Collaboration Agreement with The LYCRA Company

RNS Number : 4381F

HeiQ PLC

16 July 2021

 

16 July 2021

HeiQ Plc

("HeiQ" or "the Company")

Collaboration Agreement with The LYCRA Company

HeiQ and The LYCRA Company take textile performance to unprecedented levels

HeiQ Plc (LSE: HEIQ), an established global brand in materials and textile innovation that operates in high-growth markets, announces that it has signed a collaboration agreement to take textile performance to unprecedented levels with The LYCRA Company, a billion dollar global company known for its innovative and sustainable solutions for the textile, apparel, and personal care industries.

· The collaboration will lead to the launch of many new innovative, quality-enhancing and sustainable textile technologies addressing needs for stretch, antimicrobial, freshness, warming and cooling. HeiQ's finished-based innovations and The LYCRA Company's branded fibers and fabrics will be marketed jointly by both companies to each of the companies' international customer-bases. This will take HeiQ's innovative and sustainable innovations to new audiences with a high-profile partner.

· The first innovation will be launched in Q3 2021, combining HeiQ's freshness and antiviral benefits with the quality and comfort of The LYCRA Company's stretch fabrics, bringing a new dimension of comfort and confidence to consumers.

o  This will initially be marketed to yarn processors, fabric mills, garment producers, brands and retailers in China, with the launch planned at the Intertextile show in Shanghai at the end of August.

· The companies will work together to develop additional consumer-branded innovations in the stretch, cooling and warming, freshness and sustainability market spaces to address consumer demand for quality, durable, and sustainable garments.

Carlo Centonze, co-founder and CEO of HeiQ, said:

"This collaboration with one of the world's most recognisable ingredient brand names in fashion is a strong endorsement of the work we do to improve the lives of people through textiles and materials innovations. On listing, we stated that we would achieve growth through increased penetration of our core innovations and by strongly increasing consumer awareness of the HeiQ brand. This landmark agreement is completely in line with this strategy. We are excited to take our brand to loyal customers of The LYCRA Company, whose name is recognised by consumers around the world due to the quality and efficacy of their fibers and fabrics, starting with the largest textile industry in the world, China. Not only does today's agreement demonstrate the continued call for antimicrobial technology despite the vaccine roll-out, it also highlights the ongoing demand for our high-performance textile technologies which helps regulate temperature and provide comfort in an environmentally friendly way."

Steve Stewart, Chief Brand and Innovation Officer at The LYCRA Company, said:  

"We are pleased to announce the launch of this collaboration, the culmination of conversations that began two years ago. By combining the strength of both companies, we will continue to drive meaningful innovation within the textile industry, delivering new solutions at a quicker pace to a broader audience."

Julien Born, President & CEO at The LYCRA Company said:

"The collaboration is based on a strong foundation of common values and philosophies shared by our two companies. We look forward to exploring the natural synergies between us and uncovering new solutions for the apparel industry."

For further information, please contact:

HeiQ Plc Carlo Centonze (CEO)	[phone]
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker) Charles Cannon Brookes	[phone]
Cenkos Securities plc (Joint Broker) Stephen Keys / Callum Davidson	[phone]
SEC Newgate (Media Enquiries) Elisabeth Cowell / Robin Tozer / Megan Kovach	[phone] HeiQ@s ecnewgate .co.uk

About HeiQ

HeiQ is focused on improving the lives of billions of people world-wide by innovating the materials people use every day. It is an IP-rich pioneer which is at the forefront of global technology in the $10 billion antimicrobial fabrics and $24 billion textile chemicals market. It has also moved into the medical device, healthcare and probiotics markets, to help make hospitals and healthcare environments more hygienic.

HeiQ has created some of the most effective, durable and high-performance technologies and textile effects in the market today, which cool, warm, dry, repel, purify, and destroy viruses. Since 2005, HeiQ has developed over 200 technologies in partnership with 300 major brands. It has won multiple awards and gained a strong reputation for sustainability.

Led by an experienced management team, HeiQ rapidly researches new solutions for partners, quickly delivers scaled up manufacturing from its sites across the world and helps partners market the product to end consumers - aiming for lab to consumer in months.

HeiQ aims to deliver growth for its shareholders through a combination of increased sales of its core products and by entering additional lucrative markets through disruptive innovations and M&A. It has a healthy R&D pipeline containing over 40 projects.

About The LYCRA Company

The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries. Headquartered in Wilmington, Delaware, The LYCRA Company is recognized worldwide for its innovative products, technical expertise, sustainable solutions, and unmatched marketing support. The LYCRA Company owns leading consumer and trade brands:  LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX®, and TACTEL®. The LYCRA Company's legacy stretches back to 1958 with the invention of the original spandex yarn, LYCRA® fiber. Today, The LYCRA Company focuses on adding value to its customers' products by developing unique innovations designed to meet the consumer's need for comfort and lasting performance. For more information, visit www.thelycracompany.com .

 

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