Delta Apparel (PPAI 188431, Gold) – the No. 69 supplier in the 2024 PPAI 100 – is filing for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Delaware.

The Duluth, Georgia-based supplier reported between 200 and 299 creditors as of June 30.

• At the beginning of June, the company had $337.8 million in total assets and $244.5 million in labilities according to the filing.
• Its largest creditor is Park Mills, which is owed more than $22 million from Delta Apparel.

Tim Pubian, president of Focus Management Group, was named chief restructuring officer in May, after Delta’s board of directors pushed out CEO Robert W. Humphreys amid ongoing financial struggles.

• Pubian has been given board authorization to enter into a debtor-in-possession agreement with Wells Fargo Bank that would allow him to pledge the company’s assets or allow liens to be placed on its property to secure that agreement, pending court approval.

FCM Saltwater Holdings has reportedly offered $28 million to buy the Salt Life brand from Delta Apparel, which the supplier is expected to agree to.

• Salt Life produced a revenue of $59 million for the fiscal year that ended September 30, 2023.
• Delta hopes that the FCM Saltwater Holdings offer will serve as a stalking horse bid, a term for the initial bid on the assets of a bankrupt company, which sets a minimum price for other potential bidders.

In June, the company suspended its manufacturing operations in Honduras as it attempted to work through its liquidity challenges.

“The company’s deteriorating liquidity position and lack of funding has continued to prevent it from purchasing raw materials necessary to operate its offshore manufacturing facilities and to pay compensation and benefits due to offshore employees,” Delta Apparel said in the SEC filing at the time.

In May, the apparel maker reported that its net sales for the fiscal second quarter were $78.9 million, down nearly 40% from the same period last year.

Net sales from its retail stores segment – Salt Life Group – were $15.5 million in Q2, down about 22% from Q2 2023.

In the 2023 fiscal year, which ended September 30, 2023, Delta Apparel reported a loss of $33.2 million.

Written by: Jonny Auping

Published with Permission from PPAI

Amy Rabideau, MAS, has joined Hit Promotional Products (PPAI 113910, Platinum), the No. 4 supplier in the 2024 PPAI 100, as the St. Petersburg, Florida-headquartered company’s vice president of product. Previously, the industry veteran and former PPAI Board member served as senior vice president of strategy and innovation at promo industry software platform provider Facilisgroup (PPAI 493664).

“Amy is a huge addition to our industry-leading technology team,” says Jon Norris, chief strategy officer at Hit. “Her experience as a supplier, distributor and software provider provides a strategic perspective that will help Hit deliver technology solutions for our customers. Hit hiring a vice president of product ensures that we have a well-managed lifecycle and go to market for all our technology solutions.

“If the industry is in the middle of a technology arms race, Hit just added a new aircraft carrier.”

The New Role

As vice president of product, Rabideau’s focus will be on technology and how the supplier goes to market.

Her new role is part of Hit’s initiative to build its technical proficiency and modernize its infrastructure, according to Raj Mukherjee, chief information officer at Hit.

“I can’t think of anyone else in the industry who can help me lead this initiative other than Amy,” Mukherjee says. “Amy comes with decades of promotional products experience in leading IT teams and managing the buildout of complex e-commerce products. Her experience will add a new dimension to how Hit does business, especially in the web store/e-commerce space. I’m looking forward to the leadership skills that Amy will bring to the team and am excited for Hit’s future in tech with her addition.”

Rabideau’s History

A 26-year veteran of the promotional products industry, Rabideau spent nearly three years at Facilisgroup, joining as product architect before becoming vice president of product and then SVP of strategy and innovation.

• Previously, she worked as a senior project director for business solutions provider eXtendTech, director of purchasing at Summit Group and regional account executive at Bodek & Rhodes.
• During her nearly 10-year tenure at Summit, her top priorities were compliance and product responsibility, and she earned several performance awards.
• At Facilisgroup, Rabideau served as one of the inaugural chairwomen of the emPOWER Steering Committee – emPOWER is an initiative dedicated to empowering women within the Facilisgroup community and amplifying their influence in the promo industry.

She broke into the industry at Starline, the No. 15 supplier in the PPAI 100, where she spent a decade as regional vice president of sales.

Devoted Volunteer

Rabideau, who currently serves as vice chair at PromoStandards, has a penchant for giving back to the industry.

Among her volunteer efforts, she was a member of the Professional Development Committee, Market Research Committee and Regional Association Council (RAC) board.

• She also served as RAC delegate to the PPAI Board of Directors from 2019-2021.
• Rabideau served on the Georgia Association of Promotional Products Professionals (GAPPP) board from 2014-2019.

Written by: John Corrigan

Published with Permission from PPAI

Next Level Apparel (272027, Standard Plus) has shaken up its leadership team following the departure of former CEO Randy Hales in 2023.

• Joe Simsolo, who founded the California-based company in 2003, has officially returned  to the role of CEO in after holding it on an interim basis since last August.
• Additionally, his son, Eric, has been promoted to company president after previously serving as vice president of business development.
• The father/son leadership team was selected by the Next Level Apparel’s board.

Prior to his return to the CEO role in 2023, Joe had stepped away from the company’s day-to-day operations while remaining on the board. Eric has been with Next Level in an official capacity for over nine years.

“We have brought together a strong team and added gifted leaders,” says Eric. “We are positive in the value we can offer to distributors and are keen to demonstrate that.”

Part Of A Larger Restructuring

Appointing the Simsolos to the top of the company’s leadership is the headline among a number of recent leadership changes in Next Level’s corporate structure in 2024.

• In April, the supplier hired Brett Bjorkman as chief operating officer.

Bjorkman previously served as senior vice president of Augusta Sportswear Brands for three years and has navigated sourcing and operations in leadership positions for Hurley and Billabong.

• In March, Michael Niemann was hired to the role of senior director of product.

Niemann has held various leadership roles with apparel companies including six years as director of apparel at Quicksilver.

Turning Things Around

In the years since the pandemic struck, Next Level Apparel has seen sales decline. With a nearly complete overhauling of leadership in 2024, Eric says that strategic plans are in place to begin showing signs of growth. Key focuses going forward will include:

• Core groupings and product lines
• Aggressive pricing at guaranteed rates
• Emphasis on product quality and customer service.
• Improved marketing campaigns

“We plan to innovate while building on a sturdy foundation,” Eric says. “With high-quality products, best inventory levels, aggressive pricing and successful marketing and sales strategies, we are positive in our business prospects.”

Written by: Jonny Auping

Published with Permission from PPAI

Crystal D (PPAI 112326, Gold) – the No. 88 supplier in the 2024 PPAI 100 – has promoted Kyle Nordby to operations director and hired Todd Hambrecht as vice president of strategic accounts.

Nordby’s Background

As operations director, Nordby is now responsible for overseeing all components of the St. Paul, Minnesota-based firm’s day-to-day operations.

Nordby joined Crystal D in 2013 as a temporary hire for a production artist job. He was hired permanently three months later in large part due to his experience with 3D modeling, a key graphic design skill that helped the company meet the ever-increasing demand for 3D imprint orders.

• When Crystal D invested in 3D subsurface etching technology, Nordby helped set the standard for the new process and positioned the 3D subsurface department for exponential growth, the company says.
• His leadership expanded further when he took on management of the production department.

“We’re excited to bring Kyle into this leadership role,” says Mike Irvine, executive vice president and COO at Crystal D. “He possesses a rare combination of creativity and strategy and is naturally drawn to continuous improvement. He’s a perfect fit for this position.”

Hambrecht’s Background

Hambrecht brings 20 years of experience in the IT and packaging production industries, having previously worked for Green Bay Packaging, CenturyLink and Intuitive Technology Group, among other firms.   

• At Crystal D, he’ll be responsible for establishing and nurturing relationships with key individuals in the awards industry, as well as managing strategic accounts.

Bridget Dahlgren, executive vice president of marketing and sales at Crystal D, says the company is delighted to welcome Hambrecht, “as he helps round out Crystal D’s sales leadership team and will be a driving force behind the company’s business plan and vision.”

Written by: John Corrigan

Published with Permission from PPAI

Koozie Group (PPAI 114187, Platinum) – named the No. 9 supplier in the 2024 PPAI 100 – has sold its real estate properties in Pinellas County, Florida.

The sale supports the Clearwater, Florida-headquartered company’s investment in its capabilities and future, according to Koozie Group CEO Pierre Montaubin.

“This is an exciting moment for us where we had the opportunity to sell and lease back our Florida properties to a trusted real estate partner so we can reinvest in our business,” Montaubin says.

RELATED: ‘Pen-fluencer’ Tours Koozie Group Facility After Viral Promo Pen Post

Among the properties sold for a combined $35.9 million are two light manufacturing facilities in Largo and a facility designated for heavy industrial usage in St. Petersburg, Tampa Bay Business Journal reported.

• Boca Raton, Florida-based IP Capital Partners bought the properties on June 20, taking out a $21.45 million mortgage, according to Pinellas County property records.

Building On Success

Montaubin emphasized that the transaction will be “completely seamless” for customers and will have “no impact” on employees in Florida.

“Koozie Group is enjoying great momentum after significant investments in technology, services and product and decoration innovation over the last 18 months, which have resulted in renewed interest in our offerings from customers, as well as attractive growth prospects for the future,” Montaubin says.

“This real estate sale and entry into a long-term lease agreement with IP Capital Partners builds on this success and fits our strategic plan to continue investing in our business and service delivery to create an even better experience for our distributor partners. As most companies do, we let real estate people do real estate so we can focus on our core business.”

Written by: John Corrigan

Published with Permission from PPAI

At first, the doctor did not think a colonoscopy was necessary for Chris Anderson, CEO of HPG and current member of the PPAI Board of Directors.

That’s an important place to start. It was Anderson, after other test results were inconclusive, who suggested that he receive a colonoscopy –as he had been experiencing a prolonged uptick in fatigue. This procedure is what led to his colon cancer diagnosis.

Anderson recently shared his story with PPAI Media in order to spread awareness of the importance of regular cancer screenings such as colonoscopies.

“As much as a platform as I have or as we have at PPAI – my goal is to educate people to get their colonoscopies,” Anderson says. “Mine absolutely saved my life.”

• Current guidelines suggest that individuals receive their first colonoscopy by the age of 45 and subsequent ones should be scheduled at least every 10 years, according to the MD Anderson Cancer Center.
• However, pre-existing conditions or health scenarios could justify receiving one sooner and more frequently. Discussing the reasons for being proactive about a colonoscopy with your primary doctor can help educate you on the subject.

“I Heard The C-Word, And It Stopped Me In My Tracks”

Early in 2024, Anderson noticed his general energy levels were starting to wane, leaving him feeling uncharacteristically tired. The CEO of PPAI 100’s No. 6 supplier has always been known to be one of the higher energy people in the room, so it was a somewhat jarring development for Anderson.

He had received a colonoscopy when he was 40, so his doctor reminded him that, at 47, he wasn’t technically due to get one for another three years but responded that it couldn’t hurt upon Anderson’s suggestion.

The colonoscopy was scheduled for a few weeks later and Anderson was soon informed that a few polyps and one tumor had been discovered but he was quickly assured that there was a 99% chance they were benign. He was back at his office later that day.

A week later, on a late Friday afternoon, he received a call from an unknown number.  

He was sitting at his desk, and while the doctor ambled through the medical jargon, Anderson remembers multi-tasking, trying to respond to a few emails until the other end of the phone made a concrete point.

“Then I heard the C-word – cancer – and it caused me to stop in my tracks, and it was almost one of those needle scratch moments,” Anderson recalls.

They had found was a variant of cancer called a neuroendocrine tumor.

• According to the Cleveland Clinic, about 5 in 100,000 people are affected by neuroendocrine tumors.
• On average, 77% of people diagnosed are alive five years after their diagnosis.

Anderson, who flies airplanes in his free time, coincidentally had an Angel Flight mission scheduled to fly a cancer patient from a remote corner of Montana to the Huntsman Cancer Institute in Salt Lake City, where Anderson is based.

“Little did I know that I would be a patient at that same cancer center in less than a week,” Anderson says.

Surgery was a necessity.

Source: Cancer.org

“A Spectrum Of Outcomes”

Anderson initially told no one of the developments beyond those in the innermost circle of his personal life and HPG. The surgery was scheduled for April 17.

“It was understood that there was a spectrum of outcomes, and the best possible outcome was it would be minimally invasive, and they would be able to remove all the cancer.”

The other end of that spectrum would be a difficult surgery that still potentially required radiation or chemotherapy to address a potential spread.

Fortunately for Anderson,  it has turned out to be the best-case outcome. A successful surgery resulted in the removal of all the cancer from his body (follow-ups will still be required to monitor his health). Barely two months after the surgery, Anderson sat in his office for this interview, cancer free and cleared to travel.  He is even allowed to fly airplanes again (and is excited to fly his next weekend Angel Flight mission –which will be particularly meaningful).

The cancer had been caught before it could spread. If Anderson had waited three years, until he was technically due for a colonoscopy, the likely outcomes would have been considerably more harrowing. The experience has made him something of an advocate for the procedure.

“I’m ready to shout it from the rooftops and share my story,” Anderson says. “Hopefully if it reaches even just one person who is teetering on whether or not to get a colonoscopy, they go and get it.”

Written by: Jonny Auping

Published with Permission from PPAI

Rupt Ventures – the venture arm of Austin, Texas-based Rupt (PPAI 826757, Standard-Base) – has announced its third strategic investment in the promotional products industry: Swanky Badger (PPAI 813397, Standard-Base).

Launched a decade ago after founder and CEO Mark Hanratty couldn’t find meaningful tokens of appreciation for his groomsmen, the San Diego-based supplier of high-quality, personalized gifts pivoted to promo in 2022.

Since then, Swanky Badger has seen significant growth, particularly in barware and leather goods, thanks to its distinctive one-piece minimum, on-demand, quick-turn model.

• Swanky Badger’s branded decanter set was named one of The Coolest Products In Promo earlier this year.

“We’re thrilled to partner with Rupt Ventures as we embark on this next chapter of growth,” Hanratty says. “Its expertise and resources will enable us to expand our reach as the industry evolves, and more and more end-users come to see the immense value in personalization and intentional gifting.”

Supporting Innovation

Jason Lucash, CEO of Rupt, reached out to Hanratty after several distributors sang the latter’s praises, recommended his products and said that the two were “cut from the same entrepreneurial cloth.” Lucash instantly saw the potential to help Hanratty scale in the promo sector.

“Swanky Badger epitomizes the core values of Rupt Ventures: innovation, speed and entrepreneurial excellence,” Lucash says. “Mark’s vision and dedication to creating meaningful gift experiences with no minimum align perfectly with our mission. We’re excited to support Swanky Badger’s growth and amplify its impact in the promo industry and beyond.”

At The PPAI Expo 2024, Lucash and his longtime business partner Mike Szymczak came out of retirement to introduce Rupt, the first supplier whose entire product line is made from recycled materials.

• The duo previously co-founded Origaudio, which they sold to HPG in 2018.

The industry veterans have a full five-year financial roadmap, developed with help from a big four accounting firm, to support expanded staffing, more new products and investments. Meanwhile, Rupt Ventures is a side play that will pour VC money into a stable of other suppliers dedicated to sustainability and/or innovation, with exponential growth potential.

Lucash says that Swanky Badger exemplifies these values, offering a singular approach to corporate gifting through its unique focus on creating emotional connection through personalization.

• In February, Rupt Ventures announced its inaugural deal with Stacy Stahl, founder and CEO of St. Louis-based supplier Sweeter Cards – winner of The Pitch at The PPAI Expo 2024.
• A month later, Austin, Texas-based supplier Desk Plants was named Rupt Ventures’ second investment in the promo industry.

Strategic Partner

With the backing of Rupt Ventures, Swanky Badger plans to accelerate its expansion efforts, enhance its product offerings and strengthen its sales and marketing initiatives to reach a broader audience.

The investment will also enable the firm to further strengthen its commitment to philanthropy. Inspired by his own family’s experiences, Hanratty established a give-back program where a portion of every sale is donated to Children’s Hospitals across the United States.

• In 2023, Swanky Badger donated more than $30,000 to Children’s Hospitals.

“Our Children’s Hospitals do the most amazing work, saving thousands of kids’ lives every single day,” Hanratty says. “But they’re under-funded and rely heavily on donations to be able to provide the care that they do. We have a platform that gives us the opportunity to make a real difference in people’s lives.”

Lucash adds that this partnership highlights Rupt Ventures’ commitment to supporting innovative ventures that emphasize progressive thinking and exceptional quality within the promo industry.

“Swanky Badger will now be part of the bigger Rupt umbrella similar to Sweeter Cards and Desk Plants, so you can expect shared booths at The PPAI Expo,” Lucash says. “We’ll also be cross utilizing our sales team and creative team to scale the brand and providing Swanky Badger back-office support to help scale the business.”

Written by: John Corrigan

Published with Permission from PPAI

Delta Apparel (PPAI 188431, Gold) – the No. 69 supplier in the 2024 PPAI 100 – is suspending its manufacturing operations in Honduras due to ongoing liquidity challenges.

• More than 2,400 employees will be impacted, according to a regulatory filing with the Securities and Exchange Commission (SEC) on Monday.

“The company’s deteriorating liquidity position and lack of funding has continued to prevent it from purchasing raw materials necessary to operate its offshore manufacturing facilities and to pay compensation and benefits due to offshore employees,” Delta Apparel said in the SEC filing.

The suspension, which is expected to remain in effect for at least 120 days, follows the wind-down of the Duluth, Georgia-based company’s manufacturing operations in Mexico earlier this year.

• Meanwhile, the firm is still trying to sell its manufacturing operations in El Salvador.
• The SEC filing also mentioned that the company is no longer emphasizing Delta Activewear’s Global Brands channel.

Delta Apparel says it’s exploring strategic initiatives involving its offshore manufacturing operations, “which may include a sale or a permanent wind-down of all such operations,” and expects to finalize its plan within 120 days.

Financial Struggles  

In May, the apparel maker reported that its net sales for the fiscal second quarter were $78.9 million, down nearly 40% from the same period last year.

• Net sales from its retail stores segment – Salt Life Group – were $15.5 million in Q2, down about 22% from Q2 2023.
• In the 2023 fiscal year, which ended September 30, 2023, Delta Apparel reported a loss of $33.2 million.

“Fiscal 2023 was undoubtedly a challenging year for our company and the industry given the reduced demand environment following last year’s post-pandemic seller’s market,” said Robert W. Humphreys, who resigned as CEO and chairman of Delta Apparel at the request of the board of directors just two weeks after the fiscal Q2 report.

• Following Humphreys’ departure, the president of Delta Group, Delta Apparel’s executive vice president and chief administrative officer, as well as two board members, all submitted their resignations.

In the same SEC filing, Delta Apparel reported that Elkay Partners had exercised a discretionary right and terminated its planned $23.5 million purchase of Delta Apparel’s 35-acre campus in Fayetteville, North Carolina.

Possible Bankruptcy

Delta Apparel also disclosed that it has been non-compliant with a financial covenant contained in its U.S. revolving credit facility that required its financial results to “improve at a rate faster than we experienced during the second quarter and at a faster rate than we expect to experience over the next 12 months.”

• According to the company, its lenders have elected not to declare the principal and all other amounts owed to be immediately due and payable.

However, if the lenders do call such debt during the next 12 months, Delta Apparel says it won’t have readily available funds to repay the debt, raising “substantial doubt about the company’s ability to continue as a going concern.” If the firm can’t address such concerns, it mayseek relief under applicable bankruptcy laws, according to the quarterly report.

• Additionally, the company says it was notified by certain suppliers in January that they would no longer extend credit in amounts or terms to the extent previously allowed, limiting Delta Apparel’s ability to obtain raw materials.

Furthermore, its DTG2Go digital-print business recently received notice that its largest customer no longer intends to source production from the platform. As a result, the company expects to receive an impairment charge in the third quarter of fiscal 2024.

Written by: John Corrigan

Published with Permission from PPAI

Goldstar (PPAI 114031, Platinum) – the No. 16 supplier in the 2024 PPAI 100 – has announced that Heather Smartt has taken over as global leader of the San Diego-based firm.

Howard Cubberly, who joined Goldstar a decade ago and has served as global general manager since 2019, is departing the company. PPAI Media has learned that Goldstar is going through a corporate restructuring.

“I’m so grateful for this opportunity to continue with the amazing work Howard did in his time here at Goldstar,” Smartt says. “We have a great foundation, and I’m looking forward to enhancing our services and bringing more social and environmental awareness across the company as we continue global expansion, commitments to Simplicity and our line of products ‘Made Better.’”

Cubberly’s Impact

Cubberly tells PPAI Media that it was a great 10 years growing Goldstar with an amazing team.

“It’s a good time to pass the reins as we’ve recently reached a point in scaling the business quickly, where it will take a next level of investment in people, service levels and digital transformation,” he says. “There’s no doubt in my mind that Goldstar will continue to expand its supplier position in the industry under the new leadership.”

Under his leadership, Goldstar developed new product categories, expanded throughout North America and Europe, received multiple awards and launched its Simplicity campaign, which signifies the company’s commitment to simple pricing and an easy-to-work-with business culture.

“We’re deeply grateful for Howard’s vision and leadership, which was foundational to our success over the past decade. His commitment to fostering a great team environment, vibrant brand and entrepreneurial spirit is engrained into our legacy. He’ll be deeply missed but wish him nothing but the very best in his future endeavors,” Goldstar’s management team said in a joint statement.

• Goldstar reported $78.9 million in 2023 revenue and has grown sales by 102% over the past three years.
• The firm is owned by Cimpress, whose other companies include VistaPrint – the No. 36 distributor in the PPAI 100 – and National Pen – the No. 40 distributor in the PPAI 100.

“Thank you, Howard, for your time with Goldstar,” says Charles Duggan, MAS, Goldstar’s vice president of sales, North America. “As we grow to the next level, we’re excited to have Heather leading us into the future and driving the mission of Global Simplicity.”

Smartt’s Background

Joining Goldstar in October as global director of merchandising, product development and sustainability, Smartt’s talent for bridging the North American and European markets has been a key driver in the company’s global product expansion, Goldstar said.

An 18-year veteran of the promotional products industry, Smartt rose through the ranks of Polyconcept, eventually becoming director of category management at PCNA – the No. 3 supplier in the PPAI 100.

• Before joining Goldstar in 2023, she previously served as global director of product development at National Pen.

Sustainability Efforts

A supplier of writing instruments, drinkware and bags, Goldstar has been enhancing its green focus.

• In 2023, the company continued its efforts toward FSC, RCS and GRS certifications, with plans to fully achieve those designations this year.
• It’s also working on testing to provide Scope 3 emissions on all products and digital passports for its premium goods.

Product-wise, Goldstar and its newly formed Green Team introduced 57 new “Made Better” items last year, created with recycled and thoughtfully sourced materials. That included a Coastal Collection made from recycled ocean-bound plastic, released in North America in November and across Europe in February 2024.

More eco-friendly products are ahead, with Goldstar announcing earlier this year a partnership with Ocean Bottle. The company also plans to launch 70 new products in 2024, including 30 “Made Better” designs.

Written By: John Corrigan

Published with Permission from PPAI

HanesBrands (PPAI 191138, Gold) – the No. 66 supplier in the 2024 PPAI 100 – which operates in the promotional products industry through the Hanes, Champion, ComfortWash and Alternative Apparel brands– has officially signed an agreement on the acquisition of its Champion brand by Authentic Brands Group. It was first reported in April that Authentic Brands had won a bid for the Champion.

• According to HanesBrands, the deal involves a transaction value of $1.2 billion.
• Ultimately, the deal has the potential to reach $1.5 billion contingent on meeting certain performance thresholds.
• Authentic Brands Group is an intellectual property management company. Champion would be joining a host of other well-known brands under its umbrella, including Barney’s New York, Reebok, Brooks Brothers, Eddie Bauer and Nine West.

“Today’s announcement is the culmination of significant effort by our teams to position all of our brands on the optimal path for the future,” says HanesBrands CEO Steve Bratspies. “Over the past three years, we have taken necessary actions to enhance the Company’s operations and financial performance – returning to historical gross margins, reducing our cost structure, lowering our debt levels, and generating consistent cash flow.”

• Champion’s global sales decreased 26% – down 35% in the United States and 17% internationally – in first quarter 2024, according to  HanesBrands’ Q1 2024 earning report. Sales had fallen by 23% in the final quarter of 2023.
• HanesBrands has been seeking a sale of a Champion since the fourth quarter of 2023.
• The apparel giant finished last year with a net debt of $3.1 billion, making the sale of Champion a much-needed financial boost.

“Following a thorough review of options for the global Champion business with the support of our financial and legal advisors, we are pleased to have reached this agreement with Authentic Brands Group that we believe maximizes value for Champion and best positions HanesBrands for long-term success,” says Bill Simon, chairman of the HanesBrands board.

“Importantly, we believe this transaction will enable the Company to accelerate its debt reduction while positioning HanesBrands to deliver consistent growth and cash flow generation through a focused strategy on advancing its leading innerwear brands and optimizing its world-class supply chain.”

 

What’s Ahead For Champion

For Authentic, the acquisition is part of a strategy to expand its portfolio of sports, lifestyle, entertainment and media brands and will increase its system-wide annual retail sales to more than $32 billion worldwide.

“Our successful efforts igniting Reebok’s momentum in sports have created a playbook to achieve a similar feat with Champion,” said Nick Woodhouse, president and chief brand officer of Authentic. “With expansive reach, differentiated channel strategy and a balanced strength across its women’s and men’s businesses, Champion has profoundly influenced sports culture.

“This is the perfect time for the brand to make a significant impact as women’s sports continue to broaden their presence and fandom worldwide.”

Authentic has said that it plans to leverage its platform of consumer verticals to convert the Champion business into a licensed model. It is reportedly in discussions with several existing and potential operators in key regions to manage the manufacturing, physical retail, e-commerce and wholesale operations of the business and maintain the brand’s global footprint.

Written by: Jonny Auping

Published with Permission from PPAI