Authentic Brands Group to acquire Champion
Authentic Brands Group is to acquire the Champion Athleticwear brand and business from Hanes Brands.
The group said the purchase will increase its system-wide annual retail sales to more than $32 billion worldwide.
Founded in 1919 in the US, Champion currently operates in more than 90 countries, with over 40% of its business coming from outside North America.
Jamie Salter, chairman and chief executive officer of Authentic said: “We are excited to acquire Champion, a brand that shares our pioneering spirit.
“Over the last few years, the addition of new brands together with the expansion of live events has grown Authentic into a world leading sports and entertainment licensing company.
“Bringing Champion into the fold further expands our position in this space.”
Authentic said it plans to convert the Champion business into a licensed model. It is currently in discussions with several existing and potential operators in key markets regarding manufacturing, physical retail, ecommerce and the wholesale operations of the business.
Nick Woodhouse, president and chief brand officer of Authentic, said: “Our successful efforts igniting Reebok’s momentum in sports have created a playbook to achieve a similar feat with Champion,.
“With expansive reach, differentiated channel strategy and a balanced strength across its women’s and men’s businesses, Champion has profoundly influenced sports culture.
“This is the perfect time for the brand to make a significant impact as Women’s sports continue to broaden their presence and fandom worldwide.”
