The Lycra Company news and archive

Lycra enters restructuring to eliminate 1.2 billion dollars in debt

US-based fiber and technology provider Lycra has announced a restructuring support agreement (RSA) with a significant majority of its creditors. The move aims to eliminate approximately 1.2 billion dollars of long-term debt and establish a sustainable capital structure to position the firm for long-term financial stability. The RSA has received...

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The Lycra Company opens second production facility in China

US fibre manufacturer The Lycra Company opened its largest spandex factory in the world in the Chinese city of Yinchuan on Friday. “This milestone underscores the company's continued investment in the Chinese market and highlights its strong commitment to building localised supply and distribution networks, as well as promoting advancements in...

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Lycra Company appoints new chief operating officer and executive vice president, product

The Lycra Company is restructuring its leadership team. Robert Johnston has been promoted to chief operating officer (COO), while Doug Kelliher has been appointed executive vice president, product, the company announced on Thursday. Both managers will report directly to CEO Gary Smith. For Johnston, this is a promotion from his previous role as...

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Melissa Riggs promoted to CMO at The Lycra Company

The Lycra Company, fibre and technology solution provider for the apparel industry, has promoted Melissa Riggs, director of marketing, North America to the role of chief marketing officer (CMO). Riggs brings more than two decades of brand-building experience in consumer packaged goods and the apparel and footwear industries to her new role,...

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The Lycra Company now manufactures a fibre made from industrial maize

For The Lycra Company, moving away from petroleum-derived elastane to a bio fibre derived from industrial corn is a complete paradigm shift. For the fashion industry, it's a ray of hope. Particularly from an eco-responsibility point of view, as lycra is present in most contemporary garments. Lycra, a biosourced, patented and renewable fibre,...

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Gary Smith to join as CEO of The Lycra Company

The Lycra Company has appointed Gary Smith as the company’s new chief executive officer, effective November 27, 2023. Smith, the company said in a release, will replace Dean Williams who has served as acting CEO since August. Williams will continue in his role as chief financial officer and assist with the transition. Smith, the company added,...

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The Lycra Company announces new ownership

Textile fibre manufacturer The Lycra Company has announced that a group of financial institutions have gained full control of the company after a series of enforcement actions against its previous owner, Ruyi Textile and Fashion International Group Limited. The group, comprising Lindeman Asia, Lindeman Partners Asset Management, Tor Investment...

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The Lycra Company falls into hands of creditors

The Lycra Company, an elastic textile fibre manufacturer, has fallen into the hands of creditors, according to a new ruling by an Amsterdam court. Initially reported by Dutch publication, the Financial Daily, the creditors involved are hoping to sell Lycra for at least 450 million dollars. The company was acquired by Chinese fashion firm...

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The Lycra Company launches online customer portal

Apparel solutions organisation The Lycra Company has launched an online portal aimed to encourage brands, retailers and garment makers to connect to a global network of mills. Entitled Lyrca One Online Network Exchange, the platform was developed to efficiently connect retailers with mills and manufacturers in a virtual capacity, enabling users...

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The Lycra Company names new co-CEOs

The Lycra Company has announced the appointment of its chairman Yafu Qiu and chief commercial officer Julien Born as its new co-CEOs. It follows the retirement of David Trerotola, who has been at the helm of the innovative textile company since 2019 following its acquisition by Ruyi Group. He spent 20 years at the business overall. Taking his...

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Lycra announces Material Health certificates for 25 fiber products

The Cradle to Cradle Products Innovation Institute has awarded Material Health Certificates at the Gold Level to 25 fiber products by Lycra. These certifications assure customers of transparency about each product’s ingredients and suppliers, and will be valid for the next two years. “Our goal was to make a step-change toward safe, fully...

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Lycra's first recycled EcoMade fibers earn GRS Certification

Lycra today announced a new certification status for two of its EcoMade fibers.The fiber and technology solutions company has introduced its first lines of spandex made from pre-consumer recycled materials - the EcoMade fibers Type 166E and 162E, which have been certified to the GRS (Global Recycled Standard). Currently produced in Brazil,...