End of year in LTP Garment: Thank you for 2022
As the end of the year is coming closer, we want to thank our customers and partners meanwhile sharing some milestones we have achieved during 2022
Even though it was a turbulent year due to the war in Ukraine, the energy crisis in Europe, global raw material delays and brands moving out of China, we have reached a significant success in different areas of our business. Among other, we have acquired two new factories in Romania and made heavy investments to expand our capacity in Vietnam.
Next year it will be of the utmost importance for us to ensure a strong delivery performance, work further on our sustainability strategy, keep innovating and digitalizing our services.
Thank you for trusting us as your manufacturing partner.
Strong growth in Vietnam
In 2022 LTP Garment Vietnam grew by almost 100% largely driven by our existing customers. Continued disruptions in supply chains and out of China strategy encouraged our customers to consolidate their manufacturers and choose fewer but stronger partners. Teaming up with manufacturing partners to sharpen supply chain strategies becomes more important than ever.
Moreover, to meet an increased customers’ demand, LTP Vietnam is expanding in-house capacity by building mezzanine floor in the current factory in Ho Chi Minh City. This would allow us to gain +50% in-house capacity and ensure strong delivery performance and possibility to on-board new customers in 2023.
European expansion – new factories in Romania
After a strong growth in Europe in 2021, our main goal was to ensure strong delivery performance to our customers in 2022. However, the war in Ukraine forced the re-routing of our production, as our own factory in the west part of Ukraine could not work at the full capacity since then. Luckily, we were already in process of acquiring two new factories in Romania, which will secure to grow and serve our customers in the coming years. Read more about the Grand Opening of our two new factories in Romania here.
LTP employees support for Ukraine
Since the war started, LTP and its employees created a lot of initiatives to support Ukraine. LTP Group not only made a monetary donation to Ukraine but also allowed our employees in Lithuania to volunteer during working hours. Moreover, our Lithuanian colleagues were staying after work to weave webs, knit socks, sew under-helmet caps and triangular scarves, ties for Ukrainian soldiers. We would like to say thank you to all LTP employees for their strong contribution.
Sustainability at the core of our business
This year, LTP published its first Sustainability Performance Report for 2021. The report summarizes our 2021 sustainability performance and presents our new defined 2025 sustainability strategy. Sustainability today is fully integrated into our corporate strategy to continuously meet our overarching commitment: Consciously Crafted.
n this report, we also explain what sustainability means to us. We aim to clarify this complex topic by breaking it down in to 4 areas we are working with in parallel. We also focus our efforts by acting where it really matters under our sustainability commitments: Care for People, Fight for Climate, Embrace Circularity and Unlock Transparency. You can read the report here.
Focus of digitalization. LTP 3D For Increased Precision and Sustainability
With sustainability being a priority for brands and customers, 3D design has the potential to cut back on sampling rounds and shipping, and at the same time to cut costs and increase speed to market. In our sampling rooms we have been working with a wealth of our sportswear customers developing their styles in 3D for more than 2 years and, therefore, we understand the needs of the active market and would welcome the opportunity to discuss how we can support you in exploring the benefits of 3D design. You can read more in our latest article about 3D design here.
LTP developed App to support brands with transparency
Based on BoF-McKinsey State of Fashion 2023 Survey, sustainability presents the biggest opportunity to the fashion industry in 2023. Therefore, we believe, that our brands will remain focused on sustainability projects. To support our customers in this journey, we have developed a web-enabled app that can be tailored to individual brands and is designed specifically for the end-consumer and is accessible via QR codes featured on labels and hangtags. The concept and toolbox are intended to amplify authentic sustainable products and support brands with transparency. Equipping consumers with a clear understanding of how products are made and what role they can play to best maintain them in use and close the consumption loop. Read more about the concept here.
LTP’s 360° Innovation book
The 360° Innovation book has become a place for suppliers to introduce their latest “super materials” and pioneering developments. The resource is created as part of the companies Value Added Services which are strategically developed to provide brands with the tools to drive new and exciting innovations, and therefore, it is available exclusively to LTP customers. Read more about the launch of our 360° latest Innovation Book here.
LTP participated in majority of the industry’s fairs
Twice per year LTP participates with a booth at the Performance Days in Munich. It is a great opportunity for us to meet our current and potential future customers and partners. You can read more what trends we spotted at the latest Performance Days here.
Besides Performance Days, you will find a big LTP team in ISPO Munich. We also visit Eurobike in Frankfurt and ourselves organize London Sports & Outdoor Network Days.
LTP is a Danish owned garment manufacturer for +60 premium brands within active sportswear, cycling, outdoor, urban performance, performance running and organic & lifestyle apparel. LTP was established in 1991 and now spans two continents - Europe and Asia with 6 fully owned factories. Our European Innovation Centre is located in Kaunas, Lithuania and our Asian Innovation Centre is located in Ho Chi Minh City, Vietnam. We have a bluesign partner factory in all 5 countries where we operate (Lithuania, Ukraine, Romania, Belarus and Vietnam).
LTP consists of two divisions; LTP Garment and LTP Furniture producing in twelve fully-owned factories.
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