Hanesbrands' Champion & Coca-Cola Team Up For New Collection
Zacks Investment Research | Nov 24, 2019 08:37PM ET
Hanesbrands Inc.’s (NYSE:HBI) renowned Champion Athleticwear brand teamed up with Coca-Cola Company (NYSE:KO) to launch a limited edition capsule collection called Champion X Coca-Cola. The collection marks a combination of logos of two popular brands with flamboyant color schemes and designs inspired by American heritage as well as the classic Coca-Cola bottle.
The full range of men's and women's apparel along with accessories like hats, socks, slides and bags are now available at six Champion retail stores in major cities in the United States, as well as Champs Sports and Foot Locker (NYSE:FL) stores across the United States and Canada. The newly launched collection is also available at Footaction stores and online platforms like Eastbay.com and Champion.com.
The new capsule collection is expected to reap benefits from the popularity of the Cola-Cola brand and gain traction in the athleticwear market.
Champion — a Major Driver for Hanesbrands
Apart from this, Hanesbrands’ Champion brand has collaborated with other iconic brands and designers globally. This year, the athleticwear company teamed up with brands like prominent menswear designer, Todd Snyder, and lifestyle gaming brands, HyperX and Dr. Seuss. Additionally, Champion earlier collaborated with popular brands like Supreme, Off-White and Beams.
Reportedly, Champion is the second-largest brand for Hanesbrands, which is poised to keep driving the company’s performance.
During the third quarter of 2019, global Champion sales increased 26% at constant currency, excluding the U.S. mass channel. While domestic Champion sales grew 29%, international Champion sales rose 24%, with double-digit gains in Europe, Asia and Australia.
Hanesbrands, which shares space with Guess? (NYSE:GES) , is on track with the expansion of the Champion product portfolio, with increasing distribution in large economies such as China and South Korea. Such well-chalked plans are expected to deliver double-digit growth in Hanesbrands’ Champion brand sales in 2020 and beyond.
Shares of this Zacks Rank #3 (Hold) company have gained 20% in the year-to-date period, outperforming the Original post
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