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Lakeland responds to loss of DuPont contract

Published July 19, 2011
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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.