MAS Holdings – Company of the Month – May 2021

Company name: MAS Holdings

Founder: Mahesh Amalean, Sharad Amalean, Ajay Amalean

Year: 1987

Total Assets:

Revenue: US$ 2 Billion

Net Income:

Country:  Sri Lanka

Headquarter: Colombo, Sri Lanka

Industry: Apparel & Textile

Webpage: https://www.masholdings.com/

Number of employees: 99,000+

Inspiring the world with design, innovation, and excellence, MAS Holdings has established itself as the most well-liked provider of the world’s foremost fashion brands. A company designed on a way reaching plan 25 years ago, MAS exuberates the right blend of daring, ability, and visionary thinking that has earned them world acclaim.

The bequest began in 1986; once 3 brothers, Mahesh, Ajay, and Sharad Amalean took on what looked as if it would be associated with unconventional product selection of the time, and went on to pioneer the art of nightclothes producing within the South Asian region. Nowadays MAS is one of Asia’s leading makers of intimate apparel, sportswear, performance wear associated swimwear, with an annual turnover of over USD 1 billion. Their 41 progressive facilities in ten countries offer employment to over 60,000 people.

In the late 1970s, the liberalization of Sri Lanka’s economy publicized new opportunities for Sri Lanka’s growing apparel exports industry. Before starting MAS Holdings, Mahesh and Sharad Amalean worked for a 60-year-old family apparel business run by their extended family. In 1984, the 3 Amalean brothers started their own. They pooled US$10,000; bought 40 stitching machines associated with an apparel company named sigma Industries.

In 1986, the company attracted the attention of MAST Industries, a U.S.A. primarily based wear provider and a subsidiary of the restricted Inc. It shaped its 1st venture with MAST Industries, to manufacture women’s artificial dresses, a product that wasn’t underneath the prevalent quota regime. However, before production might begin, a quota restriction was obligatory on the product, forcing the corporation to hunt out alternative merchandise to manufacture.

The company soon began honing its skills in nightclothes manufacturing, and MAS Holdings was formally inaugurated as a brand new business entity to manufacture intimate wear. On a visit to Ohio, USA, Mahesh Amalean and Martin Trust, CEO of MAST Industries, met with senior executives of Victoria’s Secret, securing MAS’s first massive order. For the ensuing decade, the corporate centered on intimate wear, embarking on strategic partnerships with corporations and growing its client base.

MAS’s client portfolio embodies strategic partnerships with global brands Victoria’s Secret and Nike, in addition to world-renowned brands such as Marks and Spencer, DBA, lululemon, Soma, Columbia Sportswear, Ralph Lauren, and the Banana Republic.

Global style studios set across the planet have developed into a significant price addition for MAS, and by desegregation lean producing principles through MAS software (MOS), the business is remodeling into a lean enterprise, delivering speed and legerity to customers. MAS’s investment in individuals & resources is facilitating innovation throughout the value chain. Today, MAS may be vertically integrated powerhouses with the power to offer an in-depth variety of services from style to delivery.

MAS additionally goes away with a ‘green wave’ within the business with Thurulie, the world’s 1st purpose-designed eco-manufacturing plant. Rated LEED Pt by the U.S.A. inexperienced Building Council and profiled as a worldwide Best observe in sustainability, Thurulie has influenced the means apparel is being created across the region.

Having achieved unequaled excellence as a worldwide attire and textile manufacturer, MAS Holdings has broadened its focus, diversifying into sectors involving fashion and lifestyle. Their efforts are centered on managing a portfolio of companies in IT, Brands, and Industrial Parks, with a vigorous presence in North America, Europe, and Asia. MAS Holdings additionally owns Sri Lanka’s first international nightclothes brand, amanté, launched solely in Bharat and Sri Lanka. The brand’s distinctive point remains its client-centric innovation and price premium positioning.

With a worldwide team distinguished by their passion and drive for excellence, MAS nurtures individuals into world category champions, operationally and sustainably empowering their employees to not solely be exceptional in their jobs, however additionally in their expected role in society, one that the corporate takes seriously. They draw strength and support from their communities as an accountable corporate, finance in their well-being which of future generations.

By 2003, MAS Holdings began to provide price additions and adore product development, style, and sourcing facilities. In the first 2000s, the corporation began interesting Lean producing principles into its production facilities and additionally launched its 1st in-house nightclothes brand, amantè, in India. Associate early adoption of Lean Enterprise helped MAS Holdings higher face up to the forcefulness of the planet’s economic worsening and its effects on Sri Lanka’s apparel industry.

In 2004 when Nike sought out socially and environmentally aware strategic partners to link with, MAS Holdings was the sole South Asian provider selected and was additionally the primary in a very number of Nike’s strategic initiatives.