Textile traceability investment for Lectra
Technology provider Lectra is to acquire a majority stake in TextileGenesis; it will buy 51% of the capital of the Dutch company.
Founded in 2018, TextileGenesis provides a software platform that enables fashion brands and textile manufacturers to have digital mapping of their materials, from the fibre to finished garments. Apparel brands and their suppliers can use the technology to guarantee the authenticity and origin of their products.
“Many brands, especially those that have set ambitious sustainability goals, face a real challenge in terms of supply chain transparency,” said the founder of TextileGenesis, Amit Gautam, at the time of the announcement. “If they cannot track the lifecycle of certified materials, they will not be able to justify the sustainability of their products.”
For its part, Lectra said it intended to join forces with TextileGenesis to accelerate the development of its material traceability solutions and “deepen our knowledge of the textile value chain in the fashion industry”.
Lectra will pay €15.2 million for 51% of TextileGenesis, with the transaction going through in January.
It said it expects to acquire the remaining share capital and voting rights of TextileGenesis in two further stages, one in 2026 and the other in 2028.
