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Fibres/​Yarns/​Fabrics

Texturing expansion plans for Unifi

Repreve hang tags with co-branding partners have increased 60% year-over-year.

5th August 2021

Innovation in Textiles
 |  Greensboro, NC, USA

Clothing/​Footwear

Unifi’s sales in the three months to June 27th 2021 were up 114% compared to the same period of 2020 and a further 3% up on the previous three-month-period as business continues to rebound.

Sales of Repreve receycled PET fibre products represented 38% of consolidated net sales, compared to 28% for the fourth quarter of fiscal 2020. Gross profit for the quarter increased to $27.4 million, from a loss of $9.5 million for the same period in 2020.

Annual sales for fiscal 2021 for the Greensboro, North Carolina-headquartered company were $667.6 million, compared to $606.5 million in 2020, primarily due to the global recovery from the Covid-19 pandemic.

“The fourth quarter was underpinned by record sales performance in Asia and strong pricing by our Brazil Segment, which achieved a robust gross margin despite pandemic restrictions in April 2021,” said CEO Eddie Ingle. “The Polyester Segment also benefited from further demand recovery, and momentum for Repreve fibre products remains strong as our team continues to grow the portfolio.”

The company now plans to invest approximately $40-45 million in expanding its yarn texturing capacity at plants across the Americas and anticipates a further 10% rise in Repreve sales in the next 12 months.

 “Following the pandemic, many customers began accelerating their commitment to recycled content products,” said Ingle. “In fact, we have seen Repreve hang tags with our co-branding partners increase 60% year-over-year. With consumer demand for sustainable product offerings more popular now than ever before, we continue to believe our innovative and sustainable solutions will be the growth engines that will allow us to meet the evolving needs of our customers. We remain confident in the growth potential of Repreve and our portfolio and expect to reach an even more diverse array of end markets.”

www.unifi.com

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