Today, we begin a new chapter at Hanesbrands Inc. in which we can extend our leadership in innerwear. We’ve reached an agreement to sell the intellectual property and certain operating assets of our global Champion business to Authentic Brands Group, maximizing the value for Champion and best positioning HanesBrands for long-term success. Thank you to our teams around the world who continue to serve our customers and consumers every day. I invite you to view the details of the transaction in our press release, which I've linked to in the comments.
Terrible decision or very sad decision for such a great brand
When you’re in the brand management business ( like Hanes) and decide to sell such an iconic segment of your brand as Champion one has to wonder what the brand manager/ company will do with with the “unlocked value” ( cash). Its like VF selling Vans to concentrate on Dickies? A more strategic move would be to sell the whole company and invest in AI (NVIDIA) or a supply chain company that doesn’t depend on brand building and marketing but on execution. ABG will surely find competent brand marketers for Champion….something Hanes ( with all their years of experience) could have done with focused effort.
Not a Marketing expert by any means, just a lowly Product Development guy who worked for Pannill Knitting, Sara Lee Knit Products, Hanes, National Textiles, and HbI for 44 1/2 years so my observations mean very little. Hanes grew too far and too fast and created sufficient debt at a time of high interest rates on borrowed money. They had dedicated managers focused on all of these businesses (Male Underwear, Female Underwear, Casualwear, Printables, Socks, and Champion) both domestic and international. Other than paying off some of the current debt and getting it to a somewhat more manageable level, I don't see how this move allows Hanes to focus more on these core businesses...that they were already focused on.....I wish them the very best as I had many life long friends there when I retired 4.5 years ago.
👏 Congratulations on this exciting new chapter, Hanesbrands Inc.! 🌟 The decision to sell the intellectual property and operating assets of the global Champion business to Authentic Brands Group is a strategic move that maximizes value and positions HanesBrands for long-term success. 🚀 Kudos to your teams around the world who tirelessly serve customers and consumers every day! 🙌 Their dedication and hard work are the backbone of this transformation. 💪 I’ve read the press release, and it’s impressive how well this transaction has been executed. 📰 The future looks bright, and I’m eager to see the continued leadership in innerwear. 🎉 Wishing you and the entire Hanesbrands family continued success! 🌟👕
Great for champion.....my uncle actually created that logo :)
wow ABG is eating up every brand.
A short while ago Champion was going to be the brand to drive HBI growth. Now it’s gone. Finding growth in a mature innerwear market will be a challenge. Hopefully the new strategy will fare better than the last.
This is a bold move, Hanesbrands! I'm curious to see how this will impact Champion's branding and visual identity under Authentic Brands Group. As a logo designer with a focus on fashion, I'll be watching closely to see how this shift unfolds.
Given my years at HBI and working with the Champion team I read this news with a sad heart! Yet I am hopeful that this transition can truly allow Hanes brands to achieve a significant turnaround while at the same time reenergizing Champion!
Chief Executive Officer at Hanesbrands Inc.
1moLink to press release: https://newsroom.hanesbrands.com/newsreleases/news-details/2024/HanesBrands-Signs-Agreement-to-Sell-Global-Champion-Business-to-Authentic-Brands-Group/default.aspx