Triumph International AG

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Triumph International AG

Type	Public
Genre	Intimate apparel & sleepwear
Founded	1886
Founder(s)	Braun & Spiesshoffer
Headquarters	Switzerland
Revenue	USD 1,600,000,000 (2006)
Owner(s)	Spiesshofer & Braun
Employees	> 30,000
Website	http://www.triumph.com

Triumph International AG is a manufacturer of lingerie and sleepwear for women and men. Its products are marketed under such brand names as Form & Beauty, Amourette, BeHappy, Triaction, Slipi, Sloggi, Mamabel, Night & Home, BeeDees and HOM. Although founded in Germany, the company is now headquartered in Switzerland. Triumph Int. AG is a German-based firm publicly traded on the FRA; however, Triumph International privately owned in its entirety by the family Spiesshofer & Braun and based out of Switzerland.

Company History

In 1886, founders Braun and Spiesshoffer started operations in a barn in Heubach, Germany. The name "Triumph" was registered as trademark in 1902 and became Europe's largest corsetry manufacturer during the 1930s. In 1933, the company opened its first international branch in Zurzach, Switzerland, where the global holding company is based today. After World War II, the expansion continued in Norther Europe, and on to Southern Europe, Asia and the Middle East during the 1960s. The corporate structure was decentralized, a business strategy that enabled customers in each country to be served by locally based designers and business partners with particularly strong commitments to regional fashion trends and cultural conditions. During the 1970s, the company entered the Brazilian markets, took over ´House of Jenynsª in Australia and launched licensing production in South Africa. Production, sales and export subsidiaries were founded in the Philippines and Thailand, together with licensed sales operations in Indonesia and a subsidiary in Chile; production works in China followed in 1980. In the last fifteen years, the company has added countries, including Uruguay, Canada, New Zealand, Korea, Sri Lanka and Vietnam, and in Eastern Europe, Hungary, Poland, the Czech Republic, Slovenia and Russia. It has established production plants with ultra-modern technology in Bangkok and Morocco, and - heralding the opening of the Chinese market - opened branches in Shanghai and Peking, while continuing to operate its first production plant in Heubach.

Triumph Company Timeline Triumph Company History

Historical Financial Information

Triumph Financial Statements from Business Week Online

Business Strategy

Year over year, Triumph International AG has seen revenues remain relatively flat ($371.4M to $368.6M), though the company was able to grow net income from $15.1M to $15.9M. A reduction in the percentage of sales devoted to selling, general and administrative costs from 23.68% to 21.84% was a key component in the bottom line growth in the face of flat revenues.

Political and Public Influence

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Corporate Accountability

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Labor

Triumph's manufacturing plants are consistently anti-labor and courts in its Asian factories regularly rule in favor of the company over workers. In the fall of 2008, a Manila, Philippines court ruled that the Triumph workers did not have the right to strike as negotiations with the company began to collapse.

On July 29, 2008, Jitra Kotshadej, the president of the Triumph International Labor union, was terminated for “damaging” the reputation of Body Fashion Thailand, a subsidiary of Triumph International. This stemmed from a television appearance five months earlier when Kotshadej wore a shirt reading “Those who do not stand are not criminals. Thinking differently is not a crime,” a statement referring to the right to not stand when the royal anthem is played. From July 30 through September 13, the 2000 workers at Body Fashion staged a 45 day strike to reinstate Kotshadej. Triumph International took the case to court. Meanwhile, it agreed to rehire the workers who walked out in support of Kotchadej without disciplinary action, with one month’s back wages. However it refused to reinstate Kotchadej, only agreeing to pay her back-wages. Her dismissal was upheld by the court. On September 23, the labor court agreed to retry the case. Body Fashion will continue to pay her wages until her appeal is finalized. Kotshadej is awaiting retrial on November 17. Meanwhile, workers who participated in the strike are not being assigned work and are therefore denied much-needed bonuses.

For more information on the dispute involving Kotshadej's dismissal, see "Workers Fighting Back Against Triumph Lingerie"

Campaigns:

• 1999 dispute in Thailand: The labor union at Triumph International of Thailand Ltd. said in a statement Triumph had closed their factory in Bang Plee in the outskirts of Bangkok on July 17. They want the company to give them an 8% wage rise for the coming two years, according to officials from the labor ministry. The company, which makes swim suits, sportswear and lingerie under the Triumph brand, as well as for adidas, Jockey, and other brands, had informed their 5,000 workers management decided to cut their wage increases in the next three years.
• 1999 dispute in Philippines: BPMTI (Triumph union) went on strike last November 18, 1999 after reaching a deadlock on CBA negotiation. The union demands for a P140.00 total wage increase over the next three years with increase on other economic benefits, while the Company offered a CBA package of P45 wage increase without any additional on the current benefits. Union officials also expressed concern over the management's strategy to pattern its dealings with its Philippine workers with the labor dispute in its Thailand plant. Triumph International Philippines also manufactures for Marks & Spencer, Mast, and Victoria's Secret.
• 2001: protests against Triumph's refusal to quit production in Burma, including 1.5 km of barbed wire bras hung at the companies Belgian offices. Company closes factory in 2002.

Environment

"Triumph International's philosophy is that the environment should be given the same high level of importance as the company's economic and social concerns.In December 1998, Triumph received the Best Environment Management award from Austrian Industry not long after gaining ISO 14001 and EMAS certification.Triumph International AG Austria also received certification of its conversion to 'environmental-conscious innovations, ideas and production processes that represent all humanistic and ecological standards' under OEKO-TEC STANDARD 1000. The company was the first in Austria and the third in Europe to fulfill all the certificate's criteria," states on its website.

Social Responsibility Initiatives

Triumph International's Code of Conduct:

"As an internationally operating company, Triumph International employs staff all over the world. That's why we are aware of the exceptional responsibility borne by employers in the age of globalization. We've anchored this social responsibility in our Triumph Code of Conduct."

Environmental Responsibility:

"As a global company we act responsibly with respect to our environment. And the application of ecological standards often turns out to be a source of innovations, both in the products themselves and in the manufacturing process. This is why we are constantly testing our environmental protection measures and rapidly implementing any new findings we make. Numerous programs integrate studies of environmental compatibility as well as the separation and recycling of waste, and we are also constantly looking into how we can make do with less packaging material. We also implement energy-saving concepts at all Triumph International locations in order to reduce CO2 emissions. As early as 2003, we were given the prestigious German B.A.U.M. Environmental Award for our many years of consistent commitment to environmental and consumer protection issues.

We also offer our consumers the chance to wear their environmental awareness next to their skin. We use the latest, ecologically certified materials for our collections. In addition, in 2008, the Triumph brand is presenting the first lingerie collection in biodegradable elastane. There is also a sloggi range in which the fabric has not only been medically tested for body compatibility and freedom from pollutants but is also manufactured from certified organic cotton – for our customers this means that quality of life is truly within their grasp."

Business Scope

Triumph's products span women's intimates and casual apparel, though women's underwear accounted for 81% of the company's revenue in 2005. Triumph International AG manufactures these products and distributes them through its sole subsidiary, Triumph International Vertriebs-GmbH.

Brands

• Triumph
• Sloggi
• Bee Dees
• Vaisere
• HOM
• Form & Beauty
• Amourette
• BeHappy
• Triaction
• Slipi
• Mamabel
• Night & Home

Suppliers

Company produces in a range of countries, including China, Malaysia, Hungary, Philippines, Thailand, Sri Lanka, South Africa, Vietnam, Tunisia, South Africa.

Identified suppliers:

• Seardel (South Africa)
• Bodyline (Sri Lanka)
• Triumph/Body Fashion (Thailand)

Customers	Suppliers	Creditors	Competitors
Customer 1	Supplier 1	Creditor 1	Competitor 1
Customer 2	Supplier 2	Creditor 2	Competitor 2
Customer 3	Supplier 3	Creditor 3	Competitor 3
Customer 4	Supplier 4	Creditor 4	Competitor 4

Financial Information

Ticker Symbol: TRI
Main Exchanges:FRA:OTH
Investor Website:

Shareholder	% Total Shares held
Shareholder 1	% Held 1
Shareholder 2	% Held 2
Shareholder 3	% Held 3
Shareholder 4	% Held 4

Largest Shareholders

Triumph International operates in dozens of countries worldwide, its business divided geographically Europe, Asia, Africa, America, and Austrailasia.

Country	Revenue	Profits	Assets	Employees
Country 1	Revenue 1	Profit 1	Assets 1	Employees 1
Country 2	Revenue 2	Profit 2	Assets 2	Employees 2
Country 3	Revenue 3	Profit 3	Assets 3	Employees 3
Country 4	Revenue 4	Profit 4	Assets 4	Employees 4

Governance

Board members & affiliations

• Wolfgang Spiesshofer, chairman of supervisory board
• Dieter Braun, vice chairman of supervisory board
• Gerhard Geuder, member of management board
• Wolfgang Schulze, member of management board
• Gerhard Reimer, member of supervisory board

Contact Information

Promenadestrasse 24
Zurzach
Switzerland
Tel.: +41 (56) 269 91 91
Fax: +41 (56) 269 92 03
Web site: http://www.triumph.com

Articles and Resources

External Resources

• Interview with Jan Rosenberg, Head of Global Marketing and Sales for Triumph International Ltd.