German Schiesser group with new ownership

German Schiesser group with new ownership

Israeli /American Delta Galil has acquired German Schiesser Group (under- and casual wear) and the investment should boost turnover from USD 679 to USD 900 million

The formerly Swiss owned Schiesser group has just been recovering from an insolvency procedure and its administrator had intended to bring the revived company’s shares in an IPO to the stock exchange. Due to the debt crisis in Europe such a venture had to be already twice suspended and in the meantime Volker Grub entered into takeover talks with several interested parties and finally Delta Galil emerged as the winner. The takeover price is not known but it should cover all actual Schiesser debts.

Acquirer Delta Galil will now have an entry to the interesting German market and the brand Schiesser is still known among consumers and stands for quality at a consumer friendly price level.

But who is Delta Galil Industries? It is a global manufacturer founded in 1975 and marketer of private label apparel products for men, women and children and following a body-before-fabric philosophy (comfort, aesthetics and quality) and developing made-to-order products, including intimate apparel for women, extensive lines of underwear for men, innovative bras and socks, children’s wear, leisure- and nightwear, knitted fabrics, elastic ribbons, trimmings and a variety of other basic apparel materials.

Among its clientele we find retailers such as Mark & Spencer, Target, Wal-Mart, JC Penney but also Calvin Klein, Nike, Hugo Boss and Pierre Cardin. It also sells products under brand names which are licensed such as Wilson, Maidenform, Tommy Hilfiger. Delta Galil assists also leading apparel designers and retailers to introduce new products and by offering innovative manufacturing solutions to satisfy consumer requirements.

Delta Galil has established beyond its Israeli origin by setting-up strategically located design, development and manufacturing centres on four continents. It employs around 7000 0people worldwide and is serving over 50 industry-leading customers in America, Great Britain and continental Europe.

Last November it launched a groundbreaking fabric technology called RELASTING SOFTNESS TM ensuring that garments retain their softness and smoothness with no pilling wash after wash, thus longer wear and use. It is based upon Modal® from Austrian Lenzing Group. At the same time it launched also REALCOOL SOFTNESS TM an anti-pilling agent but also with moisture management properties. Delta has its own Delta Galil LabsTM to develop new innovative fabrics.

It is not yet known what the detailed plans are for the acquired German Schiesser Group but we will keep you posted.

www.schiesser.com

www.deltagalil.com


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