Gildan Activewear Inc. set to relaunch American Apparel next week

By zaymalz malz

Having bought American Apparel earlier this year, retailer Gildan activewear is set to relaunch the company, with its ecommerce operation set to launch next week.  

Gildan Activewear bought the intellectual property rights to American Apparel for $88mn in January, fighting off rival interest from Authentic Brands Group and Next Level Apparel.

See Also:

The company became available after it filed for bankruptcy following a period of consistent decline in sales, but with new owners Gildan Activewear revamping the brand, Chief Executive Glenn Chamandy remains confident in the deal.

“At the end of the day we will do very well with this brand,” he commented.

“This will hopefully be one of the best acquisitions the company has ever made, in terms of return on investment, so we’re very excited about it.”

Gildan will continue production of some American Apparel lines but will be using Gildan’s low cost global production networks to expand the brands availability and growth.

The company anticipates sales of between $50mn to $75mn for the remainder of 2017.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI