Israel's Delta Galil announced on Monday revenues for the first quarter lifted 16%, another quarterly sales record for the company, which also posted a 26% uptick in net profits for the three months ending March 3
The Chinese group, owner among others of Lanvin and Sergio Rossi, is about to list on NYSE, and is keen to become a leading player in the luxury industry, aiming to increase its revenue three-fold by 2025.
Wolford said the first half of this year “developed similarly to the last months of 2020” with the US and China continuing “solid growth”, while ongoing and new Covid measure “led to business losses in Europe”.
Delta Galil is on a roll. Fresh from announcing a major underwear licence deal with Adidas, the Israel-based manufacturer will now tcreate, produce and market new women’s lingerie and swimwear collections for Wolford.
Wolford released its delayed results for its shorter fiscal year late on Wednesday and while it swung to a profit, the upscale hosiery and bodywear firm also talked of “significant business losses” due to the pandemic.