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Koret of California Inc history
Koret of California Inc company history timeline
Koret of California, Inc., has been making moderately priced apparel for women since 1938.
The Koret Trickskirt pleated skirt, which sold 3.5 million pieces, was introduced in 1946.
Levi Strauss was the first company to license the process in 1963.
1966: Koret goes public and changes its name to Koracorp; Stephanie Koret retires.
The company reported a profit of $2.1 million in 1971 on sales of $92 million.
Patents on the Koratron permanent press process were due to expire in 1978, so the company needed to find a way to replace royalty revenue.
1979: Koracorp is acquired by Levi Strauss.
A petite division was started in 1981.
By 1986, Levi Strauss was ready to drop its diversified apparel operations and refocus on jeans.
In 1989, the company formed the subsidiary Counterparts Sportswear, Inc. to acquire the assets of two women's apparel companies manufacturing under the Counterparts label.
Koret earned $20 million in 1994 through a private placement of three million shares of common stock and used some of the funds to retire debt carried over from the leveraged buyout.
The company also introduced an "insta-fit" program in 1994, featuring pants with a mechanism on a track that let the wearer adjust the waistband by three inches.
Koret introduced a stain-resistant line of clothing, dubbed Korapel, in 1995.
In 1999, Koret determined that it could improve its competitive position in the increasingly consolidated garment industry through a merger with a larger group.
1999: Koret is acquired by Kellwood Company.
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Koret of California Inc may also be known as or be related to Koret of California and Koret of California Inc.