American Apparel, the beleaguered retailer with a historical past of risqué advertising and marketing, will near all a hundred and ten of its U.S. suppliers, but its manufacturer title will stay on.
On Jan. 10, Montreal-dependent Gildan Activewear acquired American Apparel for $88 million, a deal that contains American Apparel’s intellectual property legal rights and producing gear. Both Amazon and Without end 21 bid for American Apparel as effectively, in accordance to Reuters.
Gildan designs to include the American Apparel manufacturer to its portfolio, which contains Gold Toe socks and Silks hosiery. Gildan also has licensing agreements with New Stability, Less than Armour and Mossy Oak.
“We see potent possible to develop American Apparel profits by leveraging our in depth printwear distribution networks in North America and internationally to generate even further current market share penetration in the trend fundamental principles phase of these marketplaces,” stated Glenn Chamandy, president and CEO of Gildan, in a statement.
American Apparel founder Dov Charney was fired from the company as CEO in 2014 following quite a few personnel lawsuits for sexual harassment and a nude photo scandal involving an personnel. Less than Charney, the manufacturer also confronted criticism for its racy advertising and marketing. In the write-up-Charney period, American Apparel refocused, launching a new promoting initiative very last yr that included a lot more sizing solutions with a renewed concentrate on its ecommerce and cellular attempts.
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