esquel group annual report

View a snaphot of our 2021 Annual. 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. Integral was also selected as a finalist for the Special Architectural Award (Architectural Sustainability Category). #Esquel #MakingADifference #sustainability, Usher in the Lunar New Year! Our prime source of information for generating this report is gained by primary research (qualitative and quantitative research), paid subscriptions, and desk/secondary data sources, which is then analyzed by our experts in order to present this vast data, information in an easily accessible consistent format. This button displays the currently selected search type. Looking for a "Syndicated, Qualitative or Quantitative Market Research Solution? As a knowledge-based innovation company, we believe our employees are our greatest assets. digitGaps report on Esquel Group Limited delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy. The company had requested permission from the Commissioner General of Labour to terminate the workers contracts. You can avail the reports as per your needs 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. Esquel has a long history of union busting and discrimination against union activists. One white T-shirt developed by the company and currently on sale in its stores uses 84% less water, 85% less chemicals, and 17% less energy than comparable products. STANFORD CASE STUDY (ESQUEL GROUP) 1. Strengths of Esquel Group Integrating Business Strategy and Corporate Social Responsibility is the first element of the SWOT matrix. Copyright 2023 Civic Exchange. 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. In addition, there will often be graphs or charts included, helping break down the financials into easily readable information. Founded in 1978, Esquel Group has grown to become one of the largest cotton-shirt maker and exporter in the world. Understanding the companys business segment expansion or their asset divestment 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. 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. The numbers show why. The company also manufactures and retails mens and ladies dress shirts, sport shirts, and woven and knitted tops; accessories that includes buttons, labels, and handtags; and packaging materials such as plastic and paper bags, stickers, and carton boxes. Im amazed at how much information is available and the various ways to access it. 13,192 followers 1w Report this . We provide quality employment and improve the livelihood of the communities in which we operate. 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. Koggala factory garment workers during a work stoppage in November 2021, Statement on the closure of two Sri Lankan factories amid severe financial crisis. The more I get into the database, the happier I am that well have itREALLY happy!!! This information contains a summary of each deal by type, rationale, and financials 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. Our annual dinner in Hong Kong was successfully held last Saturday. PDF. I haven't really watched much of The Apprentice (ever or this time around), and I appreciate that it's obviously all in aid of making "good TV" but if someone was consistently bringing such hopeless candidates through screening to shortlist interview stage you'd start to question both their business sense and how good a judge of character they are. Esquel manufactures mor..See More, How to Use Plunkett Research Online-12 Minutes, By Using this Site You Agree to these Terms of Use. 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. Following our feature video from Guilin, Edgar Tung, incoming CEO of Esquel Group, announced Esquel's Pledge to Net Zero. Company Headcount: List of key employees as well as the headcount of the company, hierarchy Project Coordinator Social Alliance Communications Consultancy . Esquel Group ( Chinese: ) is a Hong Kong-based textile and apparel manufacturer. Learning comes from doing. Esquel Group | 11,811 followers on LinkedIn. Group annual report - Risk and governance report PDF (5.11 MB) Group annual report - Annual financial statements PDF (4.71 MB) Group annual report - Remuneration report PDF (4.69 MB) Investec Group sustainability report PDF (11.79 MB) Investec Limited annual report . 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. A special showcase is Integral, our sustainable development garden in Guilin. Challenges and threats from current competition and future prospects so that you can understand your competitors business structure and strategies and respond to them By way of explanation, he sets out some alarming numbers. From there, we created the first natural dye garden in China. Lorem ipsum dolor sit, amet consectetur adipisicing elit. China, European Union, United Kingdom, USA . Civic Exchange is a company with limited liability and a registered charity in Hong Kong. Backed by over 40 years of experience, each business group adheres to our net zero pledge, and our commitment to our vision of Making a Difference through tackling climate change and narrowing the wealth gap. 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. Delicious food from Seoul Bros as always [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. Company offerings: Details on a list of companys major products/services/brands Esquel Group is one of the few large textile manufacturing groups to do so. Download a "Company Intelligence" sample report. Esquel Group has an estimated 201 employees and an estimated annual revenue o. The company also has its own retail brands PYE and Determinant. ESOP. Other costs are raw materials (25%), processing (30%), overheads and back office (20%). The workers union FTZ & GSEU and its allies in the CCC global network are calling on Esquel and on companies and brands that have or used to have a business relationship with Esquel Sri Lanka to ensure that the workers receive their full legal compensation and are offered reemployment opportunities by the new owners, orwith their other suppliers in Sri Lanka. [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. This simple annual report template includes instructional text to assist you in building a good report. An annual report is a document that contains comprehensive financial information about public companies, small and large corporations, non-profit organizations, partnerships, and other businesses. director at Opulent Textiles Corp Sdn Bhd. 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. Pay via Invoice/Credit Card/Debit Card/ACH/SEPA/Direct Debit or Bank Transfer. All our reports come with 10% customization at no extra cost Annual Report View In PDF DIGITAL VERSION. While producing this report, we have followed a standardized research methodology which assures our data quality and authenticity. 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.. Up to 5 Apart from quarterly updates, all our reports are updated prior to delivery. Responsible Labor Report: 2022-2023 Franco Corrado, Jessica Gordon, Xavier Haranger, Katelyn Hilferty, Sabine Konrad, Todd Liao, K Lesli Ligorner, Sandra Moser, David Plotinsky, Carl Valenstein,. [2] Esquel supplies textile to companies such as Li Ning, ANTA Sports, Fila, Giordano, Muji. Divided into different faculties business and management, design, humanity and social sciences, science and engineering to try to train people in different perspectives, the curriculum includes online courses, experience sharing, visits and rotation programmes. TER, un acronyme d'actualit quand nos consciences nous appellent prserver la . Teams of colleagues competed in the Fai Chun Writing Contest, which allowed them to unleash their creativity and strengthen their bonding in between. She believed that switching to lean production was the right response to rapid market changes, to achieve quality and agility. You can update your choices at any time in your settings. [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. We are especially trying to push Plunketts since all of our students have to do so much industry research and your interface is so easy to use. View full 2021 Annual Report. ESQUEL GROUP OF COMPANIES (Private) Company Profile, Corporate Revenues, Growth, Market Size, Analysis, Business Forecasts, Market Share, Metrics, SWOT Esquel Group of Companies is one of the world's largest producers of cotton shirts. Congratulations Margie & Teresa, Ron & Bryant! Outlook for Future Years. 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. Otto Group Annual Report 2019/20. The carbon footprint analyses of our proprietary assets and the EU Taxonomy disclosures have been incorporated in the Annual Report as of this year. 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. Congratulations Tessie and Bryant! Boston Consulting Group estimates that more than $22 trillion worth of goods flow across the world every year, a figure expected to reach almost $35 trillion by the end of the decade. We strive to achieve One Esquel One Team through our happiness culture! Annual Report. At Esquel, we seek to provide quality employment that creates opportunities for all. Using fewer but more skilled workers, increasing productivity, investing in robotics and automation, micro-financing cotton farmers, and even selecting the whitest cotton fibres to reduce the bleaching process are among the initiatives outlined by managing director Edgar Tung. Stay tuned to hear more from us about our sustainability journey. The geographic presence in different regions can act as one of the major strength of the organisation. 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. Mergers and Acquisition/Deals & Alliances/ Partnerships & Investment: Information on historical, current/projected merger and acquisitions, deals, partnerships, alliances and investments Purchase this report to inform your strategy, marketing, planning, sales and competitor intelligence functions, thus enabling you to formulate strategies that augment your business. [4] This analysis will help you track important events of the company Brand Strategy Brand Identity Storytelling Animation Illustration Website Design & Development. Workers suspect that the factories will be reopened with new owners, but fear that union members and supporters will not be rehired. 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. Independent Consultant with significant experience in the Emerging Markets of Sub- Saharan Africa and Asia. At this point surely the recruitment team need to be fired? Detailed intelligence on Competition: Insights on key competitors Or do we have other ways of looking at the bigger picture? Tungasked. It is the world's largest woven shirt maker, producing about 100 million shirts annually. Our company profiles assist you to formulate strategic analysis in order to understand your customers, partners, and competitors, enabling you amplify your business better. 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. Given Esquel's history, in which parts of the supply chain is the group's core where it has the deepest knowledge and expertise? 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