HanesBrands starts search for new CEO; signs deal with Amazon
The chief executive of HanesBrands is retiring.
The basic apparel and intimates giant announced that Gerald W. Evans Jr. plans to retire at the end of its current fiscal year, which ends Jan. 2, 2021. The company, whose brands include Champion, Hanes, Maidenform, Bali, Playtex and more, has begun a search process for his successor with the assistance of executive search firm Russell Reynolds Associates.
Evans, 60, joined Hanes in 1983 and was appointed CEO in 2016. Under his leadership, the company’s annual revenue has grown to nearly $7 billion. Evans has guided rapid growth of the company’s international commercial operations, overseen the doubling of the Champion brand’s annual sales to nearly $2 billion and fostered consumer-directed sales with 25% of total revenue now occurring online.
In other news, HanesBrands announced an agreement with Amazon to make its value-priced C9 by Champion line an Amazon exclusive. It is the first time that C9 will be available globally. (Mainline Champion products are already sold on Amazon.)
In late 2018, Hanes was dealt a blow when Target said it would not renew its contract to sell the C9 line when it expired at the end of January 2020.
The C9 line launches on Amazon with more than 100 styles of men’s, women’s and children’s activewear, innerwear and accessories. Both Champion and C9 Champion have branded storefronts on the Amazon Fashion platform.
“The program is launching with a focus on top styles, but based on past popularity, we expect it to expand over time,” said Evens Jr. “We are excited that in addition to being available to U.S.-based fans the C9 Champion product line will be sold globally for the first time.”