(Filed Under wholesale Lingerie News). Bare Necessities, the online intimates retailer, is changing hands again. Delta Galil announced on August 25 it had signed a deal to acquire the store, which had just been bought by Walmart in October, 2018.
Interestingly, Delta Galil’s press release made no mention of Walmart or that company’s change of heart on their recent acquisition.
Declared Delta Galil’s CEO, Isaac Dabah, “this transaction 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 of Bare Necessities to achieve strong, profitable growth.”
Delta Galil noted “the transaction is expected to close in the next few weeks and be accretive to earnings next year.” It provided a current description of Bare Necessities: “established in 1998, with headquarters outside New York City, Bare Necessities today offers more than 160 brands and 6,400 styles in intimates, women’s swimwear, shapewear, sexy lingerie, sleepwear, and hosiery, among others.” It listed some of the brands currently sold on the site including “Wacoal, Chantelle, Spanx, Calvin Klein and Miraclesuit, with exclusive collections including Birdsong and Camio Mio. Following the deal, the site will offer Delta Galil’s own brands as well.” — NM
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