An annual report is a corporate document disseminated to shareholders that spells out the company's financial condition and operations over the previous year. Civic Exchange is a company with limited liability and a registered charity in Hong Kong. At the same time, a new approach helped establish trusting relationships with the customers due to the satisfaction of their needs and wants. Sustainability Pays Dividends Importance of 'Soft' Technology for China. So proud to be an ex Esqualler . [4], The family owned business was founded in 1978 by family patriarch Yang Yuan-loong[zh]. Moreover, data from free sources is not as complete and concise as the information from digitGaps, 5.1 digitGaps aggregate and package content from multiple, and disparate providers. No credit card required. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Hong Kong's independent public policy think tank. I really appreciate the depth you were able to get to so quickly (for our project). [11], Most of the company's manufacturing facilities are in China. The company also has its own retail brands PYE and Determinant. 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. 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. Its clientele include Abercrombie & Fitch, Jack & Jones, Gant, Hugo Boss, Lacoste, Ralph Lauren, Tommy Hilfiger, and Nautica. [3], Its head office is in Harbour Centre[zh] (), Wan Chai. We provide quality employment and improve the livelihood of the communities in which we operate. Esquel Group has an estimated 201 employees and an estimated annual revenue o. With manufacturing operations across five Asian countries, Esquel produces 100 million garments annually. Do we constantly move from one location to another chasing low cost labour? SDG 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. 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. Synopsis of Business Strategy: Corporate strategy summarization: Domestic Strategy and International Strategy When Esquel started tracking its energy and water consumption back in 2005, there was no industrial benchmark to follow, so it set out its own reference point based on the unit consumption it takes to produce one piece of garment. Each Sustainability Pillar was specifically color and pattern coordinated., WeSuperseed combined the concept of line art and Traditional Chinese painting as an extension of the company visual identity, to accompany the factual content of the annual report a juxtaposition of their modern developments while maintaining their heritage.. The firm's vertically integrated operation starts in China where it oversees cotton farms. The two Koggala factories have been non-operational since 15 March. View a snaphot of our 2021 Annual. digitGaps custom research services are customer driven. Some types of businesses must prepare and file an annual report by . Colleagues showed their talents through stunning performances. 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. Yang believes the most. Lorem ipsum dolor sit amet consectetur adipisicing elit. #Esquel #MakingADifference #lunarnewyear2023, We are the true agent of change. They will also be responsible for calibrating the machines like a technician.. 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. The company had requested permission from the Commissioner General of Labour to terminate the workers' contracts. 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: Please wait while the search results are loading Esquel Group of Companies is one of the worlds largest producers of cotton shirts. Major deals are incorporated such as break of deals into categories and information which will assist your business research, 5. 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: Annual reports typically include financial statements, such as balance sheets, income statements, and cash flow statements. A REPRESENTATIVE LIST OF ORGANIZATIONS THAT HAVE USED OUR RESEARCH PRODUCTS: Your tool is very comprehensive and immensely useful. You might think this is counter-intuitive, because if you increase the cost you are not earning as much. The company was also mentioned in a draft bill introduced in the House and . Detailed intelligence on Competition: Insights on key competitors In addition, there will often be graphs or charts included, helping break down the financials into easily readable information. Financial and Economic Overview: Current financial and economic ratios consider past 5 years quarterly, semi-annual, annual financial statements Esquel is currently transforming its operations from the conventional methods by adopting lean manufacturing principles. Financial Year 2021-22. This ensures that all the latest information is captured to enable you to make informed decisions In-depth analysis performed to produce this report will give you a clear and unbiased view of the company's strategy and growth prospects. Management Team: Names, Profiles, Information on key personnel managing the business, heading key departments and function with their employment history and executive biographies A special showcase is Integral, our sustainable development garden in Guilin. The firms vertically integrated operation starts in China where it oversees cotton farms. 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. All our reports are not limited only to subscription models. 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. We had the privilege of working with them to revamp their annual Sustainability Report website. Over the years, Esquel has grown from a shirtmaker to a total solutions provider in textiles and apparel, a curator in industrial . This simple annual report template includes instructional text to assist you in building a good report. To make the data easily digestible, we created a range of visual icons in a minimalistic illustration style to represent the respective data points. At this point surely the recruitment team need to be fired? Select Accept to consent or Reject to decline non-essential cookies for this use. Other costs are raw materials (25%), processing (30%), overheads and back office (20%). ESOP. The approximately 2,000 workers at these facilities also face unsure futures as both leases run out by end of this year. The third panel invited long-time business leaders to share their experiences and insights regarding the role of corporations during these times of. On this Wikipedia the language links are at the top of the page across from the article title. All pre-sales and post-sales queries are addressed by our analyst 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. If your company is interested in trying this out - please reach out! When expanded it provides a list of search options that will switch the search inputs to match the current selection. Deals mentioned in our company research report will help you understand corporate strategy from the companys core business segment perspective Share your feedback. Lorem ipsum dolor sit, amet consectetur adipisicing elit. on 2021 Annual Report. An intro animation was created featuring their unique vertical integrated business model, from farming and processing cotton, all the way to stitching and developing high quality textiles. Key personnel information with biographies This button displays the currently selected search type. It is the world's largest woven shirt maker, producing about 100 million shirts annually. Jul 06, 2021, 12:00 ET. [2] Esquel supplies textile to companies such as Li Ning, ANTA Sports, Fila, Giordano, Muji. 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.. Over the course of the past 10 years weve managed to reduce the energy consumption by 45% per piece of garment produced; and reduced the water consumption overall by 64%.. So if you can use less time, generate higher output, we are going to give you more money. The geographic presence in different regions can act as one of the major strength of the organisation. Popular questions Work from Home Looking For Custom Company Research Report? #Esquel #makingadifference #45thanniversary #annualdinner, A fun little demonstration of using digital trims from JML Apparel using Style3D that I did a few months ago. [3] Its head office is in Harbour Centre [ zh] (), Wan Chai. 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. 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. Enter employee name to find & verify emails, phones, social links, etc. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Learning comes from doing. It determines the business's reach to the target market and ensures the easy accessibility. 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 Esquel Group Limited research report contains the following information which will give you clear and full picture of the business landscape, potential customers, competitors and suppliers. 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. 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. [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. 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. Our Reports. When Assistant Tang Xiaofang wanted to use a new lean approach to set up a different hangtag production line at Esquels accessories team in China, her colleagues shared their doubts, such as Why do we have to change how weve always worked? Yet, Ms. Tang remained undeterred, as she recognized how striving towards a lean continuous flow in production would bring about Excellence one of Esquels eCulture principles. This button displays the currently selected search type. Report. We empower Esquelers to make their decisions, unleash their potential, and build a positive and respectful working environment by adopting our #eCulture. 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. In the first place, Esquel improved the quality of the provided services and products, as a new IT solution made reporting easier and faster. 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. Esquel has a long history of union busting and discrimination against union activists. 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. All rights reserved. #Esquel#MakingADifference#Lunarnewyear2023, How should a firm go beyond financial measures to create a more environmentally sustainable and socially responsible future? We had the privilege of working with them to revamp their annual Sustainability Report website. The company also has its own retail brands PYE and Determinant. This means investing in the growth of each individual by empowering our workforce with the appropriate skills, tools, and a modern workplace experience, while also prioritizing the safety and wellbeing of our employees and their families. See the answers, explore popular topics and discover unique insights from Esquel Group employees. The average loan amount is CNY15,000 (US$2,254) and there have been zero defaults since its launch. Esquel manufactures mor..See More, How to Use Plunkett Research Online-12 Minutes, By Using this Site You Agree to these Terms of Use. 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. 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? We promote their well-being and enable them to grow personally and professionally. Given Esquel's history, in which parts of the supply chain is the group's core where it has the deepest knowledge and expertise? 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. #EsquelGroup #MakingaDifference #Integral #Sustainability #HKIAAnnualAwards #Guilin #SustainableDevelopmentGarden #rlp. Apart from quarterly updates, all our reports are updated prior to delivery. 13Hong Kong, Hong Kong 999077 Hong Kong. With annual sales of US$1.3bn last year, Esquel manufactures over 100 million garments annually for leading brands including Marks & Spencer, Ralph Lauren, Tommy Hilfiger and NIKE. Koggala factory garment workers during a work stoppage in November 2021, Statement on the closure of two Sri Lankan factories amid severe financial crisis. Detailed view of Business and Operations: Company description will give you detailed information regarding companys businesses, its divisions, and operations - Planning and developing merchandising strategies - Preparing quarterly sales report, buying and capacity analysis. Understanding the companys business segment expansion or their asset divestment Esquel Group Limited was founded in 1978 and is based in Wanchai, Hong Kong. This report will also present the historical, current and projected merger and acquisitions, financial analysis, deals and alliances, partnerships and investments of the company, news, competitors, and key executives profiles. From there, we also illustrated how people work harmoniously with nature. 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 . Thank you to all who joined us in celebrating the Chinese New Year. 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. The farms supply spinning, dyeing and knitting facilities that produce high-quality cotton fabric. 7. STANFORD CASE STUDY (ESQUEL GROUP) 1. [4] From there, we created the first natural dye garden in China. #Esquel #makingadifference #45thanniversary #annualdinner, May the full moon bring you a joyful home and a successful future! Many thanks to Lucy Cromwell and Jiwon Choi for kickstarting this fantastic opportunity and we look forward to making these reusable lunches more frequent!