Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale, sources told CNBC.
WHP and Authentic are both brand management firms. WHP owns Anne Klein, Joseph Abboud, Joe’s Jeans, Bonobos, Isaac Mizrahi, Lotto, Toys ”R” Us and Babies ”R” Us and has a 60 percent interest in the Express brand.
Authentic owns more than 40 brands, largely in the fashion and active lifestyle space, including Reebok, Forever 21, Brooks Brothers, Quiksilver, RVCA, DC Shoes, Billabong, Eddie Bauer, Prince, Spyder, and Juicy Couture.
Interested buyers include both strategic and private equity firms, sources told CNBC.
Hanesbrand is not expected to sell the Champion brand until 2024 should it decide to sell.
On September 19, Hanesbrands said it had retained Goldman Sachs and Evercore as financial advisors to evaluate strategic options for the global Champion business, including a potential sale or other strategic transaction, as well as continuing to operate the business.
The exploration comes as Champion has recently struggled to make its numbers. In the second quarter ended July 1, Champion’s sales declined 16 percent year-over-year, declining 25 percent in the U.S. and 1 percent internationally.
Photo courtesy Champion
