Extending its software offer to material traceability, Lectra has signed an agreement to acquire 51% of the capital and voting rights of TextileGenesis. At the beginning of January 2023, Lectra will acquire 51% of TextileGenesis for €15.2 million. The acquisition of the remaining share capital and voting rights is expected to take place in 2 stages, in 2026 and 2028.
»Today, only 19% of fashion industry actors have visibility of their value chain, and this visibility is often partial. If they cannot track the life cycle of certified materials, they will not be able to justify the sustainability of their products.«
Amit Gautam, founder, TextileGenesis
Founded in 2018, TextileGenesis, Bangalore/India, provides a Software as a Service (SaaS) platform that enables fashion brands and sustainable textile manufacturers to ensure a reliable, secure and fully digital mapping of their textiles, from the fiber to the consumer, and thereby guarantee their authenticity and origins. This solution ensures the traceability of customers' entire sustainable textile supply chain in order to meet the demands for transparency, driven by changes in legislation in a growing number of countries and by growing consumer awareness, thereby encouraging sustainable development.
The innovative traceability mechanism, which addresses both ends of the textile value chain, as well as its network of partners for material certification, and its technology platform guarantee the exchange and tracking of reliable and secure data throughout a material's life cycle. Several of the world's most prestigious fashion brands as well as leading sustainable fiber producers are already convinced of the value of this innovative offer, which enables the connection of multiple actors of the sustainable fashion ecosystem on this platform.
Through technology, acquisitions, and partnerships, Lectra SA, Paris/France, aims to empower customers to work in a more socially and environmentally responsible way.
TextileGenesis = trademark