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Galey & Lord history
Galey & Lord company history timeline
1886: William Galey and Charles Lord form a partnership to market fabrics to apparel makers.
1922: The firm becomes the sales agent for Cramerton Mills in Gaston County.
1988: The blended fabrics division is sold to a group headed by AuthurWiener, the former president of Burlington’s blended fabrics division.
May 1992: Transformed to public ownership, trading on Over-the-Counter Market.
July 1992: First quarter after becoming a public company, reports profit of $3 million.
Wiener eventually made Galey & Lord a public company in 1992.
In 1993 Galey & Lord once again saw a trend emerging in corduroy.
April 1994: Breaks into the home furnishings market with the purchase of Burlington Industries’ Decorative Prints business.
Late in 1994, Wiener explained to WWD that "we feel the print market is beginning to turn around, and the new division gives us additional products with which to address the market and pick up some additional."
Sales in 1994, for example, totaled $30.1 million for printed fabrics--6.7 percent of net sales.
June 1996: Acquires Mexican apparel company, Dimmit Industries for about $22.5 million.
1996: Galey & Lord purchases six facilities in Mexico.
By 1996 more and more consumers considered the fabric another good alternative to denim, causing a resurgence in its prominence.
In 1996 the company saw a 30 percent increase in its corduroy business.
There are a lot of new players in khaki apparel." Some of Galey & Lord's khaki customers in 1996 included Calvin Klein, Ralph Lauren, Tommy Hilfiger, Guess, Polo Jeans, Liz Claiborne, the Gap, Banana Republic, L.L. Bean, and Land's End.
1997:Builds a new 87,000 square-foot sewing plant in Mexico.
The company's strategy for the future in 1997 was to continue to develop its practice of unique dyeing and finishing.
1998: Swift Denim Division teams with Litton Mills to sell denim in the Pacific Rim.
1999: Reports a net loss for fiscal 1999 of $11 million.
Sure enough, as early as 1999, there were distinct signs that Galey & Lord's financial performance was deteriorating.
Nov 2001: Reports quarterly loss of $ 71.3 million.
2002: Galey & Lord declares bankruptcy.
Feb 2004: John J. Heldrichis named Galey & Lord’s executive vice president and president of Swift Denim Group, a company division.
Feb 2004: A federal judge in New York approves restructuring plan.
The implementation of GATT further cultivated import use since access to United States markets expanded with the elimination of textile and apparel import quotas for several countries by the year 2005.
Dorgan, Charity; Stansell, Christina "Galey & Lord, Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/galey-lord-inc
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Galey & Lord competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Orian Rugs | 1979 | $54.1M | 170 | - |
| Maples Rugs | 1928 | $28.0M | 114 | - |
| Janco | 1964 | $13.4M | 50 | 12 |
| Foliot Furniture | 1991 | $81.2M | 750 | - |
| Kayser-Roth | 1958 | $820.0M | 7,500 | 2 |
| Container Marketing, Inc. | 1993 | $72.7M | 100 | - |
| Master Brands | 1992 | $690,000 | 50 | - |
| MCC Label | 1951 | $1.7B | 8,300 | 69 |
| SURE CAST | - | $11.0M | 100 | - |
| Culp | 1972 | $225.3M | 1,430 | 8 |
Galey & Lord history FAQs
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Galey & Lord may also be known as or be related to Galey & Lord, Galey & Lord LLC and Galey & Lord, LLC.