29 July 2022, Mumbai:
TENCEL™ LUXE on track to achieve strong growth in 2022 as eco-couture movement booms.
Market growth in the sustainable luxury segment largely driven by Gen Z and millennials Greater business opportunity for TENCEL™ LUXE as premium fashion brands extend use of eco-friendly materials
Upcoming collaborations with valued brand partners to boost sales growth further in 2022.
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TENCEL™ LUXE, the unique brand of lyocell filament yarn under Lenzing’s textile specialty brand, achieved a 2021 sales growth of 5 times the volume in 2020 and is on track to increase its existing production capacity by 25% in 2022 to cater to growing demand.
As premium brands are increasingly introducing eco-friendly collections, it presents an area of opportunity for TENCEL™ LUXE to expand its footprint. The luxury sector, which is currently undergoing a sustainability evolution, is also poised to achieve sustained growth of 6 to 8% annually.
Companies, especially those in the luxury and high-end fashion industry, are sourcing green solutions to reshape their value chains – and selecting TENCEL™ LUXE as a highly versatile new generation solution.
“We are seeing a significant shift towards sustainability in the luxury and premium industry, largely driven by the younger generation who are greatly concerned with the future of our planet,” said Vineet Singhal, Vice President Global Business Unit Noble Fibers at Lenzing AG.
“As a result of this rising consumer demand, the TENCEL™ LUXE brand is looking to expand its footprint even further in haute couture, bridalwear, ready-to-wear, denim, activewear, traditional wear, intimate, and red-carpet fashion segments.
We experienced strong sales growth in 2021 and are continuing this momentum into the second half of 2022, with the help of our valued partners.”.
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