View source for Gildan

{{Short description|Clothing company}}
{{for|Gildan Media|RBMedia}}
{{Use dmy dates|date=October 2019}}
{{Infobox company
| name = Gildan Activewear Inc.
| logo = Gildan logo.svg
| type = [[Public company]]
| traded_as = {{TSX|GIL}}<br>{{NYSE|GIL}}<br>[[S&P/TSX 60|S&P/TSX 60 component]]
| founder = Glenn Chamandy, Greg Chamandy
| area_served =
| key_people = Vince Tyra ([[CEO]]), Rhodri J. Harries ([[CFO]])
| industry = [[Textile industry|Textile]], [[clothing]]
| products =
| services = <!-- Typically, {{increase}} and {{decrease}} are placed before the firm's financial figures in the infobox to indicate an increase or decrease in net income, etc. from the previous year. For FY 2015, they have been removed because Gildan Activewear changed its fiscal year. Consequently, FY2 015 earnings cover a period of 15 months, instead of the normal 12, making the comparison to the previous reporting period useless. The {{increase}} and {{decrease}} figures should be re-added in FY 2017. -->
| revenue = {{increase}} [[United States Dollar|US$]] 4.234 billion <small>(''FY 2022'')</small><ref name="2022_Ann">{{cite web|url= https://www.wsj.com/market-data/quotes/GIL/financials/annual/income-statement|title= Gildan 2022 Annual Report to Shareholders|access-date= 4 March 2023 }}</ref>
| operating_income = {{increase}} [[United States Dollar|US$]] 1.259 billion <small>(''FY 2022'')</small><ref name="2022_Ann"/>
| net_income = {{decrease}} [[United States Dollar|US$]] 705 million <small>(''FY 2022'')</small><ref name="2022_Ann"/>
| assets = {{increase}} [[United States Dollar|US$]] 4.713 billion <small>(''FY 2022'')</small><ref name="2022_Ann"/>
| equity = {{increase}} [[United States Dollar|US$]] 2.55 billion <small>(''FY 2022'')</small><ref name="2022_Ann"/>
| owner =
| num_employees = 44,000 (2020)<ref name="2022_Ann"/>
| parent =
| divisions =
| subsid = [[American Apparel]] (online retailer)
| homepage = {{URL|gildan.com}}
| footnotes =
| intl =
| foundation = 1984
| location_city = [[KPMG Tower]], [[Montreal]], [[Quebec]]
| location_country = [[Canada]]
| locations =
}}
'''Gildan Activewear Inc.''' (/ˈɡɪldən/) is a Canadian manufacturer of branded clothing, including undecorated blank [[Sportswear (activewear)|activewear]] such as [[t-shirt]]s, sport shirts and [[Polar fleece|fleeces]], which are subsequently decorated by [[screen printing]] companies with designs and [[logo]]s. The company also supplies branded and private label athletic, casual, and dress socks to [[retail]] companies in the [[United States]]<ref>{{cite web |url=http://www.marketwatch.com |publisher=Market Watch |title=How to coax profit from the market's 'Great Rotation' |access-date=7 February 2013}}</ref> including [[Gold Toe Brands]], PowerSox, SilverToe, Auro, All Pro, and the Gildan brand.<ref>{{cite web|url=http://www.thefreelibrary.com/Leading%20Apparel%20Manufacturer%20Turns%20To%20DeVito/Verdi%20To%20Develop%20Retail...-a0304242643,|title=Leading Apparel Manufacturer Turns To DeVito/Verdi To Develop Retail Brand And Refresh Iconic Gold Toe Brand.|website=Free Online Library}}{{Dead link|date=April 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> The company also manufactures and distributes [[Under Armour]] and [[New Balance]] brand socks.<ref>[http://gildan.com/corporate/downloads/annual_report_2011_en.pdf 2011 Annual Report]</ref> The company has approximately 44,000 employees worldwide,<ref name="2022_Ann" /> and owns and operates manufacturing facilities in Rio Nance, [[Honduras]]<ref>{{cite web|url=http://www.hondurasweekly.com/money/item/20770-gildan-will-build-new-textile-plant-at-rio-nance|title=Gildan Will Build New Textile Plant at Rio Nance}}</ref> and the [[Caribbean]].
Glenn and Greg Chamandy founded Gildan in 1984 with the acquisition of a [[knitting]] mill in [[Montreal|Montreal, Quebec]], Canada,<ref>{{cite web|url=http://www.marketwatch.com/investing/stock/gil/profile|title=Gildan Activewear Inc.|date=10 August 2023 }}</ref> 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 [[wholesaler]]s, 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.<ref>{{cite web |url=http://www.bwob.ca/profiles/why-t-shirts-and-socks-remain-gildans-bread-and-butter/ |title=HSBC Global Connections&nbsp;– Helping businesses grow internationally |publisher=Bwob.ca |access-date=2013-11-09 |archive-url=https://web.archive.org/web/20130303150233/http://www.bwob.ca/profiles/why-t-shirts-and-socks-remain-gildans-bread-and-butter/ |archive-date=2013-03-03 |url-status=dead }}</ref>
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 [[China|Chinese]] manufacturers as of 2006.<ref name="Beat China On Cost: Gildan taps other labour pool and trade pacts">{{cite web|url=http://www.canadianbusiness.com/business-strategy/beat-china-on-cost-gildan-taps-other-labour-pool%C2%97and-trade-pacts/|title=Beat China On Cost: Gildan taps other labour pool and trade pacts|date=9 January 2006|access-date=9 February 2016|archive-date=12 April 2021|archive-url=https://web.archive.org/web/20210412191826/https://www.canadianbusiness.com/business-strategy/beat-china-on-cost-gildan-taps-other-labour-pool%C2%97and-trade-pacts/|url-status=dead}}</ref>
==Growth and acquisitions==
Gildan opened its first [[offshoring|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 MKT]].<ref name="Story of Gildan Challenging China">{{Cite web|url=http://www.mkma.org/newsletters/2006/Mar2006/StoryofGildan.htm|title=Story of Gildan Challenging China|website=www.mkma.org|access-date=17 July 2015|archive-date=1 February 2015|archive-url=https://web.archive.org/web/20150201044020/http://www.mkma.org/newsletters/2006/Mar2006/StoryofGildan.htm|url-status=dead}}</ref>
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|date=April 2013}} The next year, the company opened a knitting, bleaching, dyeing, finishing, and cutting facility in Rio Nance, Honduras.<ref name="Story of Gildan Challenging China" />
In 2010, the company invested $15m in Shahriyar Fabric Industries Limited in [[Bangladesh]] to support planned growth in Asia and Europe.<ref>{{cite web|url=http://www.just-style.com/news/gildan-invests-15m-in-bangladesh-factory_id107318.aspx|title=CANADA: Gildan invests $15m in Bangladesh factory|publisher=just-style.com|date=2010-03-31|access-date=17 July 2015|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208022056/http://www.just-style.com/news/gildan-invests-15m-in-bangladesh-factory_id107318.aspx|url-status=dead}}</ref>
[[File:WM2006wikiashirts.jpg|upright=1.35|thumb|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.<ref>{{Cite web |last=Dunn |first=Brian |date=2012-05-03 |title=Gildan Activewear to Purchase Anvil Holdings for $88 Million |url=https://wwd.com/business-news/mergers-acquisitions/gildan-buying-anvil-for-88-million-5890780/ |access-date=2024-02-08 |website=WWD |language=en-US}}</ref>
In 2014, Gildan Activewear acquired Doris Hosiery for CA$110 million.<ref>{{Cite web |date=19 June 2014 |title=Gildan buying hosiery company Doris for $110-million |url=https://www.theglobeandmail.com/report-on-business/gildan-buying-hosiery-company-doris-for-110-million/article19235202/ |access-date=8 February 2024 |website=The Globe and Mail}}</ref>
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. Comfort Colors is the leading supplier of garment-dyed undecorated basic T-shirts and sweatshirts for the North American printwear market.<ref>{{cite press release|url=https://www.globenewswire.com/news-release/2015/02/04/1411261/0/en/Gildan-Activewear-Announces-Agreement-to-Acquire-Comfort-Colors-for-100-Million.html|title=Gildan Activewear Announces Agreement to Acquire Comfort Colors for $100 Million|date=4 February 2015|work=Marketwired}}</ref>
In 2016, Gildan Activewear announced its $55 million purchase of [[PEDS Legwear]].<ref>{{cite news|url=https://montrealgazette.com/business/gildan-snaps-up-peds-legwear|title=Gildan snaps up Peds Legwear|last=Delean|first=Paul|work=[[Montreal Gazette]]|date=27 July 2016|access-date=27 July 2016}}</ref>
In 2017, Canadian company Gildan Activewear acquired American clothing company [[American Apparel]] for $88 million.<ref>{{Cite news|url=http://www.cbc.ca/news/business/gildan-american-apparel-1.3928776|title=Gildan wins auction for American Apparel, pays $88M for the brand — but not the stores|newspaper=CBC News|access-date=2017-01-10}}</ref>
In 2021, Gildan acquired 100 percent of the equity interests of Phoenix Sanford, LLC.<ref>{{cite web |last1=Ryan |first1=Thomas |title=The 2021 Year In Review: M&A Accelerates Across Active Lifestyle Market |url=https://sgbonline.com/2021-year-in-review-ma-accelerates-across-active-lifestyle-market/ |website=SGB Media}}</ref>
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.<ref>{{Cite press release |last= |first= |date=2023-12-11 |title=Gildan Activewear Announces Leadership Changes - Vince Tyra Appointed as President and CEO; Glenn Chamandy Leaving |url=https://www.globenewswire.com/news-release/2023/12/11/2793677/0/en/Gildan-Activewear-Announces-Leadership-Changes-Vince-Tyra-Appointed-as-President-and-CEO-Glenn-Chamandy-Leaving.html |access-date=2023-12-11 |website=GlobeNewswire News Room |language=en}}</ref>
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.<ref>{{Cite web |date=19 Mar 2024 |title=Canadian apparel maker Gildan Activewear is up for sale |url=https://www.cbc.ca/news/business/gildan-activewear-up-for-sale-1.7148813 |url-status=live |archive-url=https://web.archive.org/web/20240320144558/https://www.cbc.ca/news/business/gildan-activewear-up-for-sale-1.7148813 |archive-date=20 March 2024 |access-date=21 March 2024 |website=CBC}}</ref>
==Advertising and sponsorships==
Gildan bought a 30-second spot to air an advertisement during the third quarter of the [[2013 Super Bowl]]. 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.<ref>{{cite web|url=https://www.nytimes.com/2012/12/12/business/media/marketers-start-super-bowl-campaigns-early.html|title=Early Kickoff for Marketers at Super Bowl|date=12 December 2012|work=The New York Times}}</ref>
The company also sponsored the Gildan New Mexico Bowl, which was played 15 December 2012, in Albuquerque.<ref>http://www.gildannewmexicobowl.com,ESPN{{dead link|date=January 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
In a 2017 commercial, Gildan depicted older men in (sometimes ill-fitting) white [[briefs]] and urged younger men not to wear their fathers' underwear.<ref>{{Cite web|url=http://adweek.it/2pXiDHb|title=OKRP, Gildan Advise Millennials, 'Don't Wear Your Dad's Underwear'|website=adweek.it|date=24 April 2017 }}</ref> [[Blake Shelton]] was a spokesperson for the company.<ref>{{Cite web|url=http://tasteofcountry.com/blake-shelton-underwear-model-gildan/|title=Blake Shelton Is Officially an Underwear Model|first=Annie|last=Reuter|website=Taste of Country|date=6 June 2016 }}</ref>
==Allegations of labor rights violations==
Genesis, S.A. is a [[Haiti]]an 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]].<ref>{{Cite web|url=https://www.workersrights.org/factory-investigation/genesis-s-a/|title=WRC Factory Investigation Genesis, S.A.|publisher=Workers Rights Consortium|date=2013|accessdate=22 September 2024}}</ref><ref>[https://www.workersrights.org/wp-content/uploads/2016/02/Haiti-SOTA-Preliminary-Report-10-11-2011.pdf "Preliminary Report on Unlawful Dismissals at Genesis, S.A. (Haiti)"], 11 October 2011.</ref>
According to Workers Rights Consortium, https://www.workersrights.org/communications-to-affiliates/wrc-update-workers-reinstated-at-genesis-s-a-haiti/, dated January 11, 2012:
"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."
==References==
{{Reflist}}
==External links==
* {{Official website|gildan.com}}
* [https://gildanbrands.com.au/ Official Australian Website]
{{S&P/TSX 60}}
{{Morningstar National Bank Québec Index}}
{{Authority control}}
[[Category:1984 establishments in Quebec]]
[[Category:Clothing brands of Canada]]
[[Category:Clothing companies established in 1984]]
[[Category:Canadian companies established in 1984]]
[[Category:Clothing companies of Canada]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the Toronto Stock Exchange]]
[[Category:Manufacturing companies based in Montreal]]
[[Category:S&P/TSX 60]]
[[Category:1997 initial public offerings]]