Company Overview
MAS Holdings is the largest apparel tech company in South Asia, offering comprehensive concept-to-delivery solutions in apparel and textile manufacturing. Noted for its innovation, sustainability, and ethical manufacturing practices, MAS Holdings collaborates with leading international brands, operating 42 state-of-the-art facilities across 15 countries and employing over 72,000 individuals. The company specializes in producing lingerie, sportswear, swimwear, and athleisure. Established in 1987 and headquartered in Sri Lanka, MAS Holdings serves numerous high-profile brands including Nike, Victoria's Secret, and Calvin Klein, in addition to startups focused on sustainability and technology.
Business Unit: MAS Intimates
MAS Intimates is a pivotal subsidiary of MAS Holdings and serves as its largest business unit. Renowned for its innovative approach to intimate apparel manufacturing, it offers a diverse product portfolio encompassing bras, briefs, men's essentials, shapewear, and wearable tech. MAS Intimates operates 17 advanced manufacturing sites in Sri Lanka, Bangladesh, India, Indonesia, and Kenya, with design and development offices in key fashion hubs such as Hong Kong, New York, and London.
Leadership
Rajiv Dharmendra, the CEO of MAS Intimates since March 2019, leads the company in its drive for innovation and sustainability. With a background in Mathematics and Economics from King's College London, and an MSc. in Finance from the London School of Economics, Rajiv brings over 21 years of experience to the role. His leadership focuses on steering the Innovation Board and shaping strategic innovation across the MAS group.
Strategic Initiatives and Achievements
MAS Intimates, under Rajiv Dharmendra's leadership, emphasizes technological advancements and sustainable practices, contributing to numerous awards, including the Gold Award at the Top50 Professional & Career Women Global Awards 2024. The company is heavily invested in digital product creation, utilizing digital twins and 3D technology to transform design and manufacturing processes.
Sustainability and Community Engagement
With initiatives like the Women Go Beyond program, MAS Intimates is committed to skills development and gender equality, further aligning with MAS Holdings’ Plan for Change. The company emphasizes climate resilience and societal betterment for future generations.
Employee Highlights
Key personnel include Kushlani Herath, Head of Sales and Program Management, Manishi Annasi Watthage, a Fashion Designer, and Deethri Samarajeewa, an Account Manager and athlete, demonstrating the company's support for work-life balance and personal growth.
Global Partnerships and Market Presence
MAS Intimates partners with prestigious global brands such as Victoria’s Secret & Co, Triumph, and Speedo, highlighting its global footprint and emphasis on sustainability and innovation. Its strategic partnerships bolster its competitiveness in the intimate apparel market.
Competitor Profiling for MAS Intimates
Major Competitors
- Brandix: A leading competitor, Brandix is based in Sri Lanka and delivers end-to-end textile production solutions.
- Hela: Another direct competitor, Hela operates in the textile sector focusing on intimate wear and global market reach.
- Hirdaramani: An established player in Sri Lanka's garment sector, offering comprehensive apparel solutions with an extensive network.
Global Competitors in the Lingerie Market
- Hanesbrands Inc.: Known for brands like Hanes and Maidenform, this company focuses on quality and comfort in intimate apparel.
- H&M Hennes & Mauritz AB: A renowned retailer from Sweden, emphasizing sustainability and serving a wide consumer base with brands such as H&M and COS.
- Jockey International Inc.: Recognized for innovative intimate apparel and sportswear, maintaining global brand presence.
Market Dynamics
The global lingerie market, valued at USD 84.2 billion in 2023, is projected to grow to approximately USD 149.9 billion by 2032, with a CAGR of 6.42%. Growth is driven by innovations in sustainable production, eco-friendly materials, and advancements in AI technology enhancing consumer experiences.
Strategic Insights
MAS Holdings distinguishes itself with pioneering technologies and a focus on sustainability. To sustain its competitive edge, MAS can leverage its robust brand partnerships and expand its eco-friendly apparel technologies. Collaborations with tech companies enhance product offerings, providing personalized shopping experiences through advanced data analytics and AI integration.
