Back in November the word came down that Gildan Activewear had put in a bid to acquire American Apparel. Today the word on the e-streets is that Gildan Activewear has officially won the auction for American Apparel and will purchase the brand. The brand had to increase its initial offer by $22 million USD.
Gildan is expected to keep some of American Apparel’s Los Angeles-based manufacturing, distribution, and warehouse operations intact. Gildan will not be taking over the retail side of things, while American Apparel will also keep their remaining brick and mortar locations. Speak your mind on the news in the comments below and let us know your thoughts below.