Champion will be sold for 1 billion dollars

Champion has always been the flagship of American sportswear. Even today, the first logo that comes to mind when we think of collegiate crewnecks and hoodies is the blue and red bicolor C, despite being introduced 38 years after the company's foundation, which will have a new owner starting from the coming months. Champion, formally still owned by Hanesbrands, will be acquired by the American multinational Authentic Brands Group for a figure around 1 billion dollars. The new owner, therefore, adds Champion to an already vast array of brands, ranging from Reebok, Brooks Brothers, Barneys New York, Ted Baker, Nautica, Juicy Couture, Forever 21, Nine West, Sperry, Rockport to Quiksilver, Billabong, Roxy, DC Shoes, and Volcom. It is one of the largest companies in the sports and entertainment sector: Authentic's brands generate over 29 billion dollars in annual global retail sales and have a well-established commercial presence. Consider that the aforementioned brands are physically present in 150 countries, with 13,300 independent stores and 382,000 points of sale.

The agreement is expected to close between late May and early June 2024. Naturally, it is reasonable to imagine what the future Champion will be like: first of all, several authoritative sources in the industry have stated that thousands of jobs could be lost following Authentic Brands Group's acquisition, as it is likely that Champion will outsource much of the label's production, design, and logistics to external companies. It will be intriguing to imagine how and if the new multinational will change the future of the American brand, trying to exploit a heritage that rivals the most important players in the industry. Authentic Brands Group could reintroduce Champion into the world of sports, recalling the role played by the brand for high schools starting from the 1920s and '30s of the Twentieth century. In 1926, Champion collaborated with Wentworth Military Academy providing their school uniforms. This would have been the first of many teams sponsored by Champion, but it was only in 1934 that it collaborated with Moe’s Sport Shop presenting collegiate sweatshirts and t-shirts with the University of Michigan emblem: a choice that gave life to collegiate clothing as we know it and gave birth to the first hoodie in history.

Moreover, Champion has been the main supplier for all teams participating in the NBA from 1987 to 2001. It also sponsored the United States basketball team that participated in the 1992 Summer Olympics and made its mark in soccer as well, appearing over the years on the jerseys of Parma and Sochaux. Thus, Authentic Brands Group is facing a valuable heritage to leverage as it pleases: all that remains is to wait and see what the future holds for Champion.