esquel group annual report

[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. 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. A. 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. Esquel Group | 13,195 followers on LinkedIn. 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 . Notre histoire remonte 1949 et notre entreprise continue se dvelopper sur un socle de valeurs fortes. I hope to see it one day when it is safe to travel again. Im amazed at how much information is available and the various ways to access it. A special showcase is Integral, our sustainable development garden in Guilin. Otto Group Annual Report 2021/22. #Esquel #makingadifference #45thanniversary #annualdinner, May the full moon bring you a joyful home and a successful future! Synopsis of Business Strategy: Corporate strategy summarization: Domestic Strategy and International Strategy digitGaps company research reports are written by our qualified research team, a dedicated group of analysts who knows the industry inside and out. 13,192 followers 1w Report this . They will also be responsible for calibrating the machines like a technician.. 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. 3,63 MB. Esquel harnesses technology to transform its operations and commercialize its innovations. [4], The family owned business was founded in 1978 by family patriarch Yang Yuan-loong[zh]. The geographic presence in different regions can act as one of the major strength of the organisation. - Planning and developing merchandising strategies - Preparing quarterly sales report, buying and capacity analysis. Following our feature video from Guilin, Edgar Tung, incoming CEO of Esquel Group, announced Esquel's Pledge to Net Zero. As a knowledge-based innovation company, we believe our employees are our greatest assets. But its focus is not on the cost of this labour, rather the productivity they can generate. . 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. #Esquel #MakingADifference #lunarnewyear2023, Spreading joy and good luck through Chinese calligraphy! 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. Get contact details including emails and phone numbers Koggala factory garment workers during a work stoppage in November 2021, Statement on the closure of two Sri Lankan factories amid severe financial crisis. But what we are trying to do is link the productivity improvement with the net take-home pay of our workers. Civic Exchange is a company with limited liability and a registered charity in Hong Kong. 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. Given Esquel's history, in which parts of the supply chain is the group's core where it has the deepest knowledge and expertise? 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. 4. Esquel Group's Post . You can avail the reports as per your needs Devote space to photographs, infographics and other compelling visual elements. 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 . 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. We are also engaging with external academic institutions and trying to sponsor our workers and supervisors to go for diploma education so the amount of our workforce who are better educated has now improved significantly.. Financial and Economic Overview: Current financial and economic ratios consider past 5 years quarterly, semi-annual, annual financial statements With further communication and internal training, the team eventually saw a drastic boost to their production efficiency and performance. This report will also provide you with the target companys key financial metrics and ratios 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. #3ddesign #DPC #digitaltwin, Senior CSR & Sustainability Manager at foodpanda, Another successful lunch & learn experience at Colliers with more than 100 foodpanda reusable boxes! #reusablepackaging #sustainability #plasticwaste #food, Director (Legal Recruitment) at Okumura Partners Limited. digitGaps is presenting this report to you to understand companys key strengths, weaknesses, potential opportunities, and threats. Key personnel information with biographies While producing this report, we have followed a standardized research methodology which assures our data quality and authenticity. There are also companies nearby wanting to use the app, so we are opening this platform to other companies., Talking about apps, we actually have factory workers writing mobile apps, and have received over 1,000 applications for different ideas., As well as focusing on people and the planet, we also think it is very important to look at the product we develop., Take a T-shirt: the bleaching process uses a lot of chemicals, but since we are producing our own cotton and yarn, if we carefully select the cotton fibres that are whiter in colour we can actually reduce the bleaching process.. Do we constantly move from one location to another chasing low cost labour? Ideally, readers should be able to scan through the document and get the information they need. There is a call for computer vision. 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. Understanding the companys business segment expansion or their asset divestment Download a "Company Intelligence" sample report. 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. 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. But Yang says making a difference is as key as making profits. This report provides a case study of The Esquel Group (EG), a prominent, Hong Kong-based textiles and garments manufacturer. Esquel is investing more than CNY2bn (US$313.9m) on building a new spinning mill and garment manufacturing facility at picturesque Guilin in Guangxi province, which is due to begin operation next year. If you think about a robotic arm as your hand, you also need a pair of eyes to try to assess the fabric position. Esquel Group is one of the few large textile manufacturing groups to do so. The company had requested permission from the Commissioner General of Labour to terminate the workers contracts. The vertical marketing tool is very helpful, for it assists us in that venue, as well as targeting customers competition for new salesThe comprehensive material is absolutely fabulous. All rights reserved. Director, Derby Entrepreneurship Center @Tufts | Corporate Innovation Consultant | Keynote Speaker and Author, Senior Business Consultant at Organicoguru Lanka (Pvt) Ltd. Congratulations ! 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. #Esquel #MakingADifference #sustainability, Usher in the Lunar New Year! 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. Help and advice on how to conduct, export and save searches is available at all stages. Annual Report. Esquel had made a name for itself by making high-quality cotton Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . #Esquel #MakingADifference #Lunarnewyear2023, Its great to meet our Esquelers after the holiday! Apart from quarterly updates, all our reports are updated prior to delivery. Stay tuned to hear more from us about our sustainability journey. It provides us with an overall analysis of the market, key statistics, and overviews of the major players in the industry in an online service that is fast, easy to navigate, and reliable. 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. 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. Come and meet our Esquelers in Integral! Popular questions Work from Home View full 2021 Annual Report. Phone: 852-2811-8077Fax: 852-2960-6988Address: 25 Harbour Rd., Harbour Center, Fl. Morgan, Lewis & Bockius LLP. The third panel invited long-time business leaders to share their experiences and insights regarding the role of corporations during these times of. 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. 2002 Research Report Measuring Sustainability: A Snapshot of a Hong Kong Company - the Esquel Group By 3 June 2002 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. Teams of colleagues competed in the Fai Chun Writing Contest, which allowed them to unleash their creativity and strengthen their bonding in between. Esquel Sri Lanka operates two additional facilities, Ekala and Kegalle. Esquel Group ( Chinese: ) is a Hong Kong-based textile and apparel manufacturer. Lets go the extra mile with a year full of celebrations and breakthroughs for Esquel. [6][7] In July 2021, Esquel filed a lawsuit in the United States District Court for the District of Columbia against the U.S. government seeking removal from the Entity List. Founded in 1978, Esquel Group has grown to become one of the largest cotton-shirt maker and exporter in the world. This will be a major resource for our serious job seekers. More inspiring contributions from Esquel Group! Challenges and threats from current competition and future prospects so that you can understand your competitors business structure and strategies and respond to them Our challenge was to create an interactive, engaging; yet easily digestible website layout that could hold an extensive amount of information & data on one platform. The team has looked through the material and are very happy with the data you pulled together. Elton PD001--1463 Strengths of Esquel Group Integrating Business Strategy and Corporate Social Responsibility is the first element of the SWOT matrix. The firms vertically integrated operation starts in China where it oversees cotton farms. The carbon footprint analyses of our proprietary assets and the EU Taxonomy disclosures have been incorporated in the Annual Report as of this year. Fairmont PD999--113. Esquel Group Limited was founded in 1978 and is based in Wanchai, Hong Kong. That ruling remains pending. These fresh talents received one year of basic skills training before undergoing a simulation workshop to acquire hands-on experience of different production scenarios. Esquel is also developing and nurturing two of its own retail brands of high quality shirts - PYE and DETERMINANT.. 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. 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. Fairmont PD001--552. Our report is a guide for you to get potential investments and acquisition targets. #Esquel #MakingADifference #lunarnewyear2023, Leaping into the Year of the Rabbit, we wish you a wonderful new year. Our annual dinner in Hong Kong was successfully held last Saturday. 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). The company also has its own retail brands PYE and Determinant. When expanded it provides a list of search options that will switch the search inputs to match the current selection. We had the privilege of working with them to revamp their annual Sustainability Report website. 25% OFF ON COMPANY REPORTS. 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. You will get an exact picture of companys core strengths and weaknesses. Tessie was invited as the keynote speaker to share how the transformation of the textile industry connects closely with sustainable development. View a snaphot of our 2021 Annual. Liked by Edgar Tung. Analysis of prospects, locations and subsidiaries [4] Esquel (Mauritius) Ltd has a manpower of 2710 comprising of both local and foreign employees from Bangladesh, Madagascar, Nepalese, Sri Lankans, Malaysians and Indian. In addition, there will often be graphs or charts included, helping break down the financials into easily readable information. Esquel Group has an estimated 201 employees and an estimated annual revenue o. Approximately 1,000 workers who agreed to resign have filed a legal case against the company with the labour authorities. Esquel is doing everything they can to close their facilities without paying workers in full, and to punish the unionized workers in the process. The company also has its own retail brands PYE and Determinant. No credit card required. Esquel Group May 2014 - Aug 2014 4 months. Lets kick start our work at full strength! digitGaps custom research services are customer driven. Learn more in our Cookie Policy. Well done! 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. Esquel Group's headquarters is located in London, England, GB W1U 3RF. Please wait while the search results are loading Esquel Group of Companies is one of the worlds largest producers of cotton shirts. Should this video be a part of your PLM Materials Library in addition to the U3M file? digitGaps provide you the detailed information on major recent deals. Departments of Commerce, State, Defense, Energy, and Treasury. Report. Annual reports typically include information regarding its future . Keep the text short and simple. Lets take the opportunity to explore the beauty of Integral through this Chinese New Year greetings series. The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. The company had requested permission from the Commissioner General of Labour to terminate the workers' contracts. What are the stages of the supply chain (value system) in which Esuqel operates (see Exhibit 5) What are the top 1 or 2 competencies would you need in each to be successful? Approximately 1,500 workers employed at two factories Koggala I and II - owned by Esquel Sri Lanka are facing imminent closure of their workplaces with no assurance that they will be reemployed when the factories are sold to another company. 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. 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. Esquel Group is one of the few large textile manufacturing groups to do so. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . Select Accept to consent or Reject to decline non-essential cookies for this use. 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. All our reports are not limited only to subscription models. Esquel has a long history of union busting and discrimination against union activists. Guilin, Guangxi, China - Researched energy-conscious initiatives to be . on 2021 Annual Report. 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 more I get into the database, the happier I am that well have itREALLY happy!!! We empower Esquelers to make their decisions, unleash their potential, and build a positive and respectful working environment by adopting our #eCulture. This analysis will help you track important events of the company Mergers and Acquisition/Deals & Alliances/ Partnerships & Investment: Information on historical, current/projected merger and acquisitions, deals, partnerships, alliances and investments Since then, the companies have been doing subcontracting for local manufacturers. Esquel offered its clients 1000 different fabrics annually The company made a substantial investment in innovations, to create new designs and fabric. #EsquelGroup #MakingaDifference #Integral #Sustainability #HKIAAnnualAwards #Guilin #SustainableDevelopmentGarden #rlp. Accounting Mini-series. Some types of businesses must prepare and file an annual report by . 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. 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. Instead, we are actually giving mandates to our factory general managers to try to increase the salary or our workers, rather than reduce the salary. In order to create a new signature S logo, we integrated different elements within the manufacturing process from cotton to textile and carefully blended them together. [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. I think this is going to be the trend going forward: how to develop credible means of improving productivity rather than just looking at it as a cost. We provide quality employment and improve the livelihood of the communities in which we operate. I am very impressed, I have to say! 927 were here. 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. Esquel Group's goal is to. Were developing an eco-friendly facility that demonstrates Industry 4.0 with automation and advanced use of data, but will also be a tourist destination too, Tung explained. Entity List. In 2005, Esquel's internal supply chain had covered all the main steps in the garment-manufacturing process, from cotton farming to manufacturing final garments and accessories. Project Coordinator Social Alliance Communications Consultancy . 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. Pay via Invoice/Credit Card/Debit Card/ACH/SEPA/Direct Debit or Bank Transfer. Primary research via qualitative and quantitative research Information on new product development/services as well as marketing and distribution strategies, 4.2 Esquel Group Limited SWOT Analysis profile will help you gain knowledge upon: 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. 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. Management Team: Names, Profiles, Information on key personnel managing the business, heading key departments and function with their employment history and executive biographies In-depth analysis performed to produce this report will give you a clear and unbiased view of the companys strategy and growth prospects.

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