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Lakeland responds to loss of DuPont contract

July 19, 2011

Execs don't expect significant impact.

Lakeland Industries, Inc. said it does not expect the termination of its licensing relationship with DuPont to have a significant impact on earnings in fiscal 2012 or 2013.

According to Christopher Ryan, CEO of Lakeland Industries, Inc., "While products made from DuPont-branded fabrics have long been an important part of Lakeland's product mix, in recent years we have been very successfully growing our own branded product lines. This was according to a prudent strategy to reduce excessive reliance upon any one supplier."

Lakeland also aggressively globalized its business over the last decade to take advantage of the fast growth in emerging markets/BRIC countries, and we are achieving excellent results in Canada and Europe. "As a result, we are in a position where the loss of DuPont-supplied fabrics will have a much smaller impact on our overall business and profit than it would have a few years ago," he says.

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