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Israel's Delta to close subsidiary kidswear firm
20 Feb '12
1 min read
Delta Galil Industries, a global manufacturer and marketer of branded and private label apparel products for men, women and children, has announced closure of its subsidiary company Delta Kids.
The decision to shut the kidswear firm was taken on account of the company's US branches registering high losses, Issac Dabah, CEO of Delta, said post-presentation of the 2011 cost analysis and the company's projected sales forecast for the current year.
Delta Kids was launched as a separate apparel chain around a year back, but subsequently, the Delta management realized that the store earned more profit while functioning as a unified Delta brand, catering to the whole family, rather than functioning as an individual brand catering only to kids' apparels.
The 2011 cost analysis showed Delta's turnover increasing by 9 percent year-on-year to an estimated US$ 678.8 million.
There was also an increase in the company's operational revenue, which rose by 28 percent y-o-y to US$ 39.7 million. The rise in operational revenue was due to two new additions – Nike and Victoria's Secret – to the brands sold at Delta stores.
During first half of 2012, Delta is planning to open 14 new outlets.
The decision to shut the kidswear firm was taken on account of the company's US branches registering high losses, Issac Dabah, CEO of Delta, said post-presentation of the 2011 cost analysis and the company's projected sales forecast for the current year.
Delta Kids was launched as a separate apparel chain around a year back, but subsequently, the Delta management realized that the store earned more profit while functioning as a unified Delta brand, catering to the whole family, rather than functioning as an individual brand catering only to kids' apparels.
The 2011 cost analysis showed Delta's turnover increasing by 9 percent year-on-year to an estimated US$ 678.8 million.
There was also an increase in the company's operational revenue, which rose by 28 percent y-o-y to US$ 39.7 million. The rise in operational revenue was due to two new additions – Nike and Victoria's Secret – to the brands sold at Delta stores.
During first half of 2012, Delta is planning to open 14 new outlets.
Fibre2fashion News Desk - India
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