HanesBrands and the University of Mississippi Extend Long-Term Apparel Partnership

Rhea-AI Summary

HanesBrands (HBI) secures exclusive rights to design, manufacture, and distribute Ole Miss fanwear in the mass retail channel through a three-year extension of their current apparel partnership. The partnership includes more than two dozen elite schools and a dozen leading universities, showcasing HanesBrands' commitment to quality, innovation, and retail experiences.

Insights

Market Research Analyst

The extension of HanesBrands' partnership with the University of Mississippi is indicative of the company's commitment to maintaining its stronghold in the collegiate fan apparel market. This move is likely to bolster brand loyalty and consumer retention within the mass retail channel, a critical segment considering the competitive nature of the apparel industry. The association with a reputable institution like Ole Miss reinforces HanesBrands' market positioning as a leading provider of licensed sports apparel.

The exclusivity of the deal ensures that HanesBrands will continue to benefit from the visibility and sales opportunities that come with being the sole provider of Ole Miss fanwear in mass retail outlets. This is particularly significant given the passionate fan base of college sports in the United States, which translates into consistent demand for fan apparel. The partnership also leverages HanesBrands' strengths in design and manufacturing, potentially enhancing the company's reputation for quality and innovation in this niche market.

Sustainability Expert

HanesBrands' emphasis on sustainability, as mentioned in the context of their collegiate apparel program, is a strategic move that aligns with the growing consumer demand for environmentally responsible products. The inclusion of brands like Alternative Apparel and ComfortWash, known for their eco-forward initiatives, not only diversifies the product offering but also enhances the company's corporate social responsibility profile. The use of U.S.-grown cotton in the ComfortWash collection could appeal to consumers who are increasingly conscious of the environmental impact of their purchases, potentially leading to a competitive advantage in the market.

Financial Analyst

For investors, the partnership extension with Ole Miss can be seen as a positive signal for HanesBrands' future revenue streams and market share preservation. Exclusive agreements with high-profile universities serve as a barrier to entry for competitors and can provide a stable source of income. Additionally, the deal may contribute to the company's efforts to strengthen its licensed sports apparel division, which can have a favorable impact on the company's overall financial health. However, it's important to monitor the actual sales performance resulting from this agreement and how it contributes to HanesBrands' bottom line over the next three years.

HanesBrands retains exclusive rights to design, manufacture and distribute Ole Miss fanwear in the mass retail channel

WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- HanesBrands (NYSE:HBI), the world’s largest supplier of collegiate fan apparel, and the University of Mississippi (“Ole Miss”) announced they have signed a three year extension of their current apparel partnership that grants HanesBrands exclusive rights to Ole Miss fanwear in the mass retail channel.

HanesBrands, the world’s largest supplier of collegiate fan apparel, and the University of Mississippi (“Ole Miss”) announced they have signed a three year extension of their current apparel partnership that grants HanesBrands exclusive rights to Ole Miss fanwear in the mass retail channel. (Graphic: Business Wire)

The University of Mississippi is one of more than two dozen elite schools that have exclusive mass retail partnerships with HanesBrands, including Florida State, Penn State, the University of Michigan, Clemson University and Auburn University. In addition, more than a dozen leading universities have primary apparel partnerships with HanesBrands, including the University of North Carolina at Chapel Hill, the University of Cincinnati, The Ohio State University and the University of Georgia.

“Ole Miss has a rich and unique history as a university and in college athletics, and we’re proud to play a part as we continue to support their dedicated fans,” said John Fryer, HanesBrands President of Licensed Sports Apparel. “It’s our commitment to match their deep-rooted spirit and passion with our quality, innovative apparel and unrivaled retail experiences.”

The partnership extension with HanesBrands was completed in conjunction with the university’s exclusive licensing agent, CLC.

“It has been a pleasure to work with HanesBrands and we look forward to the next three years to see what we can do together for Ole Miss fans,” added Kathy Tidwell, Director of Contractual Services and University Licensing at the University of Mississippi.

HanesBrands, a global apparel company, is renowned for its world-class, in-house design expertise, manufacturing proficiency and commitment to sustainability. In addition to Champion and Hanes, the eco-forward Alternative Apparel brand and ComfortWash® brand are also included in the company’s collegiate apparel program. The ComfortWash collection features vintage-washed tees and sweats made with cotton grown in the U.S.

About HanesBrands

HanesBrands (NYSE: HBI) makes everyday apparel that is known and loved by consumers around the world for comfort, quality and value. Among the company’s iconic brands are Hanes, the leading basic apparel brand in the United States; Champion, an innovator at the intersection of lifestyle and athletic apparel; Bonds, which is setting new standards for design and sustainability; Maidenform, America’s number one shapewear brand; and Bali, America’s number one bra brand. HBI employs 48,000 associates in 29 countries and has built a strong reputation for workplace quality and ethical business practices. The company, a longtime leader in sustainability, has set aggressive 2030 goals to improve the lives of people, protect the planet and produce sustainable products. HBI is building on its unmatched strengths to unlock its #FullPotential and deliver long-term growth that benefits all of its stakeholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240311602028/en/

Nicole Ducouer (336) 986-7090

Source: HanesBrands

FAQ

What company retains exclusive rights to design, manufacture, and distribute Ole Miss fanwear in the mass retail channel?

HanesBrands (HBI) retains exclusive rights to design, manufacture, and distribute Ole Miss fanwear in the mass retail channel.

How long is the extension of the apparel partnership between HanesBrands and the University of Mississippi?

The extension of the apparel partnership between HanesBrands and the University of Mississippi is for three years.

Which other universities have exclusive mass retail partnerships with HanesBrands?

Other universities with exclusive mass retail partnerships with HanesBrands include Florida State, Penn State, the University of Michigan, Clemson University, and Auburn University.

What are some of the leading universities that have primary apparel partnerships with HanesBrands?

Leading universities with primary apparel partnerships with HanesBrands include the University of North Carolina at Chapel Hill, the University of Cincinnati, The Ohio State University, and the University of Georgia.

What brands are included in HanesBrands' collegiate apparel program?

Champion, Hanes, Alternative Apparel, and the ComfortWash brand are included in HanesBrands' collegiate apparel program.