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Gildan

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Gildan Activewear Inc.
Company typePublic
IndustryTextile, clothing
Founded1984; 42 years ago (1984)
Founders
  • Glenn Chamandy
  • Greg Chamandy
HeadquartersKPMG Tower,
Montreal, QC
,
Canada
Key people
  • Glenn Chamandy (CEO)
  • Rhodri J. Harries (CFO)
RevenueIncrease US$3.27 billion (2024)[1]
Decrease US$618 million (2024)[1]
Decrease US$401 million (2024)[1]
Total assetsIncrease US$3.72 billion (2024)[1]
Total equityDecrease US$1.46 billion (2024)[1]
Number of employees
50,000 (2024)[1]
Subsidiaries
Websitewww.gildan.com

Gildan Activewear Inc. (pronounced [/ˈɡɪldən/]) is a Canadian manufacturer of branded clothing, including undecorated blank activewear such as t-shirts, hoodies and fleeces, which are subsequently decorated by screen printing companies with designs and logos. The company also supplies branded and private label athletic, casual, and dress socks to retail companies in the United States including Gold Toe Brands, PowerSox, SilverToe, Auro, All Pro, and the Gildan brand.[2] The company also manufactures and distributes Under Armour and New Balance brand socks.[3] The company has approximately 50,000 employees worldwide,[1] and owns and operates manufacturing facilities in Rio Nance, Honduras[4] and the Caribbean.

Glenn and Greg Chamandy founded Gildan in 1984 with the acquisition of a knitting mill in Montreal, Quebec, Canada,[5] to make fabric to supply Harley Inc., the childrenswear business already owned by the family. It later expanded to sell t-shirts made of 100% cotton to wholesalers, which resold them to United States and Canadian screen-printers, to be decorated with designs and logos. By 1994, Harley was closed in order to focus on the expansion of what had become Gildan Activewear.[6]

Gildan has factories in low-wage countries like Honduras and Haiti, which has allowed Gildan to lower its price per shirt to below that of Chinese manufacturers as of 2006.[7]

Growth and acquisitions

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Gildan opened its first offshore sewing facility in Honduras, in 1997. The plant was vertically integrated and employed 1,200 workers. A year later, the company achieved an initial public offering and was listed publicly on both the Toronto Stock Exchange and the NYSE American (then the American Stock Exchange).[8]

By 2001, Gildan was the leading distributor of 100% cotton T-shirts in the US as determined by the ACNielsen S.T.A.R.S. Report.[citation needed] The next year, the company opened a knitting, bleaching, dyeing, finishing, and cutting facility in Rio Nance, Honduras.[8]

In 2010, the company invested $15m in Shahriyar Fabric Industries Limited in Bangladesh to support planned growth in Asia and Europe.[9]

Gildan Activewear shirts with Wikia logo

In May 2012, Gildan again expanded with its purchase of 130-year old apparel maker Anvil Holdings, Inc., the parent company of Anvil Knitwear and producer of environmentally-friendly lines of sustainable, recycled, and organic apparel.[10]

In 2014, Gildan acquired Doris Hosiery for CA$110 million.[11]

In February 2015, Gildan announced its intent to purchase the Comfort Colors brand and assets, for a total purchase price of approximately US$100 million.[12]

In 2016, Gildan announced its $55 million purchase of PEDS Legwear.[13]

In 2017, Gildan acquired American clothing company American Apparel for $88 million.[14]

In 2021, Gildan acquired 100 percent of the equity interests of Phoenix Sanford, LLC.[15]

On 11 December 2023, Glenn J. Chamandy left his position as president and chief executive officer and director of the company. Vince Tyra was appointed president and CEO effective 12 February 2024, with Craig A. Leavitt assuming the position of president and Chief executive officer during the interim period.[16]

On 19 March 2024, Gildan announced its intention to sell the company after a special committee review and amid a battle between its top stockholders, following the dismissal and proposed reinstatement of co-founder Glenn Chamandy as CEO.[17]

On 13 August 2025, Gildan agreed to purchase American undergarments manufacturer Hanesbrands for US$2.2 billion in cash and stock. The deal is expected to close in late 2025 or early 2026.[18] Shareholders have approved the deal.[19]

Advertising and sponsorships

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Gildan bought a 30-second spot to air an advertisement during the third quarter of Super Bowl XLVII, broadcast 3 February 2013. The ad was part of an overall $25 million marketing push created by DeVito/Verdi, which included broadcast, print, digital, event marketing, and public relations. Gildan started speaking to the media about its Super Bowl ad in early December 2012.[20]

The company also sponsored the New Mexico Bowl played in Albuquerque from 2011 through 2017.[21]

In a 2017 commercial, Gildan depicted older men in (sometimes ill-fitting) white briefs and urged younger men not to wear their fathers' underwear.[22] Blake Shelton was a spokesperson for the company.[23]

Allegations of labor rights violations

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Genesis, S.A. is a Haitian factory manufacturing T-shirts whose main customer is Gildan Activewear. It has been accused as the most serious offender in a campaign of retaliatory dismissals, targeted at the leaders of a new labor rights and union organizing effort in Haiti's capital, Port-au-Prince.[24][25] According to a 2012 report by Workers Rights Consortium, Gildan "ultimately intervened aggressively at Genesis and, to Gildan’s credit, played a pivotal role in achieving reinstatement. Hanesbrands played a similar role at Multiwear."[26]

References

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  1. ^ a b c d e f g "SEC Form 40-F: Consolidated Financial Statements – Gildan Activewear, Inc. (2024)". U.S. SEC EDGAR. 29 December 2024. Archived from the original on 3 January 2026. Retrieved 3 January 2026.
  2. ^ DeVito/Verdi (4 September 2012). "Leading Apparel Manufacturer Turns To DeVito/Verdi To Develop Retail Brand And Refresh Iconic Gold Toe Brand" (Press release). PR Newswire. Archived from the original on 1 May 2025. Retrieved 3 January 2026.
  3. ^ "2011 Annual Report" (PDF). Gildan. 9 February 2012. Archived (PDF) from the original on 3 January 2026. Retrieved 3 January 2026.
  4. ^ Rodriguez Ceballos, Francelia (18 September 2017). "Gildan expands manufacturing capacity in Honduras with new site". FashionNetwork USA. Translated by Santamaria, Barbara. Archived from the original on 29 September 2022. Retrieved 3 January 2026.
  5. ^ "GIL | Gildan Activewear Inc. Profile". MarketWatch. 10 August 2023. Archived from the original on 14 May 2022. Retrieved 3 January 2026.
  6. ^ "The History of Gildan Wholesale Apparel". The Shirtmax Blog. 23 January 2019. Archived from the original on 3 January 2026. Retrieved 3 January 2026.
  7. ^ Sanford, Jeff (9 January 2006). "Beat China On Cost: Gildan taps other labour pool and trade pacts". Canadian Business. Archived from the original on 7 March 2023. Retrieved 3 January 2026.
  8. ^ a b "Story of Gildan Challenging China". Malaysian Knitting Manufacturers Association. March 2006. Archived from the original on 18 June 2019. Retrieved 17 July 2015.
  9. ^ Barrie, Leonie (31 March 2010). "CANADA: Gildan invests $15m in Bangladesh factory". Just Style. Archived from the original on 26 April 2025. Retrieved 17 July 2015.
  10. ^ Dunn, Brian (3 May 2012). "Gildan Activewear to Purchase Anvil Holdings for $88 Million". Women's Wear Daily. Archived from the original on 16 April 2021. Retrieved 8 February 2024.
  11. ^ "Gildan buying hosiery company Doris for $110-million". The Globe and Mail. 19 June 2014. Archived from the original on 12 June 2024. Retrieved 8 February 2024.
  12. ^ Argiriou, Sophie; Trudel, Anik (4 February 2015). "Gildan Activewear Announces Agreement to Acquire Comfort Colors for $100 Million" (Press release). GlobeNewswire. Archived from the original on 3 June 2019. Retrieved 3 January 2026.
  13. ^ Delean, Paul (27 July 2016). "Gildan snaps up Peds Legwear". Montreal Gazette. Archived from the original on 30 November 2018. Retrieved 27 July 2016.
  14. ^ "Gildan of Montreal pays $88M for insolvent American Apparel brand". CBC News. 10 January 2017. Archived from the original on 12 November 2020. Retrieved 10 January 2017.
  15. ^ Ryan, Thomas J. (30 December 2021). "The 2021 Year In Review: M&A Accelerates Across Active Lifestyle Market". SGB Media Online. Archived from the original on 26 May 2022. Retrieved 3 January 2026.
  16. ^ Hayem, Jessy; Gosselin, Genevieve (11 December 2023). "Gildan Activewear Announces Leadership Changes - Vince Tyra Appointed as President and CEO; Glenn Chamandy Leaving" (Press release). GlobeNewswire. Archived from the original on 16 December 2023. Retrieved 11 December 2023.
  17. ^ "Canadian apparel maker Gildan Activewear is up for sale". CBC News. Thomson Reuters. 19 March 2024. Archived from the original on 20 March 2024. Retrieved 21 March 2024.
  18. ^ Chapman, Michelle (13 August 2025). "Canada's Gildan Activewear is buying HanesBrands for $2.2 billion". Associated Press. Archived from the original on 13 August 2025. Retrieved 13 August 2025.
  19. ^ Craver, Richard (25 November 2025). "Hanesbrands shareholders OK $4.4B sale to Gildan". Winston-Salem Journal. Archived from the original on 27 November 2025. Retrieved 3 January 2026.
  20. ^ Elliott, Stuart (11 December 2012). "Early Kickoff for Marketers at Super Bowl". The New York Times. Archived from the original on 28 October 2019. Retrieved 3 January 2026.
  21. ^ Holcomb, Dave (25 October 2019). "ESPN cuts ties with bowl game sponsor, apparent scam company". Saturday Down South. Archived from the original on 3 January 2026. Retrieved 1 December 2025.
  22. ^ Oster, Erik (24 April 2017). "OKRP, Gildan Advise Millennials, 'Don't Wear Your Dad's Underwear'". Adweek. Archived from the original on 24 May 2024. Retrieved 3 January 2026.
  23. ^ Reuter, Annie (6 June 2016). "Blake Shelton Is Officially an Underwear Model". Taste of Country. Archived from the original on 5 March 2021. Retrieved 3 January 2026.
  24. ^ "Genesis, S.A." Worker Rights Consortium. 2013. Archived from the original on 3 January 2026. Retrieved 22 September 2024.
  25. ^ "Preliminary Report on Unlawful Dismissals at Genesis, S.A. (Haiti)" (PDF). Worker Rights Consortium. 11 October 2011. Archived (PDF) from the original on 3 January 2026. Retrieved 3 January 2026.
  26. ^ Nova, Scott; Champagne, Jessica (11 January 2012). "WRC Update: Workers Reinstated at Genesis, S.A. (Haiti)". Worker Rights Consortium. Archived from the original on 3 January 2026. Retrieved 3 January 2026.
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