iFabric: Small ‘25 Loss

Items sold by Coconut Grove, a division of iFabric

Revenue at the Intimate Apparel Division (Coconut Grove), of iFabric, fell 12% in 2025 to 6,641,039CAD (Canadian dollars, about $4.8 million at current exchange rates), compared to 7,537,058CAD (about $5.4 million) in 2024. Meanwhile the company as a whole registered a 20% jump in revenue to 32,874,918CAD (about $23.6 million), from 27,327,390CAD (about $19.6 million) in 2024, based on growth at its larger, Intelligent Fabrics Division.

Despite the sales jump, iFabric reported a “total comprehensive loss” of 351,343CAD (about $252,000) in 2025 for the company as a whole, compared  to a profit of 1,960,151CAD (about $1.4 million) in 2024.

The sales decrease at the Intimate Apparel “was primarily attributable to the planned cessation of shipments of Maidenform branded products in the fourth quarter due to the non-renewal of the Maidenform license” under which iFabric had offered a variety of products for about 15 years, selling over the years in the United States, Canada, Mexico, the UK and a number of Caribbean countries. The products included adhesive bras and other intimate apparel solution products. iFabric asserted that “Maidenform branding is being replaced by iFabric-owned branding aimed at a younger demographic, as part of a growth strategy that has already produced strong early results that will be visible in Q1 2026. In addition, the segment incurred a one-time provision of 364,320CAD [about $261,000] in respect of markdown support to retailers in connection with the final sell-through of Maidenform branded products.”

In 2025 revenue at the Intelligent Fabrics Division rose 33% to 26,221,629CAD (about $18.8 million) from 19,778,082CAD, with the growth coming primarily from the sale of the basic medical garments known as scrubs. But the company explained that for the company as a whole, “gross profit as a percentage of revenue decreased to 32% in 2025 from 41% in 2024,” with the decrease “primarily attributable to tariffs affecting goods manufactured in China and imported into the United States,” as well as the shift away from Maidenform at the Intimate Apparel Division.

iFabric also announced it was raising its revenue expectations for the first quarter of 2026 to between 25 and 27 million Canadian dollars (about $17.9-$19.4 million), from 20-25 million Canadian dollars.

Giancarlo Beevis, the CEO of the Intelligent Fabrics Division stated “the strength of our 2025 results reflects disciplined execution, category expansion, and the scaling of programs where our products are delivering performance advantages and value to customers. In particular, our clinically-proven medical apparel programs and other innovative product initiatives continued to gain traction throughout 2025 and into 2026. We are seeing growth from both existing programs and new launches, and we believe that expanding retailer adoption across these categories is further validating the commercial potential of our platform.”