The Group Will Sell Its Jeans Brand And Other Businesses.

Have North Face north, Vans fan, Lee, Wrangler and Timberland and other large.

The United States

The giant VF Corp. NYSE:VFC will sell its flag.

Brand 7 For All Mankind (or Seven For All Mankind Delta) and other businesses, while Israeli retailers Delta Galil Industries, Ltd. (Galil), will be connected.

Delta Galil, headquartered in Tel Aviv and VF Corp. group, based in Boluo, North Carolina, issued a joint statement today. The former will acquire the three major brands of the latter 7 for All Mankind, Splendid and Ella Moss.

Eric Wiseman Wiseman, chairman and chief executive officer of VF Corp., said that the group had said it would reconsider the brand portfolio to maximize shareholder interest, which was one of the results of the strategy.

Delta Galil chief executive Isaac Dabah Dabah said in a statement that the paction reflected the group's global expansion strategy, and the acquisition of the above three brands helped diversify the brand classification.

The two sides did not disclose the specific paction amount, only Delta Galil said the paction will contribute about $300 million to the group in fiscal year 2017.

However, the market said that the paction amounted to about 1.2 US dollars, equivalent to 7 for All Mankind, Splendid, and Ella Moss 20.5 times in the 2015 fiscal year.

The 7 For All Mankind, founded in 2000, is the edge brand of VF Corp. Wei Wei group. Although it is a Cowboy brand, it is not included in the group's Denim sector business as Lee and Wrangle. It is a group contemporary brand business with Splendid and Ella Moss.

As of the first quarter of March 31, 2016, revenues of 7 for All Mankind, Splendid and Ella Moss fell 15% to $74 million 356 thousand and operating profits plunged 53% to 1 million 669 thousand US dollars.

Due to the core business of VF Corp. & amp; Wei Group, which is the outdoor and Extreme brand business and the denim business, the two businesses made a total contribution of 10 billion 192 million 700 thousand US dollars in the 2015 fiscal year, accounting for 82.35% of the total income of the group, while the brand business in the 2015 fiscal year only recorded 344 million 100 thousand US dollars, accounting for 2.78%, and accompanied by the sluggish fashion market. The contemporary brand business is the weakest business of VF Corp. group. The 2015 fiscal year revenue has declined by 14%, and the operating profit has slumped to 75% to 75%, and the business is still shrinking, which is almost unprofitable for the VF Corp. group.

Stimulated by trading news, the Tel Aviv stock exchange ended at 13:40, Delta Galil Industries and Ltd. (DELT.Tel Aviv) shares rose 12.96% to 10240 new sikel.