Delta Galil buys Bare Necessities, its brands will be sold on the site
Israeli intimates and apparel giant Delta Galil said this week that it has signed a deal to acquire major intimates online retailer Bare Necessities. No terms were disclosed but it said the transaction is expected to close in the next few weeks and be accretive to earnings next year.
Isaac Dabah, CEO of Delta Galil, said the deal “reflects our strategic growth objective to diversify our distribution channels. As the digital space currently represents the fastest growing segment in our industry, we are very pleased to acquire such an authority in online intimates.
“Bare Necessities can significantly enhance Delta Galil’s presence in the digital world, as we continue to pursue growth online. I look forward to partnering with the senior leadership to achieve strong, profitable growth.”
Bare Necessities is a 22-year-old New York-based business that was acquired by Walmart in 2018. It sells more than 160 brands and 6,400 styles in intimates, women’s swimwear, shapewear, lingerie, sleepwear, and hosiery, among others.
The labels it sells include Wacoal, Chantelle, SPANX, Calvin Klein and Miraclesuit, with exclusive collections including Birdsong and Camio Mio.
Importantly for its new owner, the site will also offer Delta Galil’s own brands once the deal is complete. Delta Galil’s labels include Schiesser, Eminence, Athena & Liabel.
The company also designs, develops, markets and sells branded denim and apparel under the 7 For All Mankind label, and womenswear under the Splendid and Ella Moss brands.
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