Hanesbrands is considering a sale of its Champion sportswear brand and WHP Global and Authentic Brands Group are both interested in buying it.
Hanesbrands is considering a sale of its Champion line, and brand management firms WHP Global and Authentic Brands Group are both interested in buying it.
Hanesbrands announced it was evaluating strategic options for Champion in late September — a little over a month after activist firm Barington Capital Group beganto cut costs and generate cash as sales fall. At the time, Hanesbrands said those options could include a potential sale of Champion or another type of strategic transaction. It also said it could hold on to the brand.
WHP and Authentic Brands didn't return requests for comment. Goldman Sachs, which has been tapped as Hanesbrands' financial advisor for its review of Champion, declined to comment.Both WHP and Authentic Brands count a wide range of brands in their portfolios and would be well suited to add Champion to their lists. WHP recently, according to people familiar with the matter. Wolverine said in May that it was exploring a sale of the footwear brand best known for its boat shoes.
"They have a good operational backdrop that they can integrate these brands into, whether that be through licensing, through international expansion, through getting them into physical retail more, through selling them direct to consumer," he said."They almost have an operating model that you can just sort of drop brands into and start seeing better performance."
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