Adds 7 For All Mankind, Splendid and Ella Moss to Prominent
Portfolio of Brands
Expands Branded Business in Premium Market and Grows Global
Footprint
TEL AVIV, Israel--(BUSINESS WIRE)--Delta Galil Industries, Ltd. (DELT/Tel Aviv Stock Exchange,
DELTY.PK/OTCQX), the global manufacturer and marketer of branded and
private label apparel products for men, women and children, as well as
leisurewear and activewear, today announced that it has signed a
definitive agreement to acquire contemporary premium brands, including
the businesses and brands of 7 For All Mankind®, Splendid®
and Ella Moss® from VF Corporation (NYSE:VFC).
“We are thrilled to be adding three renowned premium
brands to our portfolio, as they further diversify our product offering
and distribution channels, while adding significant strength to our
structure. We see tremendous opportunity to expand the brands’ platform
for growth through continued focus on superior quality, design and
innovation.”
“This transaction reflects our strategic efforts to grow Delta Galil’s
branded business and expand our global footprint,” said Isaac Dabah, CEO
of Delta Galil. “We are thrilled to be adding three renowned premium
brands to our portfolio, as they further diversify our product offering
and distribution channels, while adding significant strength to our
structure. We see tremendous opportunity to expand the brands’ platform
for growth through continued focus on superior quality, design and
innovation.”
The acquisition is projected to add over $300,000,000 in Delta Galil’s
top line annual sales and is expected to be accretive to Delta Galil’s
earnings in 2017. The newly acquired brands join Delta Galil’s prominent
portfolio including P.J. Salvage®, Schiesser, KN Karen Neuberger®,
Nearly Nude®, LittleMissMatched® and FIX.
7 For All Mankind® is the global leader in the premium denim
market, representing the symbol of the effortless, sexy sophistication
of California style. Founded in 2000, the brand now includes a full
range of denim lifestyle products including sportswear, footwear,
eyewear, handbags, belts and kids that complement its core business. Its
products are distributed globally through high-end department stores,
its own retail locations and a robust e-commerce channel.
Splendid® and Ella Moss® are leading U.S. premium
sportswear brands focused on contemporary knit tops, with products sold
through premium department and specialty stores, owned retail stores,
upper market retailers and e-commerce. The Splendid® brand is
known for its luxury knit products using soft fabrics, sexy fit and
modern styling. The Ella Moss® brand is an ultra-feminine knit
tops and dresses collection featuring print and pattern-driven products
in bold, bright colors.
About Delta Galil Industries
Delta Galil Industries is a global manufacturer and marketer of branded
and private label apparel products for men, women and children. Since
its inception in 1975, the Company has continually strived to create
products that follow a body-before-fabric philosophy, placing equal
emphasis on comfort, aesthetics and quality. Delta Galil develops
innovative seamless apparel including bras, shapewear and socks;
intimate apparel for women; extensive lines of underwear for men;
activewear, sleepwear and leisurewear. For more information, visit www.deltagalil.com.
About VF
VF Corporation (NYSE:VFC) is a global leader in the design, manufacture,
marketing and distribution of branded lifestyle apparel, footwear and
accessories. The company’s highly diversified portfolio of powerful
brands spans numerous geographies, product categories, consumer
demographics and sales channels, giving VF a unique industry position
and the ability to create sustainable, long-term growth for our
customers and shareholders. The company’s largest brands are The North
Face®, Vans®, Timberland®, Wrangler®, Lee® and Nautica®. For more
information, visit www.vfc.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements. Actual
results, performance or achievements could differ materially from those
contemplated, expressed or implied by the forward-looking statements
contained herein, and while expected, there is no guarantee that we will
attain the aforementioned anticipated developmental milestones. These
forward-looking statements are based largely on the expectations of the
Company and are subject to a number of risks and uncertainties. These
include, but are not limited to, risks and uncertainties associated
with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies resulting
from terrorist actions, and U.S. actions subsequently; and other factors
detailed in reports filed by the Company.
Contacts
Delta Galil Industries, Ltd.
Nissim Douek, +972-54-5201178
Nissim@unik.co.il
or
VF
Corporation
Craig Hodges, 1-336-424-5636
Senior Director,
Corporate Communications
or
U.S. Media:
Berns
Communications Group
Stacy Berns/Danielle Poggi, 1-212-994-4660
sberns@bcg-pr.com