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Our Approach to Our Planet Changed for Good
Our Approach to Our Planet Changed for Good
Introduction
The MAS Story
From humble beginnings in 1987, with just 26 machines and 60 people in a single facility, MAS has grown into a two-billion-dollar global apparel tech powerhouse, driven by the vision of Mahesh Amalean and his brothers. We reach beyond the boundaries of manufacturing – crafting innovative solutions that push boundaries and redefine the industry.
global apparel tech powerhouse
Our global reach spans 14 countries, with over 100,000 employees and a supply chain of over 50 state-of-the-art facilities and design hubs. We build partnerships with leading brands, and nurture our own innovative labels; addressing real-world needs through diverse divisions: Intimates, Athleisure, Wearable Technology, and more.
Our expertise spans nine distinct divisions: Intimates, Leisure and Athleisure, Training and Performance, Swimwear, FemTech, Wearable Technology, Adaptive Apparel, and Shapewear. We constantly work to evolve and expand our capabilities – from fabric to printing, elastics to lace, and even the most intricate embellishments.
GRI 2-6
Our strength lies in a vertically integrated supply chain, enhanced by strategic acquisitions that bolster our presence. Our worldwide reach extends beyond apparel manufacturing; encompassing industrial parks, innovative brands, and logistics and warehousing solutions. This approach ensures efficiency and sustainability, from fabric to finished garment.
Innovation is at our core. Twinery, our dedicated innovation arm, has pioneered disruptive technologies across materials, lighting, heating, odour-protection and water-repellency. We transform the interaction between humans and textiles by exploring new methods and technologies that make for smarter apparel and smarter ways of making apparel.
Supply Chain Spread
Sustainability is woven into our DNA. We align our efforts with the SDGs and UNGC principles, striving for ethical practices and positive impact across our value chain. We champion long-term change, empowering our people, communities, and the planet; while driving profitable and sustainable growth.
A Global Business for Good
GRI 2-9, 2-11, 2-15, 2-23
Staying true to our corporate purpose to be changemakers, we uphold the highest standards for corporate governance and responsible business. Our robust governance framework and ethical value-based commitment form an essential pathway to creating long-term value for our stakeholders.
We believe that being a global force for good goes beyond statutory control mechanisms and compliance-based adherence to laws and regulations. This is why, at MAS, it is imperative that everything we do creates value for our stakeholders, and is good for our environment, society, and employees. This is the core of our Plan for Change: a long-term commitment to change products, lives, and our planet for good.
Governance Framework
Staying true to our corporate purpose to be changemakers, we are committed to outstanding corporate governance and value driven behaviour. It is our foundation for building an ethical work culture, long-term sustainable value, effective control mechanisms, and compliance with laws and regulations. Our core value system, the MAS DNA, is inherited from our founder members who have built and nurtured this Organisation and are the force that drive our Code of Conduct.
At MAS, it is imperative that everything we do as an organisation to create value for our stakeholders, is aligned with what is good for our environment, our society, and our employees. This is the core of MAS’ Plan for Change, a long-term commitment to our planet, people, and products.
Our exemplary governance is reflected across our leadership; starting from our apex governing body – the MAS Holdings Board. The Board works collaboratively and in consultation with the Apparel and Innovations Boards and Management to develop long-term strategies aligned distinctly with the Organisation’s Purpose, Vision, Mission and Values. Strong oversight is exercised by the Board to drive meticulous execution and operational excellence. In addition to the MAS Holdings and MAS Capital Director Boards, each legal entity has their own Board that provides leadership and drives operational and strategic decision-making relevant to that entity and division.
Through a structured and systematic approach, our Audit Committee provides independent oversight of governance, risk management, and internal control mechanisms, ensuring transparency and accountability.
The governance framework systematically delegates and cascades management and oversight of operations to a number of functions and divisions at Group, SBU, and facility-level.
These functions are supported by a well-defined and routinely reviewed policy framework that addresses the
Group’s material risks and impacts. Together with processes in place for
Sustainability Governance
, which propel our
Plan for Change, this constitutes a comprehensive framework of people and processes that shape our impact on the
wider economy, environment,
and community.
Economic value creation
We strive to be responsible stewards of our financial position and resources, in line with all applicable regulations, to create and deliver economic value for our stakeholders.
MAS Holdings has a strong balance sheet and adequate resources to meet obligations related to retirement benefits
applicable at each of the jurisdictions in which the Group operates. The Company contributes to EPF, ETF, Gratuity,
or similar liabilities according to country-specific statutes and regulations. Read more about what we are doing to
provide
Sustainable Compensation
for our people.
The following functions and financial processes are part of a comprehensive governance framework, under the Group’s Economic and Governance pillars, that addresses business risks and impacts and ensures responsible financial stewardship.
- Independent Audit Committee, with requisite industry experience
- Internal audit (IA) function and an Enterprise Risk Management (ERM) function
- Central and SBU-level finance functions
- Central and SBU-level Human Resources Divisions
- Legal Division
- Tax Team
- SBU-level operational and engineering teams
- Compliance Teams
- Health and Safety, CSR, Sustainability, and ESG teams at each SBU
Changemakers at the Helm
Our leadership has always believed in putting people first, seeking adaptability in a changing world, creating opportunity despite adversity, and embracing change with courage.
Our founders are Mahesh, Ajay, and Sharad Amalean, whose commitment and values are at the very core of what MAS is today.
The
MAS Holdings Board
serves as the
driving force behind the Company’s mission to create positive change. This esteemed Group brings together a wealth
of diverse experience, visionary leadership and strong governance expertise. Composed of Mahesh Amalean, Sharad
Amalean, Eliyas Poleg, Gail Klintworth, and Thomas Zimmerhaeckel, the Board plays a critical role in shaping the
future of MAS. Their leadership embodies the values upon which MAS was founded, ensuring these principles continue
to guide our people, culture,
and overall impact.
The
MAS Capital Board
is a dynamic group
of 10 operations leaders (including the Group CEO), which brings together senior leadership within the Group, and
plays a pivotal role in guiding our success. Their focus leverages well-honed skills and insights to champion bold
initiatives and unlock opportunities for MAS and our customers. By building capabilities across the spectrum, this
Board empowers our changemakers and fuels a culture of continuous innovation.
Together, the MAS Holdings Board and the MAS Capital Board form the backbone of our governance structure. Through
their leadership and engagement with operations, these governing bodies ensure MAS stays on a clear path to
shaping a positive and sustainable future. Further details of our Directors are available on our
Corporate website
.
Board Diversity
GRI 405-1
BOARD DIVERSITY BY GENDER
BOARD DIVERSITY BY AGE GROUP
The MAS DNA
GRI 2-15
Our core value system, MAS DNA, is inherited from our founders who have built and nurtured MAS. It serves as a guiding compass that incorporates our corporate values, aligns with our commitment to ethical and responsible business conduct, and drives our ambition to function as a changemaker and leader – for our people and planet.
VALUES
- Honesty and Integrity
- Trust and Mutual Respect
- Freedom with Accountability
- Humility
- Passion for Excellence
- Entrepreneurial and Innovative
- Giving Back
BEHAVIOURAL PILLARS
- Respecting People
- Protecting Assets
- Valuing Customers
- Sustaining Relationships
- Nurturing Communities
- Competing Ethically
- Complying with the Law
POLICIES
Code of Conduct Related Policies
- Equal Opportunity and
- Anti-harassment Policy
- Conflict of Interest Policy
- Gift Policy
- Social Media Policy
- Confidentiality Policy
- Intellectual Property Policy
Administrative Policies
- Information System Usage Policy
- Flexible Working Policy
- Leave Policy
The MAS Code of Conduct, corporate policies, and system of core values outlined in the MAS DNA, apply to all
employees – from our Directors to operational teams on the ground. These outline standards we uphold, processes
to follow, and targets we aspire to.
Our policies, vision, mission,
and values are detailed at length
on our
Corporate website
.
Our
Social Impact Strategy
describes the Company’s grievance reporting system and redress/remediation processes for internal and external
stakeholders to
raise concerns.
Enterprise Risk Management (ERM)
GRI 2-9, 2-13
The MAS Holdings Board holds oversight responsibility for risk and opportunity management, ensuring the effectiveness of risk management and internal control systems across the Organisation. MAS takes a proactive approach to risk and opportunity management using a comprehensive Enterprise Risk Management structure, which is based on the COSO framework. Our framework acts as our roadmap for identifying, prioritising, effectively managing risks across the entire Organisation. This framework seamlessly aligns with our organisational structure, with specifically classified risk domains and clear risk assessment criteria that ensures consistent application across all risk types. Beyond identification and assessment, the framework extends to risk oversight and reporting. Accountability and responsibility for risk are distributed across the Organisation, ensuring dedicated resources and structured risk review processes across the relevant risk domains. This comprehensive approach is further strengthened by clear lines of oversight within our governance structures, setting the tone for a risk-aware organisation.
As part of this structured approach, ESG-related risks and opportunities are also identified, assessed, and managed through the ERM framework. This ensures that environmental, social, and governance considerations are embedded into our decision-making processes, reinforcing our commitment to sustainable and responsible business practices.
Our core values, embodied in the MAS DNA, inspire a culture of risk awareness and responsible decision-making, which is key to effective risk management. Enterprise Risk Management is seamlessly integrated throughout our strategic planning process. Business objectives, taken from our overall strategy, form the basis for identifying, assessing, and addressing any potential obstacles to our success. The MAS Holdings Board periodically reviews major risk areas and retains overall authority over defining the extent of significant risks MAS is willing and able to undertake in pursuit of its strategic objectives.
Risk Management Framework
