Tefron Signs Memorandum of Understanding to Move North American Headquarters to Montreal

Chamber of Commerce of Metropolitan Montreal’s Economic mission to Israel and the West Bank bears fruit in attracting global textile leader to the city

Montreal, November 16, 2016, Tefron Ltd. (OTCBB:TFRFF), an Israel-based global leader in the manufacturing of seamless active wear and intimate apparel signed a Memorandum of Understanding (MOU) with the City of Montreal in Tel-Aviv today to move its North American Headquarters from New York City to Montreal.

The expansion of the Montreal office and its designation as North American Headquarters will not only keep some of the industry’s most innovative textile leaders here in the city, it will allow the team to continue to grow beyond the 10-fold expansion it has undergone since 2012. Montreal’s current team of 30 manages the company’s sales, customer service, design, production, sourcing, IT, invoicing, administration, business analysis, logistics, and accounting functions; roles will be added in R&D, HR, and global marketing.

Although Montreal’s leadership in fashion and textiles appears to have waned with manufacturing moving overseas, Tefron not only benefits from a worldwide manufacturing and distribution network, it proudly depends on its Montreal based management team to steer the business to enhanced growth and profitability.

“Montreal is a wonderfully multi-cultural city that has a huge pool of amazing talent and a long history of success and innovation in the fashion and garment sectors. We are proud to call Montreal home and are committed to helping write the next chapters in the history of this storied city, by making our Montreal office our North American Headquarters,” said Michael Gold, President North America, Tefron.

For Montreal Mayor, Denis Coderre, “After many difficult years in the textile and fashion industry, Montréal is returning as a major player, notably thanks to the efforts of mmode, a fashion cluster organization. The fact that the head offices as important as those of Tefron in North America are moving to Montréal sends a strong signal of the city’s importance in the clothing industry. Tefron’s leadership in innovation will certainly benefit from Montréal’s dynamic businesses in this sector.”

Tefron maintains leadership in the quickly-changing garment industry by continuously offering innovations including seamless sewing, 3D sewing, and wearable technology as white label product to some of the world’s largest and most well-known brands including Victoria’s Secret, Under Armour, Adidas, Pink, and Walmart. Tefron’s Montreal Headquarters will be the main point of contact for managing the entirety of its North American operations.

“Greater Montréal’s fashion industry, although touched by globalization in recent years, has been able to restructure itself with new business models. It is attracting more world-class players and is a key contributor to the metropolis,” said Hubert Bolduc, President and CEO of Montréal International. “The presence of Tefron’s North American headquarters as well as the anticipated growth of its activities are definite advantages in the positioning of the region in the fashion and design industry, with high quality jobs and a strong value-added contribution.”

For Debbie Zakaib, Executive Director at mmode, the Fashion Industry’s Metropolitan Cluster, “The Cluster welcomes groundbreaking and job-creating initiatives that contribute to the growth and economic prosperity of Quebec’s garment and textile industry. We salute opportunities that help to position Montreal as a leader in global fashion and we celebrate the companies that highlight our industry’s expertise and its capacity to innovate.”

About Tefron

Founded in 1977 and based in Misgav, Israel, Tefron manufactures boutique-quality everyday seamless intimate apparel, and active wear sold throughout the world by such name-brand marketers as Victoria’s Secret, Pink, Under Armour, Reebok, Target, J. C. Penney, Calvin Klein, Patagonia, as well as other well-known retailers such as Walmart. The company’s innovative seamless product line includes knitted briefs, bras, tank tops, boxers, leggings, crop, T-shirts, nightwear, bodysuits, and active-wear.

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