Sara Lee Branded Apparel announced that when its spin-off from Sara Lee Corporation is complete, the new company will be re-named as Hanesbrands Inc.
In February 2005, Sara Lee Corporation announced a plan to transform the company, better positioning it for long-term growth. As part of the transformation plan, the corporation is simplifying its portfolio to focus on food, beverage, and household and body care, and has announced its intent to spin off its Americas/Asia apparel business into an independent, publicly held company. The spin-off is expected to be completed between July and September 2006. The new name does not become effective until after the spin-off is complete.
Lee Chaden, chief executive officer of Sara Lee Branded Apparel, said that in picking the new name, the company focused not only on its flagship brand but also its commitment to producing branded products. The companys portfolio includes Hanes, Champion, Playtex, Bali, barely there, Leggs and Just My Size. “Picking a new name for a 100-year-old company is a rare opportunity,” said Chaden. “Our employees are very excited about this choice.”
The company retained Landor Associates, an internationally recognized branding and design consultancy, to develop the name, logo and corporate identify standards for the new company.
