Sri Lanka’s Hayleys Fabric surpasses global giants to win award at International Quality Awards 2022.
Daily FT: Hayleys Fabric set a global benchmark in sustainability, bagging the coveted Sustainability Impact Award at the recently concluded International Quality Awards (IQA) 2022 held in London. Sri Lanka’s largest textile manufacturer was crowned winner of the new category for its unique processes and procedures established to drive sustainability across its core functions. Held annually, the internationally acclaimed IQA celebrates the achievements of exceptional quality professionals and auditors across the globe.
“Sustainability has always been one of our core values, built into the structure of our DNA by our parent company, the Hayleys Group. Given the textile industry’s environmental impact, we have taken measures to implement the principles of circularity throughout all stages of the value chain, from design to production, all the way to the consumer.
“The introduction of the Hayleys Lifecode, an ESG-driven roadmap, fine-tuned these processes further, strengthening our commitments to sustainability to bring value to all our present and future stakeholders. As such, we are honoured to have been recognised for our efforts globally and delighted to have showcased Sri Lankan ingenuity on an international platform,” Hayleys Fabric Managing Director/CEO Rohan Goonetilleke said.
Moreover, Hayleys Fabric was recognised for its ESG commitment and alignment with 14 of the 17 UNSDGs, including climate action and water conservation. The manufacturer’s strategic roadmap further emphasises the need to seize opportunities to shape a greener future. Commenting on Hayleys Fabric’s commitment to sustainability, the panel of judges stated that: “Our winner evidenced a long-standing commitment to sustainability, in all dimensions, throughout the organisation and notably from the top.
“When selecting the winners of IQA awards, we always look for answers to the “so what” question. In this case, our winner can evidence many sustainability successes, including that their huge efforts in improving water quality are saving many lives. This is a remarkable achievement.”
Finalists for the Awards included global heavyweights Jacobs, a global engineering firm for its unique ESG strategy developed through stakeholder engagement, and Troup Bywaters+ Anders, an engineering partnership for its strategic commitment to sustainability for positive social impact. Most recently, the manufacturer’s ‘WARNA by Mahogany’, a natural dye created through a new line of organic, eco-friendly fabric, spearheaded by the Head of Innovative Sustainability Leonie Vass, was listed among the Top 10 global innovations at the ISPO Textrends Spring/Summer 2024.
The achievement strengthened Hayleys Fabric’s reputation as a worldwide pioneer in specialised, sustainable, circular fabric sourcing for the apparel sector. The product was part of a waste-to-fashion initiative pioneered by Hayleys Fabric in the local industry.
The initiative supports multiple United Nations Sustainable Development Goals (UNSDGs), such as responsible consumption and production, sustainable innovation and infrastructure, clean water and sanitation, life below water, life on land and climate change. Hayleys Fabric PLC is a pioneer in textiles manufacturing in Sri Lanka, capable of delivering end-to-end solutions from design to manufacture, and was the first apparel sector company to be listed on the Colombo Stock Exchange in 2003. The Hayleys Fabric Group has a production capacity of over 6 million meters of cotton and synthetic fabric per month and has the largest manufacturing capacity in Sri Lanka. The company is a leading partner to globally renowned fashion and apparel brands.
OSL take:
The achievement of Hayleys Fabric is indicative of the strength and growth of Sri Lanka’s private sector, especially in the apparel industry. Sri Lanka’s apparel industry and related businesses have continuously posted a growth momentum becoming one of the leading foreign exchange earners in the country. The Sri Lankan authorities have also taken steps to introduce various incentive schemes to further boost foreign investments to the industry. The many trade agreements as well as trade concessions enjoyed by the country have also helped boost Sri Lanka’s exports sector, especially the apparel industry. Given the growth and business potential in the industry, foreign businesses/investors could explore the increasing opportunities in Sri Lanka’s apparel industry. Many local apparel businesses have already expanded operations into foreign markets and foreign businesses could also look at forming partnerships or joint ventures with these businesses.
| Article Code : | VBS/AT/15082022/X_7 |