Seven for all Mankind, Splenda and Ella Moss are now officially part of the family at Delta Galil, which reported growing profits and sales in the third quarter.
The company’s net income rose 31 percent to $17.7 million from $13.4 million while sales rose 4 percent to $296.6 million from $284.6 million.
In June, the Tel Aviv-based Delta Galil inked a $120 million deal to buy VF Corp.’s contemporary portfolio. The brands, now in place, are expected to add more than $300 million in annual revenues to the new owner’s top line.
Isaac Dabah, chief executive officer of Delta Galil, said the company focused during the quarter on integrating the new brands into its business and “taking important measures and implementing the necessary efficiencies to both streamline and strengthen the brands to best position them for growth.”
Former American Apparel Inc. chief Paula Schneider is running the firm’s new Premium Brands division as ceo.
Dabah said: “Importantly, through this new business segment, we are growing our product offering and entering new categories, which is enabling us to reach new customers as well as strengthen our relations with existing ones – all while expanding our global reach.”
Although the dealmaking scene in fashion has generally been quiet, there are many looking for further consolidation among brands as companies look to focus-in on their core strengths.
Founded in 1975, Delta Galil makes bras, shapewear and socks, underwear for men, babywear, activewear, sleepwear and leisurewear.