Looks like we will have to live with the pandemic. What steps have you taken / are taking to ensure it does not continue to impact your business? Specific cases might include raw material supply, workforce, cashflow issues.
The impact on business will continue. The supply chain was heavily affected by the pandemic and the increase in costs on every side is impacting in a very strong way. The impact on the cost structure comes from raw materials, logistics, energy and cost of labour. In raw materials, we could see the increase in all materials that we use—cotton, cellulosic fibres, polyamide and the abnormal case of Spandex. Logistics have also had an impact on cost, increasing prices threefold. How can the end-customer be kept in mind while incorporating all these cost factors remains doubtful.
Last year, we tried to buy big quantities so as to guarantee the delivery of all our customers’ orders, even though it brought us a bigger stock value and a bigger risk. Regarding the workforce, every day we need to adapt to a new situation. From the beginning of the pandemic, we have had a restricted contingency plan and we never stopped production. No one knew who would have COVID-19 tomorrow or who might need to stay at home because a son or husband would be infected. It was the perennial doubt that brought in the necessity to be agile with the process. But it all seems to be getting better.
How is Impetus placed in the textiles/fashion industry in Portugal? What has been your growth story?
In 1973, Emília and Alberto Figueiredo created a small textile business. Today—a few decades later—the Impetus Group has become one of the leading companies in the textiles sector worldwide. Six people, four machines and a family dream have become the launching pad for an industrial and commercial presence with a truly global dimension. Driven by almost half a century of experience and a commitment to customers and the community, the Impetus management team stands solidly on a family base, with a new generation that believes in the same values. Today, we are proud to have one of the most complete vertically-integrated structures in Europe, supported by several departments, which include R&D and logistics. The improvement of this structure guarantees us the flexibility and capacity to offer customers service of the highest quality and adjust to their needs. Our purpose is to dress the world with a second-skin tech-tailor wear that fits a sustainable future for all. We call it second skin tailoring. It’s our first priority.
You are a vertically integrated unit. Are you also into exports and as a supplier to other brands/manufacturers in Portugal? Kindly elaborate. Do you manufacture for other brands too?
Our turnover is mainly for exports—almost 95%. We work/export for our own brands and licensees, but also for other brands all over the world. But that’s mainly in the US and Europe markets.
Of all the brands, which one has been faring the best? What are the plans for each of your brands?
For our brands, Impetus itself is the one that stands out in the markets. It’s our more established brand and already has a loyal customer base all over the world. We also have IAM, which is our trendy brand—more audacious for the younger fashion consumers. The path has been developed through communication strategies, influencers, highlights in stores through furniture and window displays, and advertising. Although our main markets are Portugal, Spain and France, we have a global presence in the main departmental stores and specialised retailers.
