Shareholders change

Market environment

The Texaid Group collects more than 80,000 tonnes of used textiles every year and ensures that they are ecologically reused. Of the collected textiles, 40 percent are in too poor condition to be carried on as second-hand clothing. This trend is on the rise given the increase in production and consumption of low cost and poor-quality clothing. In addition, changing legal frameworks pose new challenges for the textile recycling industry. In Switzerland, the cantons and municipalities were already obliged to separate and recycle used textiles when the Waste Ordinance came into force in 2016. The same applies to all EU member states, which must introduce separate collection for used textiles by the end of 2024 at the latest. With this background, Texaid expects a strong increase in collection volumes and a continued decline in the quality of used textiles.

Change in strategic orientation

In the past, Texaid's business model focused on the resale of second-hand textiles and the company was able to generate substantial income for its partner charity organisations as well as numerous local non-profit organisations. Due to changing market conditions, there has been a decline in the second-hand share in recent years, and the future will see continued decline. Due to this development, Texaid's shareholders have critically reviewed the business model and adjusted the strategy. In the future, Texaid will position itself more strongly as an international service provider in the field of used textile collection and recycling and, in particular, expand its recycling business; the company's focus will develop from the collection and marketing of charitable clothing donations to ecological, high-quality collection and recycling of used textiles. As part of this development, the already initiated internationalization will be accelerated and the company plans to invest substantially in collection, sorting and recycling infrastructure in the coming years.

Changed composition of the shareholders

All shareholders of Texaid share the view that the development of the company into one of Europe's leading textile recyclers is strategically correct and ecologically meaningful. However, due to the greater emphasis on recycling than on the charitable aspect of clothing collection, Caritas Switzerland, the Relief Organisation of the Protestant Churches of Switzerland (HEKS), Kolping Switzerland and Winterhilfe have decided to sell their shares. The shares will be acquired by the remaining shareholders, Swiss Red Cross and Solidar Suisse, as well as Savü AG. The cooperation with HEKS, Kolping Switzerland and Winterhilfe will continue until 2026 and they will participate in Texaid's success for the next five years through charitable remuneration.

The remaining shareholders Savü AG, the Swiss Red Cross and Solidar Suisse are looking forward to continuing the more than 40 years of cooperation and successfully developing the company together.

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