Innovate or Dye: How Matex International Innovates for Sustainability

Matex International Ltd, a Singapore-based manufacturer of specialty chemicals and dyes, is committed to spending up to 10% of its sales on research and development (R&D), particularly on the development of state-of-the-art dyes and processing processes. more environmentally friendly dyeing. This despite the increasingly competitive macroeconomic environment and the long-term need to improve shareholder value. Dro Tan, Matex CEO, explained how open innovation is an integral part of the company’s DNA. Furthermore, innovation was not only a central part of Matex’s unique selling proposition, but also its competitive strategy. Dro said the company’s R&D agenda was influenced by the needs of its customers. It was also highlighted that the launch of a new product is largely determined by market conditions, and the governments and laws they passed were an important factor. For example, Matex’s newest product, Megapro ECO®, a revolutionary dye that works completely without salt, would not have received a push to market if it had not been for the stricter environmental laws of China, the export market. world’s largest textile, in 2015. The case examines how innovation actually occurs in the process and examines how Matex has integrated sustainability into its overall strategy with innovation as a vehicle.

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