Naaman Group, which is wholly privately owned (100%) by businessman Motti Ben Moshe, continues to expand its activities in the lingerie industry and acquires Coral Model, which specializes in the wholesale production and marketing of lingerie, leisurewear, pajamas and swimwear. Coral Model owns the Banana and SIS swimwear brands, the TEHABAD leisure clothing brand and also develops, manufactures and markets private labels for the leading chains, such as Hamashbir Latzarchan, O&H and more.
Coral Model’s annual sales turnover is estimated at NIS 20 million and its operations will be merged with the Bonita de Mas chain, which was acquired by Naaman Group last September. Coral Model’s founder and owner, Amir Haberfeld, will own 40% of the merged clothing company.
Dudi Cohen, CEO of Naaman Group, Which leads the world of home fashion with the Vardinon brand and the world of kitchenware and hospitality with the Naaman brand, says that the acquisition of Coral Model is a synergistic acquisition of Bonita de Mas and is part of the strategy of diversifying and expanding our business portfolio in retail and clothing in particular. Cohen.
In 2018, Naaman Group expanded its activities in the field of kitchen utensils, when it also acquired the Zucker company, which imports and markets tools and equipment for the institutional kitchen. In August 2020, Naaman Group acquired the ruler