MAS - global market mover focused on sustainability

23 Jan '08

2 min read

In a new report, entitled “Market Movers: Lessons from a Frontier of Innovation,” IFC, a member of the World Bank Group, and SustainAbility tell the stories of four emerging market companies that have pioneered new sustainable business strategies was officially launched on the 11th of December 2007.

Although companies from emerging markets are making their presence felt increasingly in the global business community, only a few are known for their environmental and social management.

The report captures key moments in the companies' histories that determined their strategic directions and motivations. It shows that companies from emerging markets, even more than in developed countries, can lead the way in sustainable innovations, which act as strong market differentiators.

Ethical Manufacturing in a Nutshell:
Despite a violent ethnic conflict and the removal of trade protections under the Multi Fibre arrangement (MFa), this Sri lankan apparel manufacturer has thrived in recent years while championing women's empowerment.

In the mid-1980s, Mahesh Amalean was excited that his small textile business on the island of Sri Lanka had won an order to manufacture dresses out of synthetic fabric for a subsidiary of Limited Brands, a huge American apparel company.

Then a change in quota restrictions meant that he could not fulfill the order. Mahesh had to look around for something else to manufacture.

He and his two younger brothers, Sharad and Ajay, had pooled all their savings a few years earlier and bought 40 sewing machines. They needed to keep them busy.

On a visit to MAST Industries' office in Sri Lanka, Mahesh spotted a Victoria's Secret catalogue on the desk of a senior executive that he was meeting. Victoria's Secret was (and still is) one of America's biggest retailers of fashion lingerie.

Although lingerie was outside the quota system, Sri Lanka had no expertise in dealing with the fine needlework that such products require.

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