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Investment in JV
12 Months Ended
Dec. 31, 2022
Investments, All Other Investments [Abstract]  
Investment in JV

NOTE 8 - Investment in JV

 

In August 2022, the Company established a joint venture (“JV”) in Brazil with Santista Têxtil. The Company holds 51% and Santista Têxtil holds 49% of the JV. The purpose of the JV is to serve the Brazilian market according to the business plan that was set. Both parties agree to make an initial investment in the JV of $198 that will be made per the holding percentage of each party. As of the reporting date, the JV is in process of establishing its operation.