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government-trade

In Brief: Grote Promoted At Esprit … House Passes Bahrain FTA … Delia’s Inc. Public Again

A brief look at some of the day's stories.

GROTE PROMOTED AT ESPRIT: Thomas Grote, joint global chief operating officer of Esprit, has been promoted to president of the brand. Grote, whose promotion is effective Jan. 1, will continue to report to Heinz Krogner, deputy chairman and group chief executive officer. Grote will be responsible for the brand’s operations, including the wholesale, retail and licensing businesses. Additionally, the chief operating officers for retail, wholesale and organization will report to Grote. He joined the group in 1990 as key account manager of the accessories division. At the annual meeting of Esprit Holdings Ltd. in Hong Kong last Friday, Krogner said he will stay with the group and retain his current role for at least two more years.

HOUSE PASSES BAHRAIN FTA: The House approved a free trade pact with Bahrain on Wednesday. The Middle East island nation exported $182.7 million worth of apparel and textiles to the U.S. for the year ended Sept. 30, mostly in cotton sheets and trousers, accounting for just 0.2 percent of all such products imported into America. The agreement contains a yarn-forward rule of origin that requires apparel to contain either yarn and fabric from the U.S. or Bahrain to receive duty-free treatment, as well as an allowance of 65 million square meters equivalent of cotton and man-made apparel and fabric outside of the U.S and Bahrain for 10 years.

DELIA’S INC. PUBLIC AGAIN: Delia’s Inc., a subsidiary of Alloy Inc., will go public in a spin-off. Shares of Delia’s are expected to begin trading under the Nasdaq National Market on Dec. 19 under the symbol “DLIA.” Alloy will continue to trade on the Nasdaq under its own symbol, “ALOY.” Delia’s, a lifestyle brand targeting teen girls ages 12 to 19, was acquired by Alloy in October 2003. Prior to that, Delia’s had been a public company.