MAS Holdings
MAS Holdings is a Sri Lankan apparel and textile group serving global brands through manufacturing, design, innovation, branded businesses and industrial infrastructure.
Last updated August 24, 2026
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Overview
MAS Holdings is a Sri Lankan apparel and textile group whose operations span product development, manufacturing, fabrics, accessories, technology, branded apparel and industrial parks. The business traces its roots to an apparel operation established by Mahesh, Sharad and Ajay Amalean. Before the MAS Holdings identity was established, the founders pooled capital and acquired sewing equipment to create Sigma Industries, then expanded through a joint venture with MAST Industries. The group initially concentrated on underwear and related intimate apparel, but progressively diversified into sportswear, performance clothing, swimwear, athleisure, fabrics and apparel accessories. The company’s development model has combined long-term relationships with international brands, vertically integrated production and investment in design and technical capabilities. Its businesses have supported customers from early concept development through product engineering, material selection, manufacturing and delivery. MAS has worked with major international names including Nike, Speedo and Marks & Spencer, while also developing owned or controlled brands such as amantè and businesses including MAS Intimates, MAS Active, MAS KREEDA, Linea Aqua and Twinery – Innovations by MAS. The group’s intimate-apparel activities include bras, briefs, corsetry and other lingerie products. Its sportswear operations cover performance apparel, sports bras, yoga clothing, sleepwear, T-shirts, underwear, jackets, hoodies and other lifestyle products. Through Linea Aqua, established with Speedo International and Brandot International, MAS developed specialist swimwear manufacturing, including competition products supplied for major sporting events. Its innovation activities have explored wearable technology, health and wellness, digital manufacturing and customization, including connected garments developed with technology partners. MAS also built manufacturing and industrial infrastructure around its apparel operations. Its fabric parks in Thulhiriya, Sri Lanka, and India were intended to support textile production and supply-chain integration. The Thulhiriya site was presented as an environmentally focused apparel-intensive free-trade zone, while the company’s Thurulie facility was promoted as a carbon-neutral apparel manufacturing plant. The group later expanded its production footprint beyond Sri Lanka, establishing or developing operations in countries including Bangladesh, Indonesia, Honduras, Jordan, Vietnam, the United States and Haiti. The group has used international expansion to broaden manufacturing capacity and customer access. In 2016 it announced investment in facilities at Haiti’s Caracol Industrial Park, and in 2017 it acquired Acme-McCrary, giving it a manufacturing and development center in Asheboro, North Carolina. MAS has also opened facilities in northern Sri Lanka, including in Kilinochchi, linking industrial expansion with employment creation. Its design and development network has included hubs in Colombo, New York, London and Hong Kong. In addition to contract manufacturing and product development, MAS Holdings has operated consumer-facing brand activities. amantè was created as an intimate-apparel brand designed for South Asian women and expanded from India into Sri Lanka, Pakistan and the Maldives. In 2014, MAS Brands acquired a controlling interest in Ultimo, a Glasgow-based designer lingerie brand. The group therefore combines business-to-business manufacturing with selected branded and retail-oriented activities. MAS Holdings is private and its financial results, ownership structure and current executive roster are not established in the supplied reference material. The available sources describe a large international workforce and a broad manufacturing network, but those operational figures are tied to particular reporting periods and should not be treated as current without updated company disclosures.
History
The origins of MAS Holdings lie in the Sri Lankan apparel industry of the 1980s. Mahesh, Sharad and Ajay Amalean pooled approximately US$10,000 and acquired 40 sewing machines to establish Sigma Industries. The founders’ early business focused on garment production, particularly underwear and related products. In 1986, the business entered its first joint venture with MAST Industries to manufacture women’s synthetic dresses. The company was formally founded as MAS Holdings in 1987 and used partnerships, manufacturing expertise and customer relationships to build a larger apparel platform. During the 1990s and 2000s, MAS expanded beyond basic garment manufacturing. Its activities developed into intimate apparel, sportswear, swimwear, fabrics, accessories and product-development services. In 2000, the group launched amantèin India, described in the reference material as its first in-house intimate-apparel brand. In 2001, MAS partnered with Speedo International and Brandot International to establish Linea Aqua, creating a specialist swimwear business. Linea Aqua subsequently produced competition swimwear associated with Speedo’s participation in international sporting events, including the 2004 Athens Olympics and the 2006 Melbourne World Championships. The company deepened its sportswear capabilities in the mid-2000s. MAS Active was established in 2005 and developed products including performance apparel, sports bras, yoga wear, sleepwear, T-shirts, underwear and lifestyle clothing. In 2004, Nike formed a strategic partnership with MAS, while MAS KREEDA later became the group’s dedicated Nike manufacturing partner. The KREEDA name is derived from a Sinhala word associated with sport. The business was launched in 2017 and operated manufacturing facilities in Sri Lanka, India and Jordan according to the supplied reference. MAS also invested in materials and industrial infrastructure. Fabric parks were opened in Sri Lanka and India in 2007 and 2008. The Thulhiriya site became a privately owned apparel-intensive free-trade zone in Sri Lanka, while the Indian project was developed through a joint venture on a large site near major transport infrastructure. In 2008, MAS unveiled Thurulie, which it promoted as a carbon-neutral apparel manufacturing facility. These projects reflected an effort to integrate textiles and garment production while making environmental performance part of the group’s manufacturing identity. The group expanded its own brands and innovation functions during the 2010s. amantè was subsequently introduced in Sri Lanka in 2012, Pakistan in 2016 and the Maldives in 2017. In 2011, MAS worked with Marks & Spencer on a lingerie range promoted as carbon neutral. In 2013, the group formally consolidated previously fragmented research and development activities under Twinery – Innovations by MAS, formerly MAS Innovation. Twinery’s work has included wearable technology, health, wellness, digitization and customization, with research links involving international and Sri Lankan universities. A Firefly concept, developed with Flex, embedded flashing lights in clothing for improved visibility and safety. International manufacturing expansion accelerated after 2010. MAS opened or developed facilities in Bangladesh, Indonesia, Honduras, Jordan, Vietnam and the United States, while also establishing operations in Haiti. In 2016, the company announced investment in Haiti’s Caracol Industrial Park. In 2017, its acquisition of Acme-McCrary provided a manufacturing and development center in Asheboro, North Carolina. MAS also opened facilities in northern Sri Lanka, including Kilinochchi, with employment creation presented as one objective. By the period described in the available reference, MAS Holdings had become a multinational apparel group with manufacturing facilities in numerous countries, design and development hubs in Colombo, New York, London and Hong Kong, and a workforce exceeding 100,000 according to a cited 2021/22 figure. Its activities encompass contract manufacturing for global brands, owned brands, textile and industrial infrastructure, and technology-led product development. The supplied material does not establish a current chief executive, precise present-day workforce, ownership arrangement or financial performance, so those details remain unreported here.
- 2017
MAS KREEDA launches
[1]The group launched its dedicated Nike sportswear manufacturing business.
- 2017
Acme-McCrary is acquired
[1]MAS acquired Acme-McCrary, adding a US manufacturing and development center.
- 2016
Investment in Caracol Industrial Park
[1]MAS announced investment in manufacturing facilities at Haiti’s Caracol Industrial Park.
- 2014
Controlling stake in Ultimo
[1]MAS Brands acquired control of the Glasgow-based designer lingerie brand Ultimo.
- 2013
Twinery is formally launched
[1]The group consolidated research and development activities under Twinery – Innovations by MAS.
- 2011
Carbon-neutral lingerie collaboration
[1]MAS and Marks & Spencer created a lingerie range promoted as carbon neutral.
- 2008
Thurulie facility is unveiled
[1]MAS promoted Thurulie as a carbon-neutral apparel manufacturing plant.
- 2005
MAS Active is established
[1]MAS created a dedicated sportswear and performance-apparel business.
- 2004
Strategic partnership with Nike
[1]Nike formed a strategic partnership with MAS Holdings.
- 2001
Linea Aqua is formed
[1]MAS partnered with Speedo International and Brandot International to establish a specialist swimwear business.
Products and positioning
A global, vertically integrated apparel and textile partner combining design, product engineering, advanced manufacturing, sustainability initiatives and selected consumer brands.
Intimate apparel
MAS Intimates
MAS Intimates covers bras, briefs, corsetry and related intimate-apparel products. The business combines manufacturing with design and development capabilities, allowing the group to work with customers from early concepts through product engineering and production.
Sportswear and performance apparel · 2005
MAS Active
Established in 2005, MAS Active produces sportswear, athleisure and performance-oriented apparel. Its described product range includes sports bras, performance tops and pants, yoga wear, sleepwear, T-shirts, underwear, hoodies, jackets and other lifestyle clothing.
Sportswear manufacturing · 2017
MAS KREEDA
MAS KREEDA is the group’s dedicated Nike manufacturing partner. It was launched in 2017 and developed a network of facilities in Sri Lanka, India and Jordan for sportswear production.
Swimwear · 2001
Linea Aqua
Linea Aqua is a specialist swimwear business formed by MAS with Speedo International and Brandot International. It has manufactured competition swimwear and supplied products associated with Speedo’s international sporting-event programs.
Lingerie · 2000
amantè
amantè is an MAS-owned lingerie brand designed for South Asian women. It began in India and later expanded into Sri Lanka, Pakistan and the Maldives.
Wearable technology and apparel innovation · 2013
Twinery – Innovations by MAS
Twinery coordinates MAS’s research and development work in wearable technology, health, wellness, digitization and customization. Its Firefly concept explored garments incorporating connected lighting for improved visibility and safety.
Textile and industrial infrastructure · 2007
MAS Fabric Parks
MAS Fabric Parks provide textile and apparel infrastructure supporting the group’s supply chain. The reference material identifies sites in Thulhiriya, Sri Lanka, and India, including a large Indian joint-venture development.
Marketing campaigns
- 2011Carbon-neutral lingerie range with Marks & Spencer
United Kingdom
MAS partnered with Marks & Spencer on a lingerie range promoted as the first carbon-neutral lingerie product range for the UK high street.
Outcome. The initiative positioned MAS as an apparel supplier experimenting with lower-carbon product and manufacturing claims.
- 2008Thurulie eco-manufacturing initiative
Sri Lanka
MAS unveiled Thurulie and promoted it as a carbon-neutral apparel manufacturing facility.
Outcome. The facility became a prominent example of the group’s environmental positioning in manufacturing.
Brand decisions
2017
Acquisition of Acme-McCraryM&ABackground
MAS sought a stronger direct manufacturing and development presence in the United States.
Action taken
The group acquired Acme-McCrary in Asheboro, North Carolina.
Aftermath
The acquisition became MAS’s first manufacturing and development center in the United States according to the reference material.
2016
Investment in Haiti manufacturingStrategyBackground
MAS continued to diversify its geographic manufacturing base.
Action taken
The company announced investment in manufacturing facilities at Caracol Industrial Park in Haiti.
Aftermath
The investment extended MAS’s production footprint into the Caribbean.
2014
Acquisition of control of UltimoM&ABackground
MAS Brands pursued expansion into branded and designer lingerie.
Action taken
MAS Brands acquired a controlling stake in Ultimo.
Aftermath
The transaction broadened MAS’s activities beyond manufacturing into an established lingerie brand.
2004
Strategic partnership with NikeStrategyBackground
MAS sought to expand its role as a technical sportswear and performance-apparel supplier.
Action taken
Nike formed a strategic partnership with MAS Holdings.
Aftermath
The relationship was followed by the development of MAS KREEDA as a dedicated Nike manufacturing partner.
Recent events
- Unconfirmed
Reliance Retail acquires amanté business[2]
Reported:
Reliance Retail Ventures Limited acquired MAS Brands’ amanté lingerie business, which operates in India and Sri Lanka. MAS said the divestiture followed a strategy to find a partner for businesses outside its core competency.
Rizing completes acquisition of attune Lanka[3]
MAS Holdings announced that Rizing had completed the acquisition of its subsidiary attune Lanka (Private) Limited. MAS said the divestment was intended to find a partner to help the company scale and grow.
HPR and MAS announce manufacturing partnership[4]
Reported:
Health Professional Resources announced a manufacturing relationship with MAS Holdings for HPR-branded PPE products.
HPR announces planned PPE line launch[4]
Reported:
HPR announced that its specialty PPE line, manufactured by MAS, was expected to launch in the first half of 2021; the source reports a plan, not a completed launch.
Sources4 sources
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