OCEANR expands its sustainable yachting clothing brand with acquisition of ex-Adidas factory
by OCEANR 25 Jan 2023 14:38 PST
What began as a collaboration with a garment factory in Latvia has ended up in acquisition for Ireland's OCEANR. The fast-growing sustainable clothing brand completed its takeover of a 1,600 square metre production facility in early December, paving the way for further expansion in 2023.
The deal includes the garment factory near Riga, which was previously producing high-quality sailing apparel under licence for Adidas. But it also brings on board the factory's existing staff of 60 people, who are evenly split between manufacturing and product development. And it is in fact this broad spectrum of new skills which most excites OCEANR founder and CEO, Tom Cotter.
"We are delighted to have completed this acquisition, retaining all the local staff," says Cotter. "It gives us valuable security over our own production, shortening lead times and supply chains. And it means that we now have an incredible team of sourcing specialists and product designers used to operating at the level required for a major brand. It is an excellent fit for our existing team of 15 based in Cork, Ireland."
OCEANR is experiencing rapid growth, doubling turnover in 2022, as demand for its range of superyacht and luxury resort clothing takes off. Cotter is targeting more modest sales growth of 30 per cent in 2023, and the newly acquired factory in Latvia is the key to achieving it. He is planning to expand the workforce by 25 per cent, double production volumes and transform the Riga operation into a European centre of excellence for sustainable manufacturing.
With the focus on social sustainability as well as the environment, the new staff members have just had a 10 per cent raise to help them manage the ballooning cost of living. "One of our first actions post-acquisition was to organise an awards night in Riga for all our staff old and new," says Cotter. "It was a fantastic night and a statement of our real ambitions for the Latvian operation. There is a rich history of skilled garment making here and we are excited to be a part of its future."
OCEANR is founded on environmental principles, with the conviction that sustainable and recycled fibres should be used as widely in its garments as technology allows. The manufacturer works mainly with yarn made of certified organic cotton or recycled polyester reclaimed from old drinks bottles. It is also experimenting with low-impact exotics like 'leather' made from pineapple leaves or a corn derivative, as well as hemp and Tencel.
With every garment sold, OCEANR pledges to remove a kilogram of plastic from the ocean through its partnership with the non-profit Enaleia. This social start-up funds Greek fishermen who collect ocean plastic, while teaching them how to fish more sustainably at the same time. By the end of this year, OCEANR will have diverted the equivalent of 525,000 plastic bottles from the sea.
OCEANR is also expanding partnerships aimed at recycling and reusing old fabrics. It already has a scheme in place that allows customers to return garments at the end of the season to be mended. "We take back clothing, repair what we can and recycle what we can't," says Cotter. "Shredded old garments go into car seat stuffing through the Riga centre. Or they can use old uniforms in the stuffing for a pillow. Then we give the client a 5% discount against a replacement garment to encourage the circular principle."
Existing clients include a growing number of superyacht crews, including those of the 88m yacht Infinity and the elegant J-Class yacht Endeavour, built in 1934 to contest the America's Cup. Customers ashore include Necker Island, Ritz Carlton and Four Seasons resorts.
OCEANR is planning more new partnerships in the coming year, following in the wake of its Sustainability Hub, launched with the Water Revolution Foundation in September 2022. It also works with other brands, such as Doyle Sails, to transform offcuts into bags, and thus reduce the amount going into waste streams.