Hanesbrands is focusing on ecommerce and their Champion brand to reach young consumers. During COVID, the apparel manufacturer started producing PPE to “offset sales declines in the core innerwear and activewear businesses”—and while it temporarily boosted revenue, they no longer see it as a “long-term growth opportunity.” Instead, they unveiled a Full Potential Plan, which is designed to “drive growth and improve profitability.” As part of it, the company will grow their Champion brand, focusing on younger customers, ramping up their ecommerce, and streamlining their product portfolio. (Motley Fool)
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