MISGAV, Israel, March 18, 2011 /PRNewswire-FirstCall/ -- Tefron Ltd. (OTC: TFRFF.OB; TASE:TFRN) ("Tefron"), a leading producer of seamless intimate apparel and engineered-for-performance (EFPTM) active wear, today announced important changes to its North American sales and marketing organization, including the appointment of Galit Wexler as VP North America to directly service intimate apparel customers, the hiring of the marketing firm BrandAxion let by Jeff Danzer, and the departure of Rebecca Zuber as Chief Marketing Officer.
Galit Wexler joins Tefron as a Vice President for North American sales with a strong background in the intimate apparel sector. Galit has worked worldwide designing and merchandising intimate apparel for over 10 years. Most recently, Galit served as Director of Design for intimate apparel at Abercrombie & Fitch, where she established their Gilly Hicks Intimates brand. Galit was also responsible for the design process for Abercrombie & Fitch branded sleepwear and other intimate apparel. Prior to her work at Abercrombie & Fitch, Galit worked in design, product development and merchandising with Delta Galil Industries in NY and Israel and with Kenvelo in Prague. With her strong background in product development and merchandising in the intimate apparel, Galit will lead Tefron's effort in securing the company's foremost position among branded customers in the sector.
Commenting on Galit's new role with Tefron, Guy Zimmerman, Tefron VP Sales and Business Development said, "We are proud to announce Galit's appointment to lead Tefron's intimates' sales in North America. Galit is an accomplished professional who has worked in virtually all stages of intimate product development from design to sales, with extensive understanding of the industry and market leaders, I'm confident that Galit will significantly contribute to Tefron's service and performance with our leading intimate accounts."
Another essential element of Tefron's new sales and marketing plan is the hiring of Jeff Danzer and his team at BrandAxion, a New York based boutique marketing firm, to develop and execute Tefron's North American marketing strategy. Jeff Danzer is well known in the apparel industry for his provocative brand building tactics. Jeff was the original marketing force behind 2(x)ist underwear, where his initiatives were widely credited with building what was a niche underwear line into an underwear brand powerhouse in less than 5 years. BrandAxion will work in conjunction Tefron's Israeli marketing team to drive and build the Tefron brand and to create a new marketing program in North America.
Commenting on the new sales and marketing initiatives, Tefron CEO Amit Meridor said, "Tefron is committed to regaining its leading position in seamless and performance apparel in all sectors of the industry. The changes announced today are being made to directly address the different requirements of the diverse customer base we service. I would like to add my welcome to Galit Wexler who brings to Tefron such extensive experience in the apparel sector from her work in Europe, North America and Israel. I would also like to thank Rebecca Zuber for her work this past year as we began to rebuild our marketing effort and I wish her luck in her future chosen path. Finally, I want to say that we are very excited to be working with BrandAxion to strengthen Tefron's sales and marketing network in the U.S. market. I believe that they have the right ideas to help us implement the marketing phase of our turnaround program."
Tefron is a market leader in the field of apparel, serving customers in the U.S. and Europe. Tefron focuses on developing, producing, marketing and selling undergarments, athletic wear, beach and swimwear. Tefron activities are divided into two business sectors: "Seamless" design, development, production and sale of undergarments and athletic apparel; and "Cut & Sew" design, development, production and sale of undergarments, swimsuits and athletic apparel. The design and production are mainly performed in Israel, Jordan and the Far East, while the finished goods are sold mainly in the U.S. and Europe. Company customers include leading international players, such as: Victoria's Secret, Hanes Brands Industries, Reebok, Patagonia, Lululemon Athletica, GAP, Calvin Klein and Wal-Mart.
This press release contains certain forward-looking statements, within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995, with respect to the Company's business, financial condition and results of operations. We have based these forward-looking statements on our current expectations and projections about future events.
Words such as "believe," "anticipate," "expect," "intend," "will," "plan," "could," "may," "project," "goal," "target," and similar expressions often identify forward-looking statements but are not the only way we identify these statements. Except for statements of historical fact contained herein, the matters set forth in this press release regarding our future performance, plans to increase revenues or margins and any statements regarding other future events or future prospects are forward-looking statements.
These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements, including, but not limited to:
- the effect of the worldwide recession on our sales to our customers in the United States and in Europe and on our ability to finance our operations; - our customers' continued purchase of our products in the same volumes or on the same terms; - the cyclical nature of the clothing retail industry and the ongoing changes in fashion preferences; - the competitive nature of the markets in which we operate, including the ability of our competitors to enter into and compete in the seamless market in which we operate; - The potential adverse effect on our business resulting from our international operations, including increased custom duties and import quotas (e.g., in China, where we manufacture for our swimwear division). - fluctuations in inflation and currency rates; - the potential adverse effect on our future operating efficiency resulting from our expansion into new product lines with more complicated products, different raw materials and changes in market trends; - the purchase of new equipment that may be necessary as a result of our expansion into new product lines; - our dependence on our suppliers for our machinery and the maintenance of our machinery; - the fluctuations costs of raw materials; our dependence on subcontractors in connection with our manufacturing process; - our failure to generate sufficient cash from our operations to pay our debt; - political, economic, social, climatic risks, associated with international business and relating to operations in Israel;
As well as certain other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts Company Contact: Eran Rotem Chief Financial Officer +972-4-9900803 firstname.lastname@example.org
SOURCE Tefron Ltd