Hanes Outlet and Maidenform stores acquired by Hilco division
HanesBrands continues to shrink its brick-and-mortar portfolio.
Hilco Consumer-Retail has acquired the operations for HanesBrands' Outlet and Maidenform stores, effective July 27. The financial terms of the transaction were not revealed. Hilco did not respond to inquiries as to how many stores were involved in the deal.
The acquisition comes roughly two months after HanesBrands, parent company of Hanes Outlet and Maidenform stores, entered into an agreement to sell the intellectual property and certain operating assets of its Champion business to Authentic Brands Group for a transaction value of $1.2 billion.
HCR said its priority is to retain the Hanes Outlet and Maidenform store teams, and to work closely with landlords “to ensure long-term success of the new enterprise.” However, as part of the transition, HCR will introduce new corporate and operational leadership.
In a statement, HCR said the acquisition aims to leverage its RevUp program, which combines a state-of-the-art virtual store management platform with retail experts and 30-plus years of retail operational expertise, “putting store teams and customers at the forefront of everything that happens in stores,” the company said.
“RevUp will enable us to achieve unparalleled brick and mortar performance by focusing on our store teams' and our customers' in-store experience,” HCR stated.
"This transaction underscores Hilco Consumer-Retail's commitment to forge long-term partnerships built on trust, transparency, strategic alignment, and operational excellence,” stated Ian Fredericks, president and CEO of HCR. “We are thrilled that Hanes selected us to continue their retail brick and mortar operations, and we are excited to hit the ground running with the dedicated store teams to improve our customers' experience."
HCR’s activities fall into several principal categories including virtual store management technology, capital solutions, inventory solutions, fixtures, furniture and equipment monetization and M&A facilitation. It is is part of Northbrook, Ill. based Hilco Global.
