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Hyosung TNC supplies 'eco-friendly material' to Osprey, 'the world's No.1 backpack' brand in the U.S.

Tue Sep 01 10:18:15 KST 2020

Hyosung TNC has started supplying eco-friendly material to ′Osprey′, which is the world′s No.1 backpack brand in the United States, as part of its plan to make a foray into the global eco-friendly textile markets.
 MIPAN®regen robic developed by Hyosung TNC is the world′s first eco-friendly heavy-duty nylon thread. It is a material made using recycled textile byproduct. It is light and excels in tearing intensity and durability of abrasion. Thus, it is fit for outdoor products like backpack, work clothes, or bathing suit. Recycled nylon fabrics are counted as the leading eco-friendly materials considering the fact that the production of every kilogram reduces greenhouse gases by 6 to 7kg.
In the last quarter, Hyosung TNC started supplying MIPAN® regen robic to Osprey.
Osprey plans to introduce ′Talon / Tempest Series′, which is its flagship backpack line adopting MIPAN® regen robic, to the market next spring.
At the ISPO, known as one of the world′s top 3 leading sports fairs, held in February 2019 in Munich, Germany, the American backpack manufacturer asked Hyosung TNC, which had supplied ordinary robic to it, to make an eco-friendly and heavy-duty product. After a little over a year of R&D, Hyosung TNC succeeded in the production of MIPAN® regen robic which could meet Osprey′s requirements.
Looking at the Americas and Europe, which are premium markets, businesses′ demand for eco-friendly goods to be used in their products is increasing rapidly in connection with the need to enhance their corporate value. And the EU plans to adopt the Carbon Border Adjustment, which will impose carbon tax on imported goods releasing a lot of greenhouse gases.
The global eco-friendly textile market is growing at the rate of about 10% a year and is expected to reach the $70 billion (=83 trillion won) mark by 2025.1) In step with such a trend, Hyosung TNC′s sales in eco-friendly textile has posted a higher than two-fold annual increase since 2017. The company plans to make forays into the global markets with its eco-friendly products such as MIPAN® regen (nylon), regen (polyester), and creora regen (spandex).
Commenting on the matter, Hyosung Chairman Cho Hyun-Joon said, ″Customers ask businesses for a high-level recognition and sense of responsibility related to environment. We at Hyosung will continue to expand products, materials, and business models that can realize eco-friendly values based on our Green Management Vision 2030.″
Osprey is the world′s No.1 brand, whose global backpack market share comes to 43%. Its products are known for their lightness in weight and durability. Business observers say that it is differentiated from the other brands in the market in terms of innovativeness, use of environmentally friendly materials, the speed of developing new products, and high productivity.