RCS - HeiQ PLC - Collaboration Agreement with The LYCRA Company

HeiqAnnouncement

16/07/2021 07:00

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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                                                                       +41 56 250 68 50

 Carlo Centonze (CEO)
 Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)  +44 (0) 207 389 5017

 Charles Cannon Brookes
 Cenkos Securities plc (Joint Broker)                                           +44 (0) 207 397 8900

 Stephen Keys / Callum Davidson
 SEC Newgate (Media Enquiries)                                                  +44 (0) 20 3757 6882

 Elisabeth Cowell / Robin Tozer / Megan Kovach                                  HeiQ@s (mailto:HeiQ@secnewgate.co.uk) ecnewgate (mailto:HeiQ@secnewgate.co.uk)
                                                                                .co.uk (mailto:HeiQ@secnewgate.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
(http://www.thelycracompany.com) .

 

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