Long-Term Licensing Agreement Signed With Calvin Klein
Delta Galil Industries Ltd.—the Israeli company that recently purchased the Los Angeles contemporary brands 7 For All Mankind, Splendid and Ella Moss—announced that its Delta Galil USA subsidiary has signed a long-term licensing agreement with Calvin Klein Inc. to develop, manufacture, produce and distribute boys’ and girls’ underwear, sleepwear and socks.
The five-year agreement, which begins Jan. 1, 2018, gives Delta Galil the exclusive wholesale right to market the Calvin Klein master brand for boys’ and girls’ underwear, sleepwear and socks through the department-and specialty-store arena in the U.S. and Canada.
“Calvin Klein has represented one of the most iconic brands for nearly 50 years, and it is a true honor to partner with them, particularly in their renowned underwear and intimate apparel categories,” said Isaac Dabah, chief executive of Delta Galil. “This represents an important step for Delta Galil in our ongoing strategy of enhancing our branded portfolio and broadening our presence in the premium sector.”
The Calvin Klein brand is owned by the PVH Corp.
In recent years, Delta Galil has been snapping up U.S. brands that have a strong California presence. Almost two years ago, the Israeli company acquired P.J. Salvage, a high-end contemporary nightwear, loungewear and underwear company based in Irvine, Calif., for $37 million.
Last year, it bought 7 For All Mankind, Splendid and Ella Moss from VF Corp. for $120 million. The acquisition was expected to add at least $300 million a year to Delta Galil’s revenues.
Delta Galil, founded in 1975, develops seamless apparel, including bras, shapewear, socks, intimate apparel for women, underwear for men, activewear, sleepwear and leisurewear.