Traceability: Lectra takes control of Dutch specialist TextileGenesis
French industrial intelligence solution provider Lectra has announced it has signed an agreement to buy a majority stake in TextileGenesis, a Dutch firm operating a secure software-as-a-service platform for tracking sustainable materials, from fibre creation to end-consumers.
In early January 2023, Lectra will acquire a 51% stake in TextileGenesis for €15.2 million. The remainder of TextileGenesis’s capital and voting rights will be taken over by Lectra in 2026 and 2028. TextileGenesis was founded in 2018, and among its clients are H&M, Kering, Bestseller, Arvind and Lenzing (owner of Tencel), and organisations like Textile Exchange, Fashion for Good, Canopy, US Cotton Trust Protocol and the WWF. The TextileGenesis platform is said to track some 50 brands and over 1,500 materials suppliers, tracing the provenance of over 30 million items.
The acquisition will boost the range of services offered by Lectra, which in 2023 will celebrate its 50th anniversary, and is keen to consolidate and augment its position as a key player in the Industry 4.0 transformation for the textile sector. Lectra previously bought specialist firms Gerber Technology, Neteven and Gemini CAD Systems.
“Having the highest ethical standards, guaranteeing the well-being of our employees, and preserving the environment are [principles] embedded in Lectra’s DNA and guide our daily decisions. Through our technology, acquisitions and partnerships, we aim to empower our customers to work in a more socially and environmentally responsible way,” said Daniel Harari, president and CEO of Lectra. “We look forward to joining forces with TextileGenesis's talented team to accelerate the development of their sustainable material traceability solution, and deepen our knowledge of the textile value chain in the fashion industry,” he added.
In H1 2022, Lectra, which specialises in services for the fashion sector, grew its revenue by 71%, reaching €250.8 million. In fiscal 2021, it generated a revenue of €387.6 million, equivalent to a 64% rise, due chiefly to the acquisitions of Gerber Technology, Neteven and Gemini CAD Systems.
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