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Bethel Fiannce news:
Delta Galil Industries Ltd. (Pink Sheet: DELTY; TASE: DELT) has signed an agreement with Kenneth Cole Productions Inc. (NYSE: KCP) to develop, produce, and distribute men's and women's underwear, loungewear and hosiery for the Kenneth Cole New York and Kenneth Cole Reaction labels. The four-year license runs through the end of 2015, with an option to extend by four more years.
"Some of the collections will be launched by the fall of 2012 and the rest in early 2013. The collections will be sold at Kenneth Cole New York retail stores and select department and specialty stores worldwide. Delta Galil has an exclusive license to produce and market the collection in the US and Canada, and a non-exclusive license for the rest of the world" Said Mr. Cedric Marmet from Bethel Finance Ltd.
Delta Galil says that the agreement with Kenneth Cole is synergetic with its current operations, and could boost its brand operations and company growth. Delta Galil is replacing Kenneth Cole's current licensee Esportia International Inc.
Delta Galil CEO Isaac Dabah said, "Kenneth Cole is one of the most recognized brands in the fashion industry and a great addition to our branded portfolio."
Kenneth Cole CEO Paul Blum said, "In Delta Galil, Kenneth Cole has chosen a partner with a tradition of designing and manufacturing products that maximize comfort, aesthetics and quality, and an innovative body-before-fabric approach that utilizes cutting edge technologies and fabrics. Delta Galil has a reputation for excellence in manufacturing, marketing and servicing products, building on its deep knowledge base and strong core manufacturing competencies. Their global presence includes 17 development, design, logistics, manufacturing and marketing locations worldwide."
Delta Galil's share price rose 0.4% by mid-afternoon on the TASE today to NIS 28, after closing at $6.70 in New York yesterday, giving a market cap of $156 million.
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