HanesBrands, the U.S. apparel giant, has announced that it is exploring “strategic options” for its global Champion business, including a potential sale. The company’s board of directors and executive leadership team have enlisted the help of financial and legal advisors to determine the best course of action in order to maximize shareholder value.

Champion is a well-established lifestyle brand with a strong presence in the sports industry, credited with being the pioneer of American athletic wear. Ronald Nelson, chairman of the board of directors at HanesBrands, acknowledges the brand’s global appeal and its unique position in the market.

In recent years, the executive leadership team has made significant improvements within Champion, creating a clearer distinction between its innerwear and activewear divisions. Building on these advancements, HanesBrands has initiated a thorough evaluation of strategic options for its global Champion business. The objective is to identify the most effective way forward that will allow both Champion and HanesBrands to reach their full potential and maximize value.

Although no specific timeline has been provided for the completion of this evaluation process, HanesBrands remains committed to a strategy centered around leveraging its iconic brands and competitive advantages to drive accelerated growth and profitability. The company aims to streamline and concentrate all facets of its business while ensuring the long-term success of its brands in both the innerwear and activewear sectors worldwide.

Steve Bratspies, CEO of HanesBrands, emphasizes the significance of executing the company’s strategy and maintaining a focus on serving customers and consumers globally. He highlights the ongoing initiatives to boost revenue growth, improve margins, and generate greater cash flow.

During the evaluation process, HanesBrands will refrain from making further comments until a decision is reached. It should be noted that sales for the Champion brand have experienced a decline in recent quarters, particularly in the U.S. market and overseas. In the company’s most recent trading update in August, HanesBrands reported a 6% decrease in revenues for its global Champion brand compared to the previous year, with a significant drop of 25% in the U.S. market and a 1% decrease in international sales.

The outcome of the evaluation and the potential sale of Champion will be closely monitored by industry experts and stakeholders. It remains to be seen which strategic direction HanesBrands will take to ensure the continued success and growth of its global Champion business.

Useful links:

– [HanesBrands official website](https://www.hanes.com/)
– [Champion official website](https://www.champion.com/)