99Degrees, a Lawrence, Massachusetts based performance activewear manufacturer, launched in 2013 to build a future model of US advanced apparel manufacturing, has entered a strategic partnership with Reliable Source Industrial (RSI), through a Series A financing round. RSI is a global manufacturing leader in technical activewear for premium brands.
RSI produces over 60 million units per year and employs over 10,000 associates worldwide.99Degrees, a Lawrence, Massachusetts based performance activewear manufacturer, launched in 2013 to build a future model of US advanced apparel manufacturing, has entered a strategic partnership with Reliable Source Industrial (RSI), through a Series A financing round. RSI is a global manufacturing leader in technical activewear for premium brands.#
This investment and strategic partnership comes at an exciting time for the apparel manufacturing industry. Global supply chains are rapidly shifting due to changing consumer demand. Advances in automation, digitisation, and new production technologies open the opportunity for apparel manufacturing to re-shore in the United States. To better meet market needs, a new service model is needed to scale in the US while competing in a fast-changing global industry. 99Degrees is building that future model – focused on speed, innovation, flexibility, and advanced technologies with support from RSI resources and industry network.
This financing will support 99Degrees’ strategic growth while building out flexible quick turn production lines to serve both global and emerging activewear brands and an advanced concept incubation center for wearable technologies.
99Degrees’ CEO, Brenna Schneider, said, “I can’t imagine a better partner to help us scale, create meaningful jobs in the Merrimack Valley and make Lawrence Massachusetts a key epicenter of forward-thinking US apparel manufacturing. From the moment I met Amy and the RSI team, it was clear that we share the same vision for the industry’s future. We are thrilled to draw on RSI’s unparalleled manufacturing expertise and technical know-how while building a model designed for US manufacturing – one based on speed, innovation, and advanced technologies.”
RSI’s CEO, Amy Hsu, shares Schneider’s view. “Brenna’s vision aligns closely to RSI’s strategic direction and we share her values, including social responsibilities to the local community. Her passion, entrepreneurship, and leadership are the key ingredients for a successful company, and together we believe we can offer the industry a new service model, one predicated on speed, innovation, and quality to better service the activewear apparel industry. Furthermore, we are proud to invest in a woman-owned, woman-led business that will have an important impact on skilled job creation in Lawrence and nearby communities.” (SV)
Fibre2Fashion News Desk – India
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
