The European business of US group HanesBrands, notably the owner of French underwear brand Dim since 2014, has been sold to a subsidiary of US private equity firm Regent L.P. for the symbolic sum of €1.
The sportswear brand posted a year-over-year increase of 33% in its sales in the third quarter, driving growth at its Winston-Salem, North Carolina-based parent company, which reported total revenues of $1.79 billion.
Apparel group HanesBrands, owner among others of Playtex and Champion, has published its annual results, presenting a new strategic plan that includes the sale of its European assets, including labels like Dim.
The Winston-Salem, North Carolina-based owner of brands including Champion and Playtex announced better-than-expected third-quarter financial results on Thursday, but provided a less impressive outlook.
HanesBrands, a US-based global marketer of branded everyday basic apparel, reported only a 1.3% decline in its net sales to $1.73bn during Q2, and net income for the quarter rose to $161.8m from $149.5m.
After the retirement of previous chief executive officer Gerald W. Evans Jr. was announced in March, HanesBrands has announced Stephen B. Bratspies as the company's new CEO and board member, effective August 3.
The North Carolina-based owner of brands including Hanes and Champion reported a Q1 loss on Thursday, as a stronger-than-expected performance early in the quarter was undermined by the coronavirus pandemic.
HanesBrands announced on Tuesday that it has signed a multiyear agreement with e-commerce giant Amazon for the exclusive distribution of its value-priced C9 Champion brand, previously available only at Target stores.