Bare Necessities is getting a new owner.
The online intimates retailer, which was acquired by Walmart in fall 2018, is set to be acquired by Delta Galil Industries, a global manufacturer and marketer of branded and private label apparel products for men, women and children. The purchase price of the transaction, which is expected to close in the next few weeks, was not disclosed.
Founded in 1998, Bare Necessities offers more than 160 brands across categories that include intimates, women’s swimwear, shapewear, sleepwear, hosiery and more. Following the closing of the deal, the site will also offer Delta Galil’s own intimate brands as well.
Walmart’s acquisition of Bare Necessities came as the retail giant was looking to expand its online offerings in order to better compete against Amazon. Other digitally native brands acquired by Walmart as part of the effort include Bonobos, Eloqui and ModCloth, which it sold last year.
“This transaction reflects our strategic growth objective to diversify our distribution channels,” said Delta Galil CEO Isaac Dabah. 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.”
Delta Galil develops apparel under a variety of brands, including 7 For All Manking, Spendid, Ella Moss, Schiesser, Eminence, Athena & Liabel, PJ Salvage and others. In addition, it sells its products under brand names licensed to the company, including Wilson, Converse, Tommy Hilfiger and more.