Home / Knowledge / News / Apparel/Garments / Hanesbrands completes acquisition of Gear For Sports
Hanesbrands completes acquisition of Gear For Sports
02
Nov '10
Hanesbrands Inc. announced that it has completed its acquisition of GearCo, Inc., known as Gear For Sports, a leading seller of licensed logo apparel in collegiate bookstores and other channels.

Hanesbrands acquired Gear For Sports, which sells embellished licensed apparel under several brand names, including Hanesbrands' fast-growing Champion label, for $55 million and the retirement of approximately $172 million of debt.

Gear For Sports, which has sales of approximately $225 million a year, is expected to contribute approximately $30 million in sales to Hanesbrands' revenue in the fourth quarter. Hanesbrands included the expected contributions from Gear For Sports in its 2010 sales and earnings guidance issued with the announcement of its third-quarter results on Oct. 27.

“We are very excited to have the strong Gear For Sports operation and management team join Hanesbrands and its powerful global supply chain,” Hanesbrands Chairman and Chief Executive Officer Richard A. Noll said. “Together we have tremendous opportunities to drive new growth and take additional market share in the licensed college, resort and golf channels.”

The Gear For Sports acquisition significantly strengthens the company's strategy of creating stronger branded and defensible businesses in its Outerwear segment, which has included building its Champion activewear brand and increasing sales of higher-margin graphic apparel. With the acquisition, approximately 20 percent to 25 percent of Hanesbrands' Outerwear Segment sales will be graphic apparel.

“We are creating very strong capabilities to serve the large and growing embellished apparel market,” Noll said. “Gear For Sports complements our separate retail graphic apparel business and significantly strengthens our Outerwear segment.”

Gear For Sports President Larry Graveel said, “We are looking forward to taking our success to the next level as part of Hanesbrands. Combining our business model in licensed logo apparel with the assets of Hanesbrands will enable us to extend and expand those attributes that set us apart as an industry leader. It's a seamless and natural fit between two organizations that have strong customer-focused, growth-oriented cultures.”

Founded in 1974, Gear for Sports is one of the largest providers of college and professional athletic licensed logo apparel, selling T-shirts, fleece and other embellished sportswear to college bookstores, golf pro shops and leisure resorts. The company sells apparel under Champion, Gear for Sports and other brands.

Hanesbrands Inc


Must ReadView All

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

German investors keen to invest in Pakistan: top official

Textiles | On 26th Apr 2018

German investors keen to invest in Pakistan: top official

A German traders delegation will soon visit Pakistan to explore...

Courtesy: Uster

Textiles | On 26th Apr 2018

Uster Technologies acquires Elbit Vision Systems

Uster Technologies has announced the successful closure of the...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search