Winston-Salem, N.C.-based apparel manufacturer HanesBrands Inc. has announced it is restructuring
its global imagewear business, which sells basic apparel to wholesalers in the screen-print market
and accounts for 8 percent of the company’s sales.
The company will sell the European imagewear division to an affiliate of Smartwares BV — a
consumer goods company based in The Netherlands — for approximately $20 million. With regard to its
U.S. imagewear division, HanesBrands will discontinue private-label production and exit its Outer
Banks brand business, which produces golf, corporate and sportswear apparel for men and women. The
company reports it will work with affected customers on transition plans.
To reflect its new strategic direction, HanesBrands will rename its imagewear operations
branded printwear. That business will focus on Hanes® and Champion® branded products in the United
States, with the expectation of improving operating margins and realizing annual sales totaling
approximately $150 million in 2013.
“We are a branded company,” said Richard A. Noll, chairman and CEO, HanesBrands. “That
includes being committed to branded printwear in the United States where we can partner with our
wholesale customers to take advantage of our strong consumer brands and product differentiation.
With our exit from Europe, we can devote all of our energies to growing our branded portfolio in
core geographies in the Americas and Asia.”
June 5, 2012