Lectra has announced to acquire 51 per cent stake in a SaaS company TextileGenesis to accelerate the development of sustainable material traceability solution and deepen the knowledge of the textile value chain in the fashion industry.
TextileGenesis – founded in 2018 – 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 fibre to consumer, and thereby guarantee their authenticity and origins.
Commenting on the development, Amit Gautam, Founder of TextileGenesis, said, “Fashion is one of the most fragmented industries due to its long and complex value chain, which makes it opaque to brands, suppliers, subcontractors and consumers. Today, only 19 per cent of fashion industry actors have visibility of their value chain, and this visibility is often partial. Many brands, especially those that have set ambitious sustainability goals, face a real challenge in terms of supply chain transparency. If they cannot track the life cycle of certified materials, they will not be able to justify the sustainability of their products.”
It’s worth mentioning here that several of the world’s most prestigious fashion brands as well as leading sustainable fibre producers are already using TextileGenesis’ innovative solution, which enables the connection of multiple actors of the sustainable fashion ecosystem on this platform.
“Having the highest ethical standards, guaranteeing the well-being of our employees, and preserving the environment are embedded in Lectra’s DNA and guide our daily decisions. Through our technology, acquisitions and partnerships, we aim to empower our customers to work in a more socially and environmentally responsible way,” mentioned Daniel Harari, Chairman and Chief Executive Officer of Lectra.
At the beginning of January ’23, Lectra will acquire 51 per cent of TextileGenesis for € 15.2 million. The acquisition of the remaining share capital and voting rights is expected to take place in two stages, in 2026 and 2028, for an amount that will be calculated based on a multiple of the 2025 and 2027 recurring revenues.
In 2021, Lectra had acquired companies like Gerber Technology, Neteven and Gemini CAD systems.
