Brand VerifiedSri Lanka

MAS Holdings (Pvt) Ltd

MAS

MAS Holdings (Pvt) Ltd is a Sri Lankan apparel and textile manufacturing group - the country's largest apparel manufacturer and, in its own words, "the largest apparel tech company in South Asia" - producing intimate apparel, sportswear and wearable technology for global brands.
MAS is headquartered in Sri Lanka; it was founded in 1987 by Mahesh Amalean with his brothers Sharad and Ajay Amalean. It began with 26 sewing machines and 60 employees in a single facility and has grown into a group with annual revenue of about US$2 billion, described in its own reporting as a "two-billion-dollar global apparel tech powerhouse".
The group's latest published impact report covers 2024. MAS states a global reach spanning 14 countries - including Sri Lanka, India, Bangladesh, Indonesia, Vietnam, China, Hong Kong, Singapore, Jordan, Kenya, Haiti, the Dominican Republic, the UK, Canada and the USA - with a supply chain of more than 50 manufacturing facilities and design hubs, manufacturing plants in ten countries and design houses in five. Total average headcount was 96,488 employees in 2024 (down from 100,457 in 2023), and the workforce is overwhelmingly female: 67,622 women against 28,866 men in the 2024 average.
Its product expertise spans divisions including Intimates, Leisure and Athleisure, Training and Performance, Swimwear, Shapewear, Adaptive Apparel, FemTech and Wearable Technology, backed by vertically integrated fabric, lace, elastics, printing and embellishment capability. MAS partners with brands such as Nike, lululemon and Calvin Klein, and also owns market-leading labels of its own. Its innovation arm, Twinery, develops electronics-integrated and fibre-based apparel technology.
In the industry, MAS is a contract manufacturing powerhouse rather than a consumer brand: it couples scale in cut-and-sew and textile production with an unusually strong published sustainability and workforce programme, including 40% of 2024 revenue generated through products it classifies as sustainable.

Business Nature

A globalized manufacturing giant primarily OEM/ODM production. South Asia's largest apparel and textile technology manufacturer.

Core Business Areas

Loungewear & Sleepwear — Core Research Category Sleep Sets: — Core Business: Large-scale production for brands such as M&S and VS Robes: Homewear: — Core Business Involving: Athleisure loungewear, modal or silk premium nightgowns.

Industry Rankings

4Brand Rankings in the Bathroom Fixtures Industry

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6Manufacturer Rankings in the Bathroom Fixtures Industry

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8Manufacturer Rankings in the Home Decor Industry

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Corporate Report

MAS Holdings is South Asia's largest apparel and textile manufacturing conglomerate, headquartered in Colombo, Sri Lanka. Founded in 1987 and privately held by the Amalean family, the company operates as a leading OEM/ODM manufacturer serving premier global brands. With estimated annual revenue of approximately $2.15 billion in 2025, MAS has established itself as an indispensable partner to international fashion and sportswear brands through its vertically integrated supply chain capabilities.

Core Business

MAS Holdings operates primarily as a design and manufacturing solutions provider for the global intimate apparel and activewear industries. The company's absolute core competency lies in innerwear and intimate apparel, where it serves as Victoria's Secret's largest global supplier, producing over 350 million units of bras, underwear, and loungewear annually. Beyond intimate apparel, MAS has built significant scale in sports and performance wear, functioning as a strategic manufacturing partner for Nike with an annual output exceeding 120 million sportswear garments. The company also produces swimwear, socks, sleepwear, and home garments under its diversified portfolio. A critical differentiator is its MAS Matrix technology fabric division, which develops advanced materials including antibacterial fabrics, smart heating textiles, and cycle-friendly performance textiles that cater to the functional and sustainable fashion segments.

Global Presence

MAS Holdings maintains manufacturing operations across 16 to 17 countries, spanning South Asia, Southeast Asia, the Middle East, Africa, and North America. The company operates an estimated 53 to 61 manufacturing facilities globally, with 41 factories concentrated in Sri Lanka as its primary production hub. Additional significant production capacity exists in India, Bangladesh, Indonesia, Vietnam, Jordan, Kenya, Haiti, and the United States. As of 2025, the company employs approximately 102,000 workers worldwide, with women representing approximately 70% of the workforce. The geographic diversification strategy enables MAS to offer near-shore manufacturing options for North American and European clients while maintaining cost advantages through its established Asian production base. The company has also established a rapid-response design-to-delivery center in North Carolina, USA, through the digital integration of its acquired Acme-McCrary assets.

Key Strengths

MAS Holdings exemplifies the concept of "manufacturing as brand" by maintaining an exceptionally complete vertical supply chain that spans fabric research, dyeing, production, and finished garment packaging—all under unified operational oversight. The company's Plan for Change 2030 initiative demonstrates industry-leading sustainability commitment, having achieved 39% renewable energy coverage in 2025 with a roadmap to 100% carbon neutrality by 2030. Its digital transformation program, featuring collaborative robotics and AI-driven production scheduling, has delivered an 18% improvement in per-line manufacturing efficiency. Recognized with the Sri Lanka Green Impact Award in 2025 for breakthroughs in biodegradable textiles, MAS continues to differentiate itself through innovation-led manufacturing that attracts premium brand partnerships and sustains its dominant market position in intimate apparel and activewear supply.

VerityRank Score

VerityRank Score of 81/100

VerityRank Score

81/ 100

Based on market presence, financial scale, operational capacity, and brand strength.

Quick Facts

Headquarters

Colombo, Western Province, Sri Lanka

Founded

1987

Employees

102K+

Factories

53+ Factories

Listing

Private / Unlisted

Data Sources & Methodology

This corporate profile is compiled from publicly available sources including company annual reports, SEC/regulatory filings, official press releases, and verified third-party industry databases. Financial figures reflect the most recent fiscal year disclosures and are cross-validated across multiple independent references.

VerityRank Score is calculated using a proprietary multi-dimensional model evaluating market presence, financial strength, operational scale, innovation capacity, and brand influence. Individual dimension scores are normalized against industry peers and updated quarterly.

Disclaimer: This profile is for informational purposes only. VerityRank makes no warranties regarding completeness or timeliness. This content does not constitute investment advice or endorsement.

Key references: Refer to the official company website and public filings.

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