(Filed Under Financial and General Interest News). Scant details have emerged about a joint venture that Tefron Ltd. and Clover Group International Limited agreed to back in June, 2014. Shortly after the signing, both companies had declined to answer questions from BODY about the alliance.
Tefron, a public company based in Israel that produces intimate apparel and active wear, revealed in its most recent annual report that “the parties will work to establish a jointly owned company, in equal shares, in Hong Kong, whose main goal is designing, developing, manufacturing and selling bras made by the seamless technology as well as other apparel products made by this technology.”
Angie Lau, the head of privately held Clover, had disclosed, in an interview with BODY last year, the name of the new company: Seeds Tefron Global Limited. Records in Hong Kong indicate it was incorporated in that city on July 11, 2014.
The alliance seeks to utilize Tefron’s “knowledge and experience” in “developing and manufacturing products using the seamless technology, and in conjunction with the knowledge and experience of Clover which is considered to be a leading company in the field of developing and manufacturing of bras.” Both firms produce intimate apparel for some of the largest brands in the business.
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