Hanesbrands buys Australian distributor for $9m
US-based clothing company Hanesbrands has bought an Australian apparel distributor for $9 million to expand the reach of its Champion brand in Asia.
TNF Group, based in Scoresby, Victoria, had already been selling and distributing Champion apparel in Australia and New Zealand under a licensing agreement.
TNF had a combined $20 million in activewear sales in 2010, according to Hanesbrands. Hanesbrands said the deal also is expected to expand outerwear sales in Australia.
TNF also sells activewear and sportswear to sports and retail stores under the Leluu, Performax, and Track N Field brands. It also sells custom sports clothing to Australian private schools and operates three retail stores.
Hanesbrands’ international sales represented $127 million in revenue in the first quarter – up 23.6% from a year ago. The operating profit was up 86% to $20.2 million.
The company said its international goals have been focused on driving sales of basic and intimate apparel and activewear in Asia and the Americas.
“Our accelerating international growth is duplicating our success in the United States by increasing market share through strong consumer brands in core categories supported by our low-cost global supply chain,” said Richard Noll, the chairman and chief executive of Hanesbrands. “This model should allow us to sustain substantial International growth for years.”
About 60 employees will join Hanesbrands as part of the deal.
