Lakeland Industries, Inc. manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and firefighting and heat protective apparel to protect against fire. The company also provides durable woven garments, including electrostatic dissipative apparel used in electronics clean rooms; flame resistant meta aramid, para aramid, and FR cotton coveralls/pants/jackets used in petrochemical, refining operations, and electrical utilities; FR fabrics; and cotton and polycotton coveralls, lab coats, pants, and shirts. In addition, it provides high visibility clothing comprising reflective apparel, including vests, T-shirts, sweatshirts, jackets, coats, raingear, jumpsuits, hats, and gloves; and gloves and sleeves that are used in the automotive, glass, and metal fabrication industries. The company sells its products to a network of approximately 1,600 safety and industrial supply distributors through in-house sales teams, customer service group, and independent sales representatives. It serves end users, such as integrated oil, chemical/petrochemical, automobile, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high technology electronics manufacturers, as well as scientific, medical laboratories, and the utilities industry; and federal, state, and local governmental agencies and departments. The company was incorporated in 1982 and is headquartered in Huntsville, Alabama.
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Here are 1-2 brief analogies for Lakeland Industries (LAKE):
- Carhartt for specialized industrial safety gear: Lakeland manufactures protective clothing for hazardous industrial environments, similar to how Carhartt is known for durable workwear, but with a focus on advanced safety and protection.
- A focused 3M for protective work apparel: While 3M offers a broad range of industrial and safety products, Lakeland specializes specifically in manufacturing comprehensive lines of protective clothing, acting like a dedicated apparel division for industrial safety.
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- Chemical Protective Clothing: Garments offering protection against hazardous chemicals in liquid, vapor, and particulate forms.
- Flame Resistant (FR) and Arc Flash Clothing: Apparel designed to protect workers from fire, intense heat, and electrical arc flash hazards.
- Heat Protective Apparel: Specialized suits and garments for protection in extreme high-heat industrial environments, including molten splash.
- Cleanroom and Controlled Environment Apparel: Garments manufactured for use in cleanroom and other contamination-controlled environments.
- General Protective Workwear: Everyday industrial workwear, including high-visibility clothing for enhanced worker safety.
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Major Customers of Lakeland Industries (LAKE)
Lakeland Industries (LAKE) primarily sells its protective clothing and accessories to other companies and organizations, making it a business-to-business (B2B) seller.
Based on the company's public filings (such as its 10-K report), Lakeland Industries has a diversified customer base, and no single customer accounts for 10% or more of its consolidated net sales. Therefore, there are no individually named "major customers" to list with their symbols.
Instead, Lakeland Industries serves a broad range of industries and organizations that require personal protective equipment (PPE). These include:
- Chemical and Petrochemical Industries
- Oil & Gas and Utilities
- Fire & Rescue Services and First Responders
- Healthcare Facilities
- Government Agencies
- Hazardous Waste Management
- Construction and Manufacturing (e.g., automotive, general manufacturing, steel & metal fabrication)
- Pharmaceutical and Food Processing Industries
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James Jenkins, President and Chief Executive Officer
James Jenkins was appointed President and Chief Executive Officer of Lakeland Industries, Inc. on June 1, 2024. He also serves as the Executive Chairman of the Board since August 2023, and previously held the position of Acting President and CEO since February 1, 2024. Jenkins joined Lakeland as a director in September 2016 and has held multiple leadership roles, including Chairman of the Board. Prior to his tenure at Lakeland, he began his career as a partner at a regional law firm and subsequently held executive roles at Transcat, Inc.
Roger D. Shannon, Chief Financial Officer and Company Secretary
Roger D. Shannon was appointed as Lakeland Industries' Chief Financial Officer on February 1, 2023. He is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA) charter holder. Before joining Lakeland, Mr. Shannon served as CFO and Treasurer at Charah Solutions, Inc., and prior to that, he was the CFO at Adtran, Inc. For over nine years, he held the CFO and Treasurer position at Steel Technologies. His extensive background also includes senior finance roles at Brown-Forman Corporation and British American Tobacco, as well as accounting positions at Vulcan Materials Company, Lexmark International, and KPMG.
Hui An, Chief Operating Officer
Hui An serves as the Chief Operating Officer of Lakeland Industries.
Laurel Yartz, Chief Human Resources Officer
Laurel Yartz is the Chief Human Resources Officer for Lakeland Industries.
Barry Phillips, Senior Vice President of Global Sales
Barry Phillips joined Lakeland Industries as Senior Vice President of Global Sales in June 2024. He brings over 37 years of experience in global sales leadership and strategic market development, with a particular focus on the fire services sector. His career includes senior positions at leading safety product companies where he managed global B2B sales and operations teams, contributing to significant revenue growth.
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Lakeland Industries (symbol: LAKE) manufactures and sells a range of safety garments and accessories for the industrial protective clothing market globally. Their main products include disposable protective clothing, chemical protective clothing, fire protective clothing, high-visibility clothing, and medical protective clothing.
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Industrial Protective Clothing: The global industrial protective clothing market was estimated at approximately USD 16.8 billion in 2024 and is projected to grow to about USD 67.3 billion by 2034, with a compound annual growth rate (CAGR) of 14.8% from 2025 to 2034. Another estimate valued the global market at USD 18.35 billion in 2022, expected to reach USD 31.18 billion by 2030 with a CAGR of 6.9% from 2023 to 2030. The U.S. region held approximately 87% of the industrial protective clothing market share, with USD 5.7 billion in revenue in 2024.
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Disposable Protective Clothing: The global disposable protective apparel market is projected to grow from USD 25.1 billion in 2025 to USD 36.8 billion by 2035, at a CAGR of 3.9%. Another report indicated the global disposable protective clothing market was valued at USD 3.30 billion in 2023 and is projected to reach USD 5.08 billion by 2030, growing at a CAGR of 6.38%. North America is a key market for disposable protective clothing, globally.
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Chemical Protective Clothing: The global chemical protective clothing market was valued at USD 1.49 billion in 2024 and is projected to reach USD 2.84 billion by 2033, exhibiting a CAGR of 7.42% from 2025 to 2033. Another estimate placed the global market size at USD 1.57 billion in 2024, expected to reach USD 2.44 billion by 2033 with a CAGR of 4.81%. North America dominates the chemical protective clothing market in terms of market share and revenue.
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Fire Protective Clothing / Flame Retardant (FR) Apparel: The global flame retardant apparel market is expected to grow from USD 4 billion in 2023 to USD 7.16 billion by 2033, at a CAGR of 6%. The global flame resistant clothing market was valued at USD 2.10 billion in 2024 and is expected to reach USD 2.74 billion by 2031, with a CAGR of 3.90%. North America is the largest flame-retardant apparel market.
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High Visibility Clothing: The global high visibility clothing market size was estimated at USD 1.814 billion in 2024 and is projected to reach USD 2.6951 billion by 2030, growing at a CAGR of 6.9% from 2025 to 2030. Another report indicated the global market size was worth around USD 1.78 billion in 2024 and is predicted to grow to around USD 3.68 billion by 2035 with a CAGR of 6.83% from 2025 to 2035. North America emerged as the most significant global High Visibility Clothing market, holding a 35.45% market revenue share in 2024.
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Medical Protective Clothing: The global medical protective clothing market size was valued at USD 579.75 million in 2024 and is projected to reach USD 1139.75 million by 2033, growing at a CAGR of 7.80% during the forecast period (2025-2033). Another source reported the global market size was USD 373.7 million in 2019 and is expected to reach USD 661.0 million by 2027, growing at a CAGR of 7.4% from 2020 to 2027. North America is the most significant global medical protective clothing market shareholder.
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Here are 3-5 expected drivers of future revenue growth for Lakeland Industries (LAKE) over the next 2-3 years:
- Strategic Acquisitions: Lakeland Industries has been actively pursuing and integrating acquisitions, such as Veridian and the LHD Group's Fire division, which have significantly contributed to recent revenue growth and are expected to continue providing momentum. The company has also acquired Pacific Helmets and Jolly Scarpe, with these acquisitions anticipated to boost revenues in fiscal year 2025 and 2026. Lakeland also maintains a robust acquisition pipeline to further expand its offerings and market presence.
- Growth in Fire Services Segment: The fire services segment is a key strategic focus and a significant driver of revenue growth. This segment saw a 100% year-over-year increase in Q1 2026 and represents 45% of total revenue. Lakeland is focused on accelerating growth within this fragmented sector and is expanding its fire services product lines through both organic growth and strategic acquisitions.
- Expansion into New Markets and Geographies: Lakeland Industries is investing resources in high-growth geographies and actively expanding its global markets, channels, and customer base. The company has reported strong organic growth in the U.S. and Europe, indicating successful penetration and expansion in these regions.
- Product Line Enhancements and New Product Introductions: The company is committed to enhancing its product lines, adding extensions, and introducing innovative new products. A strategic investment has been made to enter the "Connected Worker" market, signaling a focus on leveraging technology for future growth. The expansion of both fire services and industrial product lines is also a key initiative.
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Here's a summary of Lakeland Industries' (LAKE) capital allocation decisions over the last 3-5 years:
Share Repurchases
- In February 2021, the Board of Directors approved a stock repurchase program authorizing up to $5 million, which was subsequently increased by an additional $5 million in July 2021.
- The company repurchased $5.4 million of its common stock during the fiscal year ended January 31, 2023.
- As of January 31, 2025, $5.0 million remained authorized under the stock repurchase program.
Share Issuance
- For the fiscal year ended January 31, 2025, Lakeland Industries issued 2,093,000 shares of common stock in an underwritten offering, generating approximately $46.2 million in net proceeds after expenses. These proceeds were utilized to reduce the company's revolving credit facility.
Outbound Investments
- During the fiscal year ended January 31, 2025, Lakeland Industries completed acquisitions of Veridian Limited, LHD Group Deutschland GmbH, and Jolly Scarpe S.p.A., which significantly contributed to increased net sales.
- On November 30, 2023 (fiscal year ended January 31, 2024), the company acquired New Zealand-based Pacific Helmets NZ Limited in an all-cash transaction valued at approximately $8.6 million (NZ$14,000,000). This acquisition enhanced Lakeland's product portfolio, particularly in fire service protective helmets.
- In October 2021 (fiscal year ended January 31, 2022), Lakeland Industries initiated an investment in Inova Design Solutions Ltd (Bodytrak), acquiring 508,905 shares. Further investments were made in April 2022 for $1.9 million and in October 2022 for $1.2 million, resulting in Lakeland owning 22.5% of Bodytrak's total share capital.
Capital Expenditures
- Capital expenditures for the fiscal year ended January 31, 2024, amounted to $2.1 million, primarily directed towards manufacturing facilities in Vietnam and Mexico.
- For the fiscal year ended January 31, 2023, capital expenditures were approximately $2.0 million.
- Lakeland Industries anticipates capital expenditures of approximately $3.0 million for the upcoming fiscal year (FY26), with a focus on enhancing manufacturing capabilities and investing in a new ERP system.
