MAS Holdings

What MAS Holdings does

MAS Holdings is a Sri Lanka-headquartered, privately held apparel-tech conglomerate founded in 1987 by the Amalean brothers (Mahesh, Ajay, and Sharad), operating as a vertically integrated concept-to-delivery solutions provider for global apparel brands. The company runs manufacturing operations across 13 countries with 115,000+ employees, producing intimates, activewear, swimwear, shapewear, athleisure, adaptive apparel, FemTech, and wearable technology products for clients including Victoria's Secret, Nike, lululemon, Calvin Klein, Speedo, Triumph, Patagonia, and Walmart. Its vertically integrated ecosystem spans raw materials (Trischel Fabrics, Noyon lace, Silueta thermal moulding, Stretchline elastics, Prym accessories) through innovation (Twinery with proprietary Phoenix thermal, Dryvantage water-repellent, Lifecycled biodegradable polyester, Firefly illumination, and Planetones natural dye technologies) to logistics (Hellmann MAS Supply Chain joint venture, MAS ACME), shared services (MAS Legato), and consumer brands (amante, Softmatter, Femography).

The business model combines contract manufacturing (B2B apparel production with major global brands) with vertically integrated materials supply, digital product creation services using 3D prototyping (Browzwear, Clo3D, Optitex), supply chain orchestration and 4PL logistics, BPO shared services, and emerging consumer brands. Pricing is not publicly disclosed as the company operates under bespoke contract manufacturing arrangements; the 13-country geographic footprint, ~95,000-115,000 employee base, and descriptor as a '$2 billion product co-creation partner' place MAS among the largest apparel manufacturers globally. GTM motion is enterprise field sales to global brand owners augmented by strategic partnerships (Hellmann logistics JV, Trent/Tata retail JV in India, Toray advanced materials JV). Sustainability commitments are central to commercial positioning: Plan for Change 2030 targets 75% revenue from sustainable products, 75% of wet processing facilities are bluesign-aligned, and the company has committed to Net Zero by 2048. Recent strategic moves signal aggressive geographic and vertical expansion, particularly into India (multiple JVs and a 2025 groundbreaking), Femtech/wearables, and circular textile supply chains via HeiQ AeoniQ and Ambercycle partnerships.

Name

MAS Holdings

Legal name

MAS Holdings (Private) Limited

Website

https://masholdings.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

MAS Holdings is a Sri Lanka-based, vertically integrated apparel-tech conglomerate founded in 1987, manufacturing intimates, activewear, swimwear, shapewear, Femtech, and wearable technology for global brands like Victoria's Secret, Nike, and lululemon across 13 countries with 115,000+ employees.

Ownership category

akta.pro rank

Product category

Apparel Manufacturing

NAICS

Apparel Manufacturing (315), Cut and Sew Apparel Manufacturing (except Contractors) (31525), Textile Product Mills (314), Apparel Accessories and Other Apparel Manufacturing (31599)

SIC

Apparel & Other Finishd Prods Of Fabrics & Similar Matl (2300), Knitting Mills (2250)

akta.pro primary industry

Apparel Sourcing, Buying Houses & Trading Companies (CRAAAAAN)

akta.pro secondary industries

Greige Woven Fabric Mills (IMAOABAA), Tops & Shirts Cut & Sew (T-Shirts/Shirts/Blouses) (IMAOAEAE)

Keywords

• Apparel manufacturing
• Intimate apparel solutions
• Athleisure wear production
• Smart textile innovation
• Apparel supply chain

Headquarters

HQ city

Battaramulla

HQ country

Sri Lanka

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Apparel Manufacturing: Concept-to-delivery manufacturing of lingerie, sportswear, sleepwear, swimwear, athleisure, shapewear, adaptive clothing, Femtech, and Healthtech products for global brands.
2. Vertical Integration Materials & Components: Internal manufacturing of fabrics, lace, bra cups, elastics, trims, and accessories for self-supply and external customers.
3. Logistics & Supply Chain Services: Warehousing, distribution, 4PL services through Hellmann MAS Supply Chain joint venture, and supply chain orchestration through MAS ACME.
4. Digital Solutions & BPO Services: 3D prototyping, digital product creation, data science-led supply chain orchestration, and shared services/BPO through MAS Legato.
5. Consumer Brands: Direct-to-consumer brands including amante (lingerie brand), Silueta, Softmatter (wearable technology), and Femography.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

MAS Holdings is a vertically integrated global apparel-tech conglomerate that provides concept-to-delivery manufacturing solutions for the world's leading apparel brands. The company designs, develops, and manufactures intimates, sportswear, athleisure, swimwear, shapewear, adaptive apparel, wearable technology, and Femtech products, while also offering proprietary textile technologies, fabric production, supply chain orchestration, and logistics services through its ecosystem of subsidiaries.

Product overview

MAS Holdings is a global apparel-tech conglomerate providing concept-to-delivery solutions for the world's leading apparel brands. The company operates as a vertically integrated ecosystem spanning design, product development, manufacturing, and logistics. Core product categories include Intimates, Leisure & Athleisure, Training & Performance, Swimwear, and Shapewear, alongside specialized divisions for Wearable Technology, FemTech, Health Tech, and Adaptive Apparel. Manufacturing verticality includes Trischel Fabrics (synthetic fabrics), MAS Fabrics-Matrix (knit apparel), Linea Intimo (seamless knit), Noyon Lanka (lace), and Silueta (thermal moulding/bra cups). The company portfolio includes subsidiary brands Softmatter (wearable technology), Femography (femtech), MAS Legato (BPO services), MAS ACME (supply chain orchestration), MAS Athena (training), MAS Fabric Park (industrial parks), Twinery (innovation hub), and MAS KREEDA (activewear). Key textile technologies include Phoenix (thermal regulation), Dryvantage (water repellent), Firefly (illumination), Lifecycled (biodegradable polyester), and Planetones (natural dyes). The company serves major global brands and offers digital product creation services using 3D prototyping technologies.

Differentiator

Problem solved

Functional benefit

Brands

• Silueta: Thermal moulding and silicone application technology for bra cups and shapewear
• Softmatter
• MAS Legato
• Twinery
• MAS Athena
• Femography
• MAS Fabric Park
• Noyon
• amante

Products and services

• Intimates (Lingerie) Manufacturing Large-scale contract manufacturing of bras, briefs, and men's essentials incorporating the latest fashion, technology and materials. Manufactured for global intimate apparel brands such as Victoria's Secret, PINK, Calvin Klein, Triumph, Marks & Spencer, Hanes Brands, Soma, MeUndies, Skims, and Jockey.
• Leisure & Athleisure Apparel Design, development and manufacturing of functional and fashion-forward leisure and athleisure products including yoga wear, gym wear, track suits, sweatshirts, polo shirts, and tank tops for activewear brands.
• Training & Performance Wear Performance wear including sports bras and activewear designed for comfort and movement, managing moisture and regulating body temperature. Manufactured for performance brands such as Nike, lululemon, Athleta, New Balance, Gymshark, and Patagonia.
• Swimwear Manufacturing Competitive and fashion swimwear, guards, and board shorts manufactured for swimwear brands including Speedo International for Olympic-level competition swimwear.
• Shapewear Manufacturing Shapewear products leveraging unique and patented capabilities with technology that prevents riding up and provides invisible edges, including Silueta thermal moulding technology.
• Wearable Technology Products Smart textiles and connected clothing developed through the Softmatter vertical, at the intersection of soft goods and wearables for consumer health and consumer technology applications.
• FemTech Products Specialized products for women's health including menstruation and urinary incontinence products, menstrual pain solutions, menopausal products, and maternity products. MAS positions itself as first organization with full range capability in this category.
• Health Tech Apparel Healthcare apparel solutions including products for management and recovery, using in-depth understanding of consumer needs to help protect, manage and speed up recovery.
• Adaptive Apparel Apparel designed for persons with disabilities and limited mobility, incorporating design thinking to address mobility restrictions and emotional pain points of conventional clothing.
• MAS Legato BPO Services Shared services and BPO solutions delivering services across Finance, Human Resources, Analytics, and Automation to internal MAS entities and external clients.
• MAS ACME Supply Chain Orchestration Supply chain orchestration connecting brands and retailers with intelligent sourcing, end-to-end logistics (DDP, 3PL-5PL, FTZ) and advanced analytics including U.S. FTZ staging and last-mile services.
• amante Lingerie Brand Direct-to-consumer intimate apparel brand operated by MAS Holdings, providing lingerie products through owned retail and digital channels.

Quantifiable outcome

• 75% of revenue from sustainable products target by 2030
• +3 more outcomes

Named customers25 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature10 records

Partnerships

22 partnerships are on record, tiered core, major, strategic and minor.

• Hellmann Worldwide LogisticscoreStrategic or Co-development Partner · 1 January 2018Joint venture Hellmann MAS Supply Chain (HMSC) established in 2018 for contract logistics and 4PL services in Sri Lanka. Launched new 8,000+ sq metre fashion logistics hub in Kimbulapitiya near Bandaranaike International Airport supporting regional distribution across Asia, Africa, and Europe with sustainability features including solar panels.
• Victoria's Secret & Co (VS&CO)coreStrategic or Co-development PartnerLong-term strategic partnership as one of the world's largest lingerie brands. MAS serves as major vendor for Victoria's Secret and PINK product lines.
• Triumph Universal AGcoreStrategic or Co-development PartnerStrategic partnership with leading global intimate apparel brand Triumph.
• Stretchline Holdings LimitedcoreTechnology or IntegrationWorld's largest manufacturer of narrow elasticated fabric and major supplier of covered elastomeric yarn, textile coating and bonding solutions.
• Speedo International LimitedcoreStrategic or Co-development PartnerStrategic partnership for swimwear manufacturing including Olympic competition swimwear.
• Trent Limited (TATA Enterprise)coreStrategic or Co-development PartnerJoint venture with Tata Group's Trent Ltd. in India for market expansion. Strategic retail partnership.
• Prym Intimates Group LimitedmajorTechnology or IntegrationWorld's leading manufacturer of customised lingerie accessories supplying leading fashion brands. Prym Intimates Lanka supplies hooks, eye tapes, soft seals, shoulder straps, rings, slides, ribbon bows and bra wires.
• Cascale (Technical Advisory Council)majorStrategic or Co-development PartnerMAS Holdings participates in Cascale's Technical Advisory Council providing structured guidance on sustainability measurement tools including Higg Index, Better Buying, and Sustainable Furnishings alongside Patagonia, Columbia Sportswear, and WWF.
• The Lycra CompanymajorStrategic or Co-development PartnerHolds exclusive distribution rights for HeiQ AeoniQ yarn technology developed with MAS and other partners.
• AmbercyclestrategicStrategic or Co-development PartnerCircular polyester offtake agreement for sustainable textile materials supporting circular economy initiatives.
• Kornit DigitalstrategicStrategic or Co-development PartnerStrategic partnership between Kornit Digital and MAS ACME USA enabling agile fashion and apparel production through on-demand digital printing technology.
• BAM KnittingstrategicStrategic or Co-development PartnerNew venture with BAM Knitting for manufacturing expansion and capabilities.
• Prym Intimates LankamajorTechnology or IntegrationSri Lanka partner for lingerie accessories manufacturing, part of world's leading Prym Intimates Group.
• Trischel FabricscoreTechnology or IntegrationSynthetic fabric manufacturer capable of warp and weft knitting, dyeing, finishing and printing. Produces functional, luxurious and performance fabrics for lingerie, swimwear, sportswear and athleisure.
• HRH Princess Anne VisitmajorStrategic or Co-development PartnerHRH Princess Anne visited MAS Holdings as first stop on her Official Visit to Sri Lanka, recognizing MAS as benchmark for sustainable and ethical manufacturing.
• Global Fashion AgendastrategicStrategic or Co-development PartnerCollaboration at Global Fashion Summit for sustainability in fashion industry. MAS participates in discussions on sustainability implementation and resilience building.
• National Olympic Committee of Sri LankamajorStrategic or Co-development PartnerOfficial clothing partner for Sri Lanka Athletics until 2028 Olympics. Also partner for National Paralympic Committee.
• Sri Lanka CricketminorStrategic or Co-development PartnerOfficial clothing sponsor for 2023 ICC Women's T20 World Cup.
• Sri Lanka Tennis AssociationminorStrategic or Co-development PartnerMAS Active and Sri Lanka Tennis Association partnership to elevate Sri Lankan tennis.
• UN Global Compact Network Sri LankastrategicStrategic or Co-development PartnerMAS Holdings invited to be Patron of the Diversity & Inclusion Working Group of UN Global Compact Network Sri Lanka.
• Asian Development BankstrategicStrategic or Co-development PartnerADB delegation visited MAS Fabric Park to discuss development initiatives and sustainable manufacturing.
• ToraystrategicStrategic or Co-development PartnerToray-MAS Holdings joint venture for advanced apparel manufacturing in Odisha, India as part of India's textile hub development.

Scale indicators10 records

Recent moves9 records

Expansion highlights7 records

Market position

Competitive moat6 records

Key highlights8 records

Customer concentration

• Xx.com/masholdings
• YouTubeyoutube.com/channel/UCENNIATRP-VeRFRydvwZsXA
• Facebookfacebook.com/masholdingssl
• LinkedInlinkedin.com/company/18236
• Instagraminstagram.com/mas_holdings

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MAS Holdings