The European business of US group HanesBrands, notably the owner of French underwear brand Dim since 2014, has been sold to a subsidiary of US private equity firm Regent L.P. for the symbolic sum of €1.
The sportswear brand posted a year-over-year increase of 33% in its sales in the third quarter, driving growth at its Winston-Salem, North Carolina-based parent company, which reported total revenues of $1.79 billion.
Apparel group HanesBrands, owner among others of Playtex and Champion, has published its annual results, presenting a new strategic plan that includes the sale of its European assets, including labels like Dim.
The Winston-Salem, North Carolina-based owner of brands including Champion and Playtex announced better-than-expected third-quarter financial results on Thursday, but provided a less impressive outlook.
HanesBrands, a US-based global marketer of branded everyday basic apparel, reported only a 1.3% decline in its net sales to $1.73bn during Q2, and net income for the quarter rose to $161.8m from $149.5m.