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

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2021

US FTC votes to reverse course on repeal of fabric care labels

The US Federal Trade Commission (FTC) recently voted to retain the...

Pic: Shutterstock

Retail | On 4th Aug 2021

June retail turnover in Germany up by 4.2% over previous month

Retail sales in Germany rose much more than expected in June...

Pic: Kontoor Brands/Wrangler

Apparel/Garments | On 4th Aug 2021

US’ Kontoor aims for sustainable growth with diversity & inclusivity

Kontoor Brands, an American apparel company with denim brands like...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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


July 2021

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


Advanced Search