag production line at Esquel's accessories team in China, her Well done! A. In addition, there will often be graphs or charts included, helping break down the financials into easily readable information. 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. digitGaps company research reports are written by our qualified research team, a dedicated group of analysts who knows the industry inside and out. 5,53 MB. With further communication and internal training, the team eventually saw a drastic boost to their production efficiency and performance. 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. We started this about ten years ago, and since then about 1500 households have benefited from the programme. The Esquel Group, a Hong Kong -based textile and a pparel manufacturer, sued the US Department of Commerce to secure relief from the "economic and reputational harms" caused by the listing, but a US federal judge refused to lift the trade restrictions. No credit card required. Legal Structure and Ownership: Synopsis on companys shareholders outlining the legal structure and ownership Few companies have taken that sentiment to heart more than the Esquel Group, a vertically integrated multi-national textile manufacturing company based in Hong Kong. An intro animation was created featuring their unique vertical integrated business model, from farming and processing cotton, all the way to stitching and developing high quality textiles. Accounting Mini-series. Many thanks to Lucy Cromwell and Jiwon Choi for kickstarting this fantastic opportunity and we look forward to making these reusable lunches more frequent! Apart from quarterly updates, all our reports are updated prior to delivery. Journalist coverage / News stories Among the initiatives introduced to benefit its supplier community, for instance, is a micro-financing programme for cotton farmers in the Xinjiang region of China. [5] The opening of China that year had according to one of Yang's daughters led to the decision to establish the company. Note: Some sections of this report may be missing if the data is not available for the company. Most of the times the information our customers are looking for is not readily available in an off-the-shelf market research publication. 3,63 MB. People think workers are workers, that they sit in front of a sewing machine and generate a product. The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. The company also has its own retail brands PYE and Determinant. Otto Group Annual Report 2021/22. digitGaps is presenting this report to you to understand companys key strengths, weaknesses, potential opportunities, and threats. The company was also mentioned in a draft bill introduced in the House and . But its focus is not on the cost of this labour, rather the productivity they can generate. We are thrilled to announce that Integral, Esquels Sustainable Development Garden in Guilin has received the Merit Award outside Hong Kong (Industrial/ Transport/ Utility Building Category) at the HKIA Annual Awards 2019/20! 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. million verified professionals across 35 million companies. 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. At Esquel, we prioritize investment in the growth and well-being of our employees. On-demand/custom research company analysis request can also be availed 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. Gary White, Business Materials Selector, Penn State University, Our Market Research = Your Smart Decisions, Esquel Group of Companies is one of the worlds largest producers of cotton shirts. 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. 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. 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 . Esquel Group's headquarters is located in London, England, GB W1U 3RF. Overview of key events: Company evolution including company history and key event Analysis of prospects, locations and subsidiaries Esquel Group's supply chain was first linked to Xinjiang in a May 2019 Wall Street Journal report. Challenges and threats from current competition and future prospects so that you can understand your competitors business structure and strategies and respond to them Secondary / Desk Research We are not trying to drive purely the input, we are trying to measure the output in order to create a workforce that is more sustainable.. [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. Should this video be a part of your PLM Materials Library in addition to the U3M file? Need a customized "Company Intelligence" or "Industry Research" report? So proud to be an ex Esqualler . Our report is a guide for you to get potential investments and acquisition targets. One year down the road this app has been used 16,936 times and has saved over 128,000 km travelled, 12,871 litres of gas and 29.6 tons of carbon dioxide emissions. Popular questions Work from Home Esquel is also developing and nurturing two of its own retail brands of high quality shirts - PYE and DETERMINANT.. Feb 24, 2023 (Alliance News via COMTEX) -- The Clothing Manufacturer Service market value was US$ $$ billion in 2021. View our 2022 Interim Report. We are especially trying to push Plunkett since all of our students have to do so much industry research and your interface is so easy to use. 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). The numbers show why. They will also be responsible for calibrating the machines like a technician.. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Civic Exchange Aims Organizations create impacts at various. Since then, the companies have been doing subcontracting for local manufacturers. So if retailers mark-down 25% (or more) it can easily be the same as the cost of all the labour and the materials combined. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . This report will also provide you with the target companys key financial metrics and ratios Koggala factory garment workers during a work stoppage in November 2021, Statement on the closure of two Sri Lankan factories amid severe financial crisis. STANFORD CASE STUDY (ESQUEL GROUP) 1. [12], Its operations in China like the rest of the textile industry in China have faced the constant pressure of rising labor costs and stricter environmental regulation. Plunkett Research Online is an excellent resourcethe database contains a wealth of useful data on sectors and companies, which is easy to search and well presented. Esquel Sri Lanka operates two additional facilities, Ekala and Kegalle. 25% OFF ON COMPANY REPORTS. Looking For Custom Company Research Report? Major deals are incorporated such as break of deals into categories and information which will assist your business research, 5. When we are looking at sustainability the first thing that comes to mind is people, Tung added perhaps not surprisingly given that the business employs around 55,000 workers globally, 40,000 of them in its garment manufacturing sites in China, Malaysia, Mauritius, Sri Lanka and Vietnam. Offering the education necessary to elevate these skills is also something Esquel has taken on board. Over the past year and a half, international brands have been ending their business relationship with EsquelSri Lanka because of US trade sanctions against its parent company, the Esquel Group, for its links to forced labour in Xinjiang, China. Lorem ipsum dolor sit amet consectetur adipisicing elit. Data Sources: But what we are trying to do is link the productivity improvement with the net take-home pay of our workers. Hong Kong-based Esquel Group, one of the world's largest shirtmakers, sued the US government on Tuesday, a year after a subsidiary was prohibited from buying US supplies over allegations it. The firms vertically integrated operation starts in China where it oversees cotton farms. #Esquel #makingadifference. #Esquel #MakingADifference #Lunarnewyear2023, Its great to meet our Esquelers after the holiday! Im amazed at how much information is available and the various ways to access it. Search over 700 The team has looked through the material and are very happy with the data you pulled together. Esquel Group is one of the few large textile manufacturing groups to do so. Fond memories remain of my time in Hong Kong . Defects dropped to almost zero while the compact U-shaped layout of the production line shortened the handling distance of a work piece from 240 meters to 5 meters, and overall production time was slashed from 6.4 days to 3.5 days. Request a price quote A Representative List of Organizations that Have Used our Research and Products: 100,000 Industry Statistics 500 Industries Analyzed for Market Size, Profits and Forecasts 150,000 Industry Executives Profiled 25,000 Companies Profiled, Ranked and Analyzed 1,000 Vital Trends Analyzed, totaling 1,000,000 words Basic Understanding the companys business segment expansion or their asset divestment #Esquel #MakingADifference #lunarnewyear2023, We are the true agent of change. - Assisted in determining 2017 Flight CO2 Emissions to be contributed to the Annual CSER Report - Energy tracking to Robert Redford Conservancy to achieve ILFI ZNE Certification - Project Coordination work for Google: Bay View . The company had requested permission from the Commissioner General of Labour to terminate the workers contracts. 927 were here. Companies product/service/brand portfolio analysis 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. 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. Jul 06, 2021, 12:00 ET. Fairmont PD001--552. View or download our Annual Report 2021-22, along with previous years reports showing our financial performance over the past 18 years. They are also calling onSri Lankas Commissioner General of Labour to provide reemployment guarantees for the workers who lose their jobs as a result of the factory closures. 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. The third panel invited long-time business leaders to share their experiences and insights regarding the role of corporations during these times of. As a knowledge-based innovation company, we believe our employees are our greatest assets. [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. Gain access to more than 1 million monopolized company profiles on a single platform Founded in 1978, Esquel Group has pursued growth over the years in line with its vision of Making a Difference, which guides its development toward two goals - tackling climate change and narrowing the wealth gap. Guilin, Guangxi, China - Researched energy-conscious initiatives to be . The Esquel Group is one of the worlds largest shirt manufacturers with a huge domestic market in China. Responsible Labor Report: 2022-2023 Franco Corrado, Jessica Gordon, Xavier Haranger, Katelyn Hilferty, Sabine Konrad, Todd Liao, K Lesli Ligorner, Sandra Moser, David Plotinsky, Carl Valenstein,. 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 and Economic Overview: Current financial and economic ratios consider past 5 years quarterly, semi-annual, annual financial statements [3], Its head office is in Harbour Centre[zh] (), Wan Chai. 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. Esquel is the world's largest maker of woven cotton shirts, providing major brands with more than 100 million every year, earning the company more than $1.3 billion in yearly revenue. Management Team: Names, Profiles, Information on key personnel managing the business, heading key departments and function with their employment history and executive biographies Copyright 2023 Civic Exchange. We provide quality employment and improve the livelihood of the communities in which we operate. 13,192 followers 1w Report this . The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. 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.. Esquel is a knowledge-based innovation company that continuously pushes for positive change in the textile and apparel business,. PDF. Do we constantly move from one location to another chasing low cost labour? Great team work & great achievements. Sign up for a free account. Come and meet our Esquelers in Integral! [8] In August 2021, Esquel was removed, with conditions, from the Entity List by the inter-agency End-User Review Committee, which is composed of representatives from the U.S. We provide you detailed insights of the companys strategic, financial and operational performance Even so, Ms. Tang stayed focused on her vision. Esquel is a manufacturer and supplier of apparels for men and women. Annual reports typically include financial statements, such as balance sheets, income statements, and cash flow statements. We care for our employees. Ideally, readers should be able to scan through the document and get the information they need. This report will provide you strategic intelligence category and opportunities for growth as well as global and regional market position Founded in 1978, Esquel Group has pursued growth over the years in line with its vision of Making a Difference, which guides its development toward two goals - tackling climate change and narrowing the wealth gap. 4. Given Esquel's history, in which parts of the supply chain is the group's core where it has the deepest knowledge and expertise? Looking for a "Syndicated, Qualitative or Quantitative Market Research Solution? Set in the scenic landscape of Guilin, Integral is our Sustainable Development Garden that showcased our commitment to sustainability. Esquel Group Limited manufactures textiles and apparel. 13Hong Kong, Hong Kong 999077 Hong Kong. It includes their financial performance and activities over the prior fiscal year. We typically pull content from a variety of sources including: SWOT Analysis: Company information detailing strengths, weaknesses, opportunities, threats, growth strategies, investments signal key strategic targets, challenges, and objectives This report contains Esquel Group Limited company and market share data which will help you understand the detailed picture of company's financial position. 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. 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. digitGaps Custom Research solution is tailored and optimized in a unique way to meet our customers specific needs. 7. When Esquel started tracking its energy and water consumption back in 2005, there was no industrial benchmark to follow, so it set out its own reference point based on the unit consumption it takes to produce one piece of garment. Finally, the visual style needed to be aesthetically uniform with the Esquel Group & Esquel Sustainability brand. But crucially, the company is also moving the goalposts on the traditional way of thinking about issues such as labour costs. Congratulations Margie to you and your team on this well-deserved recognition. 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. [2] Esquel supplies textile to companies such as Li Ning, ANTA Sports, Fila, Giordano, Muji. Teams of colleagues competed in the Fai Chun Writing Contest, which allowed them to unleash their creativity and strengthen their bonding in between. It will let you stay up to date on current happenings and major developments in order to capitalize on your competitors weaknesses 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. [11], Most of the company's manufacturing facilities are in China. I really appreciate the depth you were able to get to so quickly (for our project). Esquel Group is one of the few large textile manufacturing groups to do so. So if you can use less time, generate higher output, we are going to give you more money. Esquel's vertically-integrated operations, extended from cottonseeds to shirts, ensure the highest quality in every step of the apparel manufacturing process. WASHINGTON, July 6, 2021 /PRNewswire/ -- Today, Esquel Group, the Hong Kong -based textile and apparel manufacturer, has filed a lawsuit in the United States . Thanks for the opportunity for us to showcase our Esquel story. Registered in the State ofDelaware. . to allegations of forced labor. Annual Report View In PDF DIGITAL VERSION. Thank you to all who joined us in celebrating the Chinese New Year. The jury of the Awards praised Integral for its efforts to minimize impact on the natural surroundings and context and believed that the quality of Integrals internal working environment has set a high industry standard. Esquel Group 5 years 3 months Lean and Industrial Engineering Executive Jan 2019 - Mar 20212 years 3 months Amata IZ, Bien Hoa city, Dong Nai province, Vietnam Dual reporting to Factory Manager. Plunkett Research Online provides a great one stop shop for us to quickly come up to speed on major industries. In-depth analysis performed to produce this report will give you a clear and unbiased view of the company's strategy and growth prospects. Following our feature video from Guilin, Edgar Tung, incoming CEO of Esquel Group, announced Esquel's Pledge to Net Zero. Esquel Group ( Chinese: ) is a Hong Kong-based textile and apparel manufacturer. The case is still pending. Esquel Group recruited more than 150 college graduates, having engineering background, to the mangineer programme in 2015. Esquel is doing everything they can to close their facilities without paying workers in full, and to punish the unionized workers in the process. Our annual dinner in Hong Kong was successfully held last Saturday. Independent Consultant with significant experience in the Emerging Markets of Sub- Saharan Africa and Asia. Many of these workers have been employed by Esquel for decades. Lets go the extra mile with a year full of celebrations and breakthroughs for Esquel. In Esquels case, it is definitely the latter. Annual Report. SDG 7: Ensure access to affordable, reliable, sustainable and modern energy for all. Esquel had made a name for itself by making high-quality cotton Civic Exchange is a company with limited liability and a registered charity in Hong Kong. Esquel Group's goal is to. [12] The company has strategy of upgrading or opening new facilities with better automation to counter the competitive pressure of rising wages. Company offerings: Details on a list of companys major products/services/brands 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. Colleagues showed their talents through stunning performances. And thats not including the social aspect, such as low wages and poor working conditions. Our report will get you access to elaborate information on the companys financial deal which will help you understand key deals. As a total service and solution provider, Esquel differentiates itself from other manufacturers by investing in its people and innovative technology to ensure sustainable manufacturing 'from seed to . Teething issues such as inconsistent procedures and uneven cycle times per machine caused colleagues to grumble from the unstable workload. Buying this report will assist you to gain key insights into the happenings around companies business and academic research Departments of Commerce, State, Defense, Energy, and Treasury. Our office complex in Integral reimagined workspace built for teamwork and productivity. Key personnel information with biographies Once purchased, digitGaps client support team will deliver the report in PDF format.

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