esquel group annual report

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. The approximately 2,000 workers at these facilities also face unsure futures as both leases run out by end of this year. Hong Kong-based textile and apparel giant Esquel Group 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 to retail. It determines the business's reach to the target market and ensures the easy accessibility. Esquel offered its clients 1000 different fabrics annually The company made a substantial investment in innovations, to create new designs and fabric. They report that some major employers in the sector are already refusing to hire former Esquel workers affiliated with the Free Trade Zones & General Service Employees Union (FTZ & GSEU). Deals mentioned in our company research report will help you understand corporate strategy from the companys core business segment perspective When expanded it provides a list of search options that will switch the search inputs to match the current selection. Wendy Stotts, Manager, Carlson Companies-Information Center. It is our honor to have received the "Top 10 Happiest Company to Work for Award" and the "CHO People Transformation Award" in the #CHOAppreciationAwards2022. There was an inspiring and insightful session shared by Marjorie, our Chairman, in her discussion with Professor Christopher Tang, Faculty Director of UCLA Anderson School of Management, and Professor Heiwai Tang, Director of Hong Kong Universitys Asia Global Institutes. The company had requested permission from the Commissioner General of Labour to terminate the workers' contracts. We care for our employees. Looking for a particular Esquel Group employee's phone or email? million verified professionals across 35 million companies. 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. It is the world's largest woven shirt maker, producing about 100 million shirts annually. 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. 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. This is essentially improving the quality of employment; people nowadays talk about a work-life balance, they dont want to work on a factory floor all the time. These fresh talents received one year of basic skills training before undergoing a simulation workshop to acquire hands-on experience of different production scenarios. As a knowledge-based innovation company, we believe our employees are our greatest assets. With further communication and internal training, the team eventually saw a drastic boost to their production efficiency and performance. Up to 5 She believed that switching to lean production was the right response to rapid market changes, to achieve quality and agility. 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. This button displays the currently selected search type. One white T-shirt developed by the company and currently on sale in its stores uses 84% less water, 85% less chemicals, and 17% less energy than comparable products. We empower Esquelers to make their decisions, unleash their potential, and build a positive and respectful working environment by adopting our #eCulture. Delicious food from Seoul Bros as always Apart from quarterly updates, all our reports are updated prior to delivery. The Clothing Manufacturer Service. digitGaps provide you the detailed information on major recent deals. 2. 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. 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. #Esquel #makingadifference #45thanniversary #annualdinner, May the full moon bring you a joyful home and a successful future! 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. Yang believes the most. 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 STANFORD CASE STUDY (ESQUEL GROUP) 1. 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. NN Group's Annual Report is available for download at www.nn-group.com/annual-report. Michael Oppenheim, Collections & Reference Services, UCLA. 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. In-depth analysis performed to produce this report will give you a clear and unbiased view of the company's strategy and growth prospects. Another initiative to train up workers with the necessary skills to deal with the future manufacturing model has been to set up a virtual university called Esquel University. #Esquel#MakingADifference#Lunarnewyear2023, How should a firm go beyond financial measures to create a more environmentally sustainable and socially responsible future? The third panel invited long-time business leaders to share their experiences and insights regarding the role of corporations during these times of. Ideally, readers should be able to scan through the document and get the information they need. Annual Report View In PDF DIGITAL VERSION. Esquel's Commitment to Xinjiang As a knowledge-based innovation company, Esquel Group operates through our distinct business groups. Tammy Dalton, National Account Manager, MCI, Tammy Dalton. SWOT Analysis: Company information detailing strengths, weaknesses, opportunities, threats, growth strategies, investments signal key strategic targets, challenges, and objectives Fond memories remain of my time in Hong Kong . Please wait while the search results are loading Esquel Group of Companies is one of the worlds largest producers of cotton shirts. Learning comes from doing. . Synopsis of Business Strategy: Corporate strategy summarization: Domestic Strategy and International Strategy Financial Year 2021-22. Congrats Margie to you and your Esquel team, and to Ronald as well! To view this article you need a PDF viewer such as Adobe Reader . The company also has its own retail brands PYE and Determinant. Pay via Invoice/Credit Card/Debit Card/ACH/SEPA/Direct Debit or Bank Transfer. Esquel Group was founded in 1978. digitGaps report on Esquel Group Limited delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy. Our prime source of information for generating this report is gained by primary research (qualitative and quantitative research), paid subscriptions, and desk/secondary data sources, which is then analyzed by our experts in order to present this vast data, information in an easily accessible consistent format. While producing this report, we have followed a standardized research methodology which assures our data quality and authenticity. Many thanks to Lucy Cromwell and Jiwon Choi for kickstarting this fantastic opportunity and we look forward to making these reusable lunches more frequent! 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. This button displays the currently selected search type. Guilin, Guangxi, China - Researched energy-conscious initiatives to be . Management Team: Names, Profiles, Information on key personnel managing the business, heading key departments and function with their employment history and executive biographies 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. A Chinese New Year Party was held yesterday for all of us to meet and greet. View our 2022 Interim Report. Notre histoire remonte 1949 et notre entreprise continue se dvelopper sur un socle de valeurs fortes. In Esquels case, it is definitely the latter. [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. 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,. 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. 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. 4. So if you can use less time, generate higher output, we are going to give you more money. 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 company had requested permission from the Commissioner General of Labour to terminate the workers contracts. Thanks for the opportunity for us to showcase our Esquel story. Looking at the ex-factory unit cost of a piece of apparel (across the entire supply chain, including spinning, weaving, knitting, dyeing), labour accounts for only 25%. But Yang says making a difference is as key as making profits. 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. Select Accept to consent or Reject to decline non-essential cookies for this use. Liked by Edgar Tung. At Esquel, we prioritize investment in the growth and well-being of our employees. No credit card required. Teething issues such as inconsistent procedures and uneven cycle times per machine caused colleagues to grumble from the unstable workload. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . Civic Exchange is a company with limited liability and a registered charity in Hong Kong. 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. As strong advocates of sustainability, we love seeing large corporations taking responsibility to ensure their business is as sustainable as possible. 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. The workers union FTZ & GSEU and its allies in the CCC global network are calling on Esquel and on companies and brands that have or used to have a business relationship with Esquel Sri Lanka to ensure that the workers receive their full legal compensation and are offered reemployment opportunities by the new owners, orwith their other suppliers in Sri Lanka. TRANSINVEST Construction fait partie des leaders du BTP Maurice et sur Rodrigues. 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. 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. It includes their financial performance and activities over the prior fiscal year. [5] The opening of China that year had according to one of Yang's daughters led to the decision to establish the company. Our company profiles cover most of the major public and private companies globally, 4.1 Buying this report will enable you to get detailed company information and its operations including: This information contains a summary of each deal by type, rationale, and financials 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 . Fairmont PD001--552. 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. Colleagues showed their talents through stunning performances. 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. They will also be responsible for calibrating the machines like a technician.. 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. Press release. Independent Consultant with significant experience in the Emerging Markets of Sub- Saharan Africa and Asia. The average loan amount is CNY15,000 (US$2,254) and there have been zero defaults since its launch. In the first place, Esquel improved the quality of the provided services and products, as a new IT solution made reporting easier and faster. Analyst research Here are some pointers for a good annual report design: Use headings and subheadings. Annual reports typically include information regarding its future . [2] Esquel supplies textile to companies such as Li Ning, ANTA Sports, Fila, Giordano, Muji. 6,10 MB. The two Koggala factories have been non-operational since 15 March. [4], The family owned business was founded in 1978 by family patriarch Yang Yuan-loong[zh]. The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. Esquel harnesses technology to transform its operations and commercialize its innovations. Our Vice Chairman Teresa Yang said that this award win is another major recognition of Esquels vision of Making a Difference embodied by Integrals pioneering architectural design and development model. Accounting Mini-series. [2] Esquel supplies textile to companies such as Li Ning, ANTA Sports, Fila, Giordano, Muji. See the answers, explore popular topics and discover unique insights from Esquel Group employees. Regulatory filings document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Hong Kong's independent public policy think tank. 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. This report contains Esquel Group Limited company and market share data which will help you understand the detailed picture of companys financial position. ESOP. The company also manufactures and retails mens and ladies dress shirts, sport shirts, and woven and knitted tops; accessories that includes buttons, labels, and handtags; and packaging materials such as plastic and paper bags, stickers, and carton boxes. The approximately 300 workers who did not agree to resign are legally obliged to stay on the payroll until the Commissioner General of Labour rules on the termination of their employment contracts, but have had their annual bonuses cut, in violation of earlier agreements reached with the union, in a clear act of retaliation by Esquel. Phone: 852-2811-8077Fax: 852-2960-6988Address: 25 Harbour Rd., Harbour Center, Fl. Civic Exchange Aims Organizations create impacts at various. 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. There is a call for computer vision. You might think this is counter-intuitive, because if you increase the cost you are not earning as much. More inspiring contributions from Esquel Group! Morgan, Lewis & Bockius LLP. 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. on 2021 Annual Report. fThe privately-owned company was one of the leading cotton apparel and textile manufacturers in the world The company employed 47,000 people and manufactured 60 million shirts a year. 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. Esquel Group is one of the few large textile manufacturing groups to do so. We are especially trying to push Plunketts since all of our students have to do so much industry research and your interface is so easy to use. #reusablepackaging #sustainability #plasticwaste #food, Director (Legal Recruitment) at Okumura Partners Limited. I am very impressed, I have to say! The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. Tessie was invited as the keynote speaker to share how the transformation of the textile industry connects closely with sustainable development. #Esquel #MakingADifference #Lunarnewyear2023, Its great to meet our Esquelers after the holiday! This ensures that all the latest information is captured to enable you to make informed decisions 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 . Esquel Group is one of the few large textile manufacturing groups to do so. Esquel Group | 11,811 followers on LinkedIn. Im amazed at how much information is available and the various ways to access it. If you can't read this PDF, you can view its text here. A special showcase is Integral, our sustainable development garden in Guilin. Esquel Group Esquel's Commitment to Xinjiang As a knowledge-based innovation company, Esquel Group operates through three distinct business groups: Esquel Brands and Distribution (EBD), Esquel Textiles and Apparel (ETA), and Esquel Ventures (EVG). We had the privilege of working with them to revamp their annual Sustainability Report website. This annual report matches the Red and Black design set. Lorem ipsum dolor sit amet consectetur adipisicing elit. The more I get into the database, the happier I am that well have itREALLY happy!!! Fairmont PD999--113. By way of explanation, he sets out some alarming numbers. Finally, the visual style needed to be aesthetically uniform with the Esquel Group & Esquel Sustainability brand. Esquel Group is a family-owned textile and apparel company based in Hong Kong with operations throughout China, Vietnam and Sri Lanka, employing over 35,000 people worldwide. Search over 700 Devote space to photographs, infographics and other compelling visual elements. The switch was far from straightforward, however. The company's operations are vertically integrated, from producing cotton, buttons, and packaging to design and manufacturing. If your company is interested in trying this out - please reach out! #Esquel #MakingADifference #lunarnewyear2023, We are the true agent of change. Crocs, Inc. proudly reported record annual revenues of $3.6 billion, growing 54 percent over 2021. It was not until legislation was. 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. All pre-sales and post-sales queries are addressed by our analyst 927 were here. The websites front & backend also needed to be easily updated on a yearly basis. Esquel Group has an estimated 201 employees and an estimated annual revenue o. Sustainability Pays Dividends Importance of 'Soft' Technology for China. Congratulations Tessie and Bryant! Stay tuned to hear more from us about our sustainability journey. Sign up for a free account. Departments of Commerce, State, Defense, Energy, and Treasury. It will enhance your understanding of internal and external factors which might impact your industry Its clientele include Abercrombie & Fitch, Jack & Jones, Gant, Hugo Boss, Lacoste, Ralph Lauren, Tommy Hilfiger, and Nautica. In addition, there will often be graphs or charts included, helping break down the financials into easily readable information. We provide you detailed insights of the companys strategic, financial and operational performance Financial and Economic Overview: Current financial and economic ratios consider past 5 years quarterly, semi-annual, annual financial statements On Thursday, Esquel said since the subsidiary ended up on the blacklist, the company "lost a significant portion of its annual revenue totalling hundreds of millions of dollars" that has. Legal Structure and Ownership: Synopsis on companys shareholders outlining the legal structure and ownership We strive to achieve One Esquel One Team through our happiness culture! 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.. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . 13Hong Kong, Hong Kong 999077 Hong Kong. Esquel is a manufacturer and supplier of apparels for men and women. Locations/Facilities: Contact details listing the key locations/facilities, subsidiaries of the company Feb 24, 2023 (Alliance News via COMTEX) -- The Clothing Manufacturer Service market value was US$ $$ billion in 2021. Or do we have other ways of looking at the bigger picture? Tungasked. Esquel is doing everything they can to close their facilities without paying workers in full, and to punish the unionized workers in the process. 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. 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. Report. [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.

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