HanesBrands Announces Full Potential Plan to Drive Approximately $1.2 Billion in Incremental Revenue and Operating Margins Above 14% by 2024 - Seite 2

Champion’s growth strategy is organized around four actions:

1. Forging deeper connections with consumers, focusing on three key consumer segments that represent approximately 70% of global activewear category spend.

2. Creating compelling product for each of these segments through globally coordinated design and innovation. In addition to expanding its strong share position in sweats, the company is focused on expanding Champion's offerings in women's and kids’ apparel, innerwear and casual athletic footwear.

3. Growing in key geographies: North America, China, Japan, South Korea and the Big 5 markets in Europe through a combination of digital, wholesale and distribution partners.

4. Expanding online channels, with a focus on making Champion.com a premier brand and shopping experience globally.

• Re-ignite innerwear growth. The company expects global innerwear revenue growth of approximately $200 million through 2024, driven by sales in the United States and Australia. This growth represents a 2% compound annual growth rate on top of 2021 projected sales of nearly $3.7 billion.

In the U.S., the company is pivoting to accelerated and sustainable revenue and profit growth by revitalizing its core, with a focus on doubling its share with consumers under the age of 39. The company believes it can capture significant growth opportunities by leveraging its iconic brands such as Hanes, Maidenform and Bali and its leading share positions and route-to-market scale. HanesBrands is also applying a more consumer-centric, globally coordinated approach to product design and innovation, as well as increasing investments in brand marketing and e-commerce initiatives.

In Australia, Bonds has become the leading innerwear brand by delivering breakthrough product innovation and consumer marketing. The company plans to fuel continued growth through ongoing investment in the Bonds brand and its e-commerce infrastructure.

• Drive consumer-centricity. The company is putting the consumer at the center of everything it does. This consumer-centric mindset is expected to drive growth by delivering innovative products consumers need; improving awareness through increased investments in brand marketing; and making focused investments in digital capabilities, including digital marketing, e-commerce and advanced analytics. The company believes these investments will better empower consumers to shop where, when and how they like to shop.
• Focus the portfolio. The company will continue to simplify all aspects of its business – from global holdings to SKU counts – to enable investment in its key global brands, categories and growth markets.

To enable and unlock growth, the Full Potential plan includes a number of well-defined and well-resourced initiatives. These initiatives fall into five broad categories: