The US textile group Hanesbrands Inc. is considering separating from its sportswear brand Champion. Hanesbrands announced on Tuesday that the group’s management bodies are currently examining “strategic options” for the label together with their financial advisors from Goldman Sachs and Evercore. A “wide range of alternatives” are being examined, including a possible sale of Champion.
Just a few days ago, Hanesbrands had awarded Champion’s outerwear license for North America to the US clothing group G-III Apparel Group Ltd. and took this opportunity to emphasize that further options are being considered to make G-III a global “key partner” of Champion.
However, the group emphasized that a decision had not yet been made about the future of the brand. It was also not explicitly ruled out that Champion would remain at Hanesbrands. The aim of the ongoing review is to position the group of companies in the best possible way for further growth and the creation of shareholder value, said Ronald Nelson, Chairman of Hanesbrands, in a statement.