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Champion Sale: Hanesbrands’ Strategic Move

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Hanesbrands Inc.’s sale of its Champion brand is heating up as bids are evaluated following the auction’s deadline. With Goldman Sachs & Co. and Evercore overseeing the process, multiple bids have been received, although the bidders remain undisclosed. The auction is a significant move for Hanesbrands, with a starting bid of $1.4 billion, nearly its entire market capitalization.

Potential buyers, including Authentic Brands Group and G-III Apparel Group, have shown interest, indicating a competitive sale process. For Hanesbrands, selling Champion could provide a much-needed financial boost, as the company aims to reduce its net debt of $3.1 billion.

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Despite facing challenges in the activewear market, Champion remains a strong brand with global recognition. Hanesbrands has been working to revamp the Champion business, focusing on product mix and channel segmentation. However, the brand’s global sales fell by 23% in the fourth quarter, reflecting the short-term impact of strategic changes.

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Hanesbrands’ CEO, Steve Bratspies, remains optimistic about Champion’s long-term prospects, emphasizing the company’s commitment to enhancing the brand’s performance. While short-term challenges are expected, Hanesbrands believes its strategic actions will drive long-term profitability.

The sale of Champion represents a strategic move for Hanesbrands, allowing the company to streamline its operations and focus on its core business. For potential buyers, acquiring Champion could provide a strong brand with growth potential, particularly as the activewear market continues to evolve.

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Overall, the sale of Champion is a key development in the retail industry, highlighting the importance of strategic partnerships and brand management in today’s competitive market. As the bidding process progresses, the future of Champion and its impact on Hanesbrands will be closely watched by industry observers.

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