MUMBAI (16 November 2016) — The region’s largest weft knit textile manufacturing company (formerly known as Textured Jersey) has unveiled its new corporate brand: Teejay. The new brand articulates the vibrancy within the group and the collaboration it brings to every aspect of its operations.
Delivering synergy through unification, the parent company Teejay Lanka PLC will bring its acquired entities under the group brand name, and the acquisitions will now go by the names of Teejay Prints and Teejay India. Bill Lam, chairman of Teejay and head of Pacific Textiles, Hong Kong said that he was proud of the group’s achievements. “Teejay has come a long way from the time the company was first launched 16 years ago. Not only has it been a great partnership from a purely business point of view, but what this company has accomplished from then to now has been phenomenal. Rebranding as Teejay is another step in the right direction. It will give the group a special identity and a platform that I am sure will inspire it to reach greater heights.”
Speaking about some of Teejay’s recent achievements, the chairman said that being named one of Asia’s 200 best companies with under a billion dollars in annual revenue by Forbes for 2016–2017 was no mean feat. The company has also been listed among the top 30 companies in Sri Lanka by Business Today magazine and has been among LMD’s top 50 companies based on annual turnover. Teejay has just reported a net profit increase of 47 percent and a topline increase of 48 percent during the first half of 2016, which marks an impressive nine continual quarters of profit growth for the company.
Teejay CEO Sriyan de Silva Wijeyeratne says the rebranding exercise was aimed at creating a unique modern brand to reflect the dynamism and energy of its combined team. “The new Teejay logo and brand is more in line with our new persona as a group; it is a new birth for a youthful company. While we have a rich history to fall back on, as a combined operation we have become stronger, and we now bring different skills to the table that make us industry-ready and more equipped to take on the challenges of the future. Although the milestones achieved are a testament to that, it is our customers and partners who have propelled our team to greater heights with their inputs and direction. That is why we needed a new brand that is inspiring and distinctive, one that resonates with the new direction in which we are headed.”
Teejay’s new logo and its elements resemble a fraction of the group’s DNA, which mirrors its core belief of creating bonds with each one of its stakeholders. It also reflects the new personality traits it will carry forward: being passionate, committed, progressive, and approachable.
Sriyan says, “Our brand story revolves around the relationship between fashion and fabric. We are relentless about building bonds that last. We have a combination of European, Indian, Chinese, and Sri Lankan talent and now these employees become part of a global corporation. We want to develop the idea of service in manufacturing by creating bonds that really matter. Going forward we will concentrate on becoming more sustainable. We are already investing more in technology, and innovation is at our core. We are equipped to handle the future dynamics and trends in the textile industry, especially with the new demand for synthetics and digital prints. We are ready to embrace change.”
While Teejay has already conceptualized and launched a sustainable livelihoods program under the theme “Thirasra Mehewara” for the development of adjacent communities, the group’s sustainable footprint focuses more on forestation and waste management. Teejay has made history once again by announcing the launch of its new carbon neutral fabric range to coincide with its debut as a new brand. This has been an outcome of extensive research over several months with consultants and partners.
The rebranding process was handled in India by internationally renowned brand consulting and design firm Landor in collaboration with Brand Finance in Sri Lanka. In speaking about Landor’s approach to creating Teejay, Lulu Raghavan, managing director of Landor Mumbai, noted, “When we evaluated the company, we found there was a central focus around its customers, with whom the company is warm, open, sincere, and empathetic. Teejay was delivering more than just expertise in fabric. Overall, this rebrand was a collaborative team effort. Teejay was passionate about treating its customers’ business as its own, working closely with them for the long haul. We wanted to create a brand that resonated with that idea. ‘Teejay’ is a youthful expression that reflects its identity. What’s most heartening is that the management team views the brand as a key driver of business transformation and value creation for the company.”
Teejay is listed on the Colombo Stock Exchange and supplies some of the best international brands across the world. The group is backed by shareholders from two leading industrialists: Pacific Textiles, a Hong Kong–based company with one of the largest manufacturing facilities in China, and Brandix Lanka, which is Sri Lanka’s largest apparel exporter servicing the world’s finest brands and partners with Teejay as a strategic link in its supply chain.
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