Delta Galil expands its footprint in Europe. The Israeli company has announced the acquisition of Eminence Group, the second largest intimate apparel retailer in France by turnover. The company owns the homonymous brand, as well as the Athena and Liabel lables. All three trademarks are targeting the mass market for men, women and children.
Delta Galil’s CEO, Isaac Dabah, explained that this acquisition is intended to help strengthen the company’s presence in the European market, which currently represents only 1% of its revenues. The operation is expected to close in the third quarter.
With revenues of around one hundred million euros in 2017, Eminence Group has a strong presence in the French intimate male market. In fact, 87% of its turnover come from this business unit. Women account for 8% of sales, and childrenwear represents 5%.
Eminence Group’s business is focused in the French market, where it generates 80% of total sales. Following on its acquisition, Delta Galil aims to boost the brand in nearby countries, such as Spain and Italy, and accelerate growth in the online channel.
The Israeli group, which acquired 7 For All Mankind and Ella Moss in 2016, achieved during fiscal 2017 sales of 1,368.1 million dollars (1,112.2 million euros), up 16% from prior year. Net profit climbed 5.6% to 49 million dollars (40.95 million euros) in 2017.