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VF Corp completes sale of 3 brands to Delta Galil
27
Aug '16
courtesy: Delta Galil
courtesy: Delta Galil
VF Corporation, a global leader in the design, manufacture, marketing and distribution of branded lifestyle apparel, footwear and accessories, has completed the sale of its Contemporary Brands businesses to Tel Aviv, Israel based Delta Galil Industries. Splended, Ella Moss, and 7 for All Mankind are the three brands that are included in the transaction.

The completion of sale follows the June 30, 2016 announcement by VF that it had entered into a definitive agreement with Delta Galil regarding the sale of these businesses.

The acquisition is projected to add over $300 million in apparel marketer Delta Galil's top line annual sales and is expected to be accretive to Delta Galil's earnings in 2017.

Founded in 2000, 7 For All Mankind offers a full range of denim lifestyle products plus 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 is known for its luxury knit products using soft fabrics, sexy fit and modern styling. Ella Moss is an ultra-feminine knit tops and dresses collection featuring print and pattern-driven products in bright colours.

VF will continue to have some large brands in its diversified portfolio. These include The North Face, Vans, Timberland, Wrangler, Lee and Nautica. (RKS)

Fibre2Fashion News Desk – India

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