The online retailer is set to be acquired by Delta Galil Industries.
Bare Necessities is a leading online retail brand selling underwear, swimwear, shapewear and sleepwear. It was acquired by Walmart in 2018 in an effort to expand its online offering and complete with Amazon. The acquisition by Delta Galil is expected to close in the new few weeks, and the purchase price has not yet been disclosed.
Delta Galil CEO Isaac Dabah has commented on the purchase, saying: “This transaction reflects our strategic growth objective to diversity our distribution channels. As the digital space currently represents the fastest growing segment in our industry, we are very pleased to acquire such an authority in online intimates. Bare Necessities can significantly enhance Delta Galil’s presence in the digital world, as we continue to pursue growth online.”
Bare Necessities will add to Delta Galil’s ever-growing apparel portfolio whch currently includes brands such as 7 For All Mankind, Spendid, Ella Moss, Schiesser, Eminence as well as others.
