Global denim manufacturer Isko recently signed a landmark technology licensing agreement–specifically for the US market–with Soorty, a specialized denim and garment manufacturer. The collaboration is expected to combine Isko’s expertise in creating patented technologies with Soorty’s ability in vertical denim and garment manufacturing.
Through this partnership Soorty will produce denim and garment collections using Isko’s Future Face patented technology.
The SPIN OFF asked Marco Lucietti, director of strategic projects at Isko, about this new collaboration and about what new business model the two companies will focus on.
What are the aims of this newly signed agreement?
We are proud to be the first to create this type of cooperation between competitors in the industry by bringing a new business model to the market, this time focusing on the US market only. It’s a collaboration that reflects the times we are living in and the constant evolution of systems. The increasing focus on sharing economy models has resulted in rethinking the old ways of exchanging goods and services, as well as placing a strong emphasis on sustainability. Even consumers are part of this dynamic, and it would not be wrong to say that the pandemic has stressed even further the necessity of these new ways of working.
This is a new era for the textile industry: as leader in this industry, we feel it’s our responsibility to pave the way by sharing our knowledge, expertise and, as in this agreement, our patented technologies. Our main goal is to provide our customers with the best service possible and to make these innovations available at different levels for the entire global market. It is a scenario where business is elevated from being a mere matter of price, to finding partners to work with in order to create authentic value for everyone.
How will Isko benefit from this agreement?
This specific partnership with Soorty allows us to approach different markets and learn new ways to grow in the way we manage and handle them. Through this agreement we can cater–even more than before–to a new level and range of consumers while looking for new ways to improve responsibility across the industry, together with a partner that shares our same values.
At Isko it is important to constantly improve ourselves and raise the bar for the industry. And sharing has always been key to making this vision a reality since the development of a better supply chain is not an option. This new business model represents a very important landmark, as it allows us to create stronger connections and make room for further improvements and a greener future.
The agreement has definitely benefits for both parties. Isko has the opportunity to learn from Soorty and Soorty has the very same opportunity to learn from us. It’s a virtuous circle, meant to enhance both sides.
Is this new collaboration the first step that could, eventually, lead to an acquisition of Soorty from Isko’s side or to an eventual reciprocal exchange of quotas?
Not at all. This is a technology licensing agreement to implement a new business model based on cooperation between competitors, and our first collaborative effort under this agreement is the launch of the Isko Future Face by Soorty collection. Created by using our innovative Isko Future Face technology, it is produced by Soorty specifically for the US market. It is possible that, in the future, this model could be extended to other innovations in our portfolio.
When will the new Isko Future Face by Soorty selection be available for the market?
It will be available from fall/winter 2022-23. It will be entirely developed by Soorty’s creative team and Isko's creative hubs and sourcing network, which will work side by side to make sure the final result is up to the highest standards in terms of looks, quality and sustainability.