VF sells contemporary brands - sportstextiles: Lea SportsTextiles

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VF sells contemporary brands

01/07/2016
VF Corporation has agreed to sell its contemporary brands - 7 for All Mankind, Splendid and Ella Moss – to Israeli textile company Delta Galil Industries. The transaction is expected to be completed by the third quarter of 2016 and is valued at $120 million.

“We are pleased to have reached this agreement,” said VF chairman and CEO Eric Wiseman. “The brands included in this transaction are leaders in their sectors, and have talented, passionate people who are motivated by serving the marketplace with distinctive apparel design and exceptional service.”

Mr Wiseman added that the sale was part of VF’s “focused and proactive” review of the its business portfolio in order to maximise the company’s growth.

VF owns brands including The North Face, Vans, Timberland and Wrangler.

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VF reports revenue of $2.8 billion in Q1 29/04/2016
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