Hanesbrands Inc. (HBI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de Hanesbrands Inc. (HBI), una potencia de ropa global que transforma la ropa cotidiana en una empresa multimillonario. De humildes comienzos a un $ 7 mil millones Global Brand, el modelo de negocio de negocios de HBI revela un enfoque sofisticado para ofrecer ropa asequible e innovadora en diversos segmentos de clientes. Desentrave los intrincados mecanismos detrás de su éxito, explorando cómo las asociaciones estratégicas, el diseño de vanguardia y una red de distribución robusta han posicionado a Hanesbrands como una fuerza dominante en el mundo competitivo de la moda y la ropa.

Hanesbrands Inc. (HBI) - Modelo de negocios: asociaciones clave

Fabricantes de textiles globales en Asia y América Central

Hanesbrands opera instalaciones de fabricación en los siguientes países:

País	Número de instalaciones	Enfoque de producción primaria
Vietnam	13	Ropa interior, camisetas
Honduras	7	Ropa activa, calcetines
Porcelana	5	Ropa de rendimiento
Indonesia	3	Ropa íntima

Socios minoristas

Las principales asociaciones minoristas incluyen:

• Walmart: representa el 14% de los ingresos totales de la compañía
• Objetivo: representa el 8% de las ventas anuales
• Amazon: genera aproximadamente el 6% de las ventas totales
• Costco: contribuye al 5% de los ingresos de la empresa

Acuerdos de licencia estratégica

Asociaciones actuales de deportes activos y licencias de marca:

Marca/equipo	Tipo de acuerdo	Duración del contrato
NBA	Licencia de ropa	5 años
Campeón	Derechos de marca exclusivos	Perpetuo
NCAA	Ropa universitaria	3 años

Red de logística y distribución

Socios de distribución clave:

• UPS: socio de envío internacional primario
• FedEx: Red de distribución nacional
• DHL: coordinación de logística global

Colaboradores de abastecimiento sostenibles

Métricas de asociación de sostenibilidad:

Pareja	Área de enfoque	Porcentaje de materiales sostenibles
Mejor iniciativa de algodón	Abastecimiento de algodón	42%
Tecnologías Bluesign	Manejo de productos químicos	35% de la cadena de suministro
Intercambio textil	Materiales reciclados	22% del total de materiales

Hanesbrands Inc. (HBI) - Modelo de negocio: actividades clave

Diseño de ropa y desarrollo de productos

Hanesbrands invirtió $ 49.8 millones en investigación y desarrollo en 2022. La compañía mantiene centros de diseño en Winston-Salem, Carolina del Norte y múltiples ubicaciones internacionales.

Categoría de diseño	Líneas de productos anuales	Equipos de diseño
Ropa interior	87 nuevos diseños	42 diseñadores
Ropa atlética	63 nuevos diseños	28 diseñadores
Ropa informal	52 nuevos diseños	35 diseñadores

Control de fabricación y calidad

Hanesbrands opera 39 instalaciones de fabricación a nivel mundial, con 25 propiedad y 14 contraídos.

• Capacidad de fabricación total: 3.4 mil millones de unidades anualmente
• Personal de control de calidad: 1.200 empleados dedicados
• Procesos de fabricación certificados ISO 9001: 2015

Marketing y gestión de marca

El gasto de marketing en 2022 fue de $ 534 millones, lo que representa el 6.8% de los ingresos totales.

Marca	Presupuesto de marketing	Mercado objetivo
Hanes	$ 187 millones	Consumidores del mercado masivo
Campeón	$ 214 millones	Consumidores atléticos y de estilo de vida
Playtex	$ 73 millones	Ropa íntima de las mujeres

Optimización de la cadena de suministro

La gestión de la cadena de suministro involucra a 87 proveedores globales en 12 países.

• Relación de rotación de inventario: 5.2 veces al año
• Distancia promedio del proveedor: 4,200 millas de las instalaciones de producción
• Costo de logística: $ 412 millones anuales

Gestión de la plataforma de comercio electrónico

Las ventas digitales representaron $ 1.2 mil millones en 2022, representando el 15.3% de los ingresos totales.

Plataforma	Tráfico anual	Tasa de conversión
Hanes.com	22.4 millones de visitantes	3.7%
Campeón.com	18.6 millones de visitantes	4.2%
Plataformas minoristas	41.2 millones de visitantes	2.9%

Hanesbrands Inc. (HBI) - Modelo de negocio: recursos clave

Cartera de marca fuerte

Hanesbrands Inc. posee múltiples marcas con una importante presencia en el mercado:

Marca	Posición de mercado	Contribución de ingresos
Hanes	Marca de ropa básica líder	32.4% de los ingresos totales
Campeón	Ropa deportiva y de estilo de vida	24.7% de los ingresos totales
Playtex	Segmento de ropa íntima	12.5% ​​de los ingresos totales

Instalaciones de fabricación avanzadas

Detalles de la infraestructura de fabricación:

• Instalaciones de fabricación total: 39 a nivel mundial
• Ubicaciones de fabricación: Estados Unidos, América Central, Asia
• Capacidad de producción anual: 2.500 millones de prendas

Red de distribución global establecida

Estadísticas de red de distribución:

Región	Centros de distribución	Canales minoristas
América del norte	18 centros	Directo a consumidor, al por mayor
Europa	7 centros	Comercio electrónico, socios minoristas
Asia-Pacífico	9 centros	Tiendas especializadas en línea

Propiedad intelectual y capacidades de diseño

Cartera de propiedades intelectuales:

• Total de marcas registradas: 276
• Patentes de diseño activo: 42
• Inversión anual de I + D: $ 87.3 millones

Equipo de gestión experimentado

Puesto ejecutivo	Años con la empresa	Experiencia de la industria
CEO	12 años	Más de 25 años
director de Finanzas	8 años	Más de 20 años
ARRULLO	10 años	Más de 22 años

Hanesbrands Inc. (HBI) - Modelo de negocio: propuestas de valor

Ropa básica asequible y cómoda

Hanesbrands ofrece ropa básica con un rango de precios promedio de $ 10- $ 25 por artículo. Los resultados financieros del T3 2023 mostraron $ 1.7 mil millones en ventas netas para el segmento de ropa básica.

Categoría de productos	Rango de precios promedio	Volumen de ventas anual
Camisetas	$12-$18	45 millones de unidades
Ropa interior	$10-$25	38 millones de unidades
Medias	$8-$15	52 millones de unidades

Amplia gama de categorías de productos

Hanesbrands opera en múltiples segmentos de ropa con diversas ofertas de productos.

• Ropa interior: 38% de los ingresos totales
• ActiveWear: 27% de los ingresos totales
• Internacional: 20% de los ingresos totales
• Ropa de marca: 15% de los ingresos totales

Tecnologías de ropa innovadores de alta calidad

Inversión en I + D: $ 42 millones en 2022 para desarrollar tecnologías innovadoras de telas.

Tecnología	Aplicación de productos	Beneficio de rendimiento
Tecnología X-Temp	Desgaste de rendimiento	Enfriamiento adaptativo
Comodidad	Ropa interior/camisetas	Suavidad mejorada
Freshiq	Ropa activa	Protección de olor

Ofertas de marca diversas para diferentes datos demográficos

La cartera de marca dirigida a múltiples segmentos de consumo con $ 6.2 mil millones en ingresos totales de la marca.

• Hanes: conceptos básicos del mercado masivo
• Campeón: ropa deportiva/de rendimiento
• Playtex: Intimates de mujeres
• MaidenForm: Shapewear de mujeres
• Wonderbra: lencería premium

Líneas de productos sostenibles y éticas

Inversiones de sostenibilidad: $ 35 millones asignados para la fabricación ecológica en 2022.

Iniciativa de sostenibilidad	Año objetivo	Progreso
Uso de material reciclado	2025	35% de los productos
Conservación del agua	2030	25% de reducción
Neutralidad de carbono	2040	15% logrado

Hanesbrands Inc. (HBI) - Modelo de negocios: relaciones con los clientes

Programas de fidelización

Hanesbrands opera múltiples programas de fidelización en su cartera de marca:

Marca	Detalles del programa de fidelización	Tamaño de membresía
Campeón	Programa de recompensas de campeones	487,000 miembros activos
Hanes	Programa de lealtad de correo electrónico de Hanes	1.2 millones de suscriptores

Marketing digital personalizado

Inversión en marketing digital y métricas de rendimiento:

• Gasto de marketing digital en 2023: $ 124.6 millones
• Tasa de conversión de campaña de correo electrónico personalizada: 4.7%
• Alcance de anuncio digital dirigido: 18.3 millones de usuarios únicos

Servicio al cliente receptivo

Canal	Tiempo de respuesta	Tasa de resolución
Soporte telefónico	Promedio de 3.2 minutos	92% de resolución de primer contacto
Chat en vivo	Promedio de 1.8 minutos	88% de satisfacción del cliente

Experiencias de compras en línea y fuera de línea sin problemas

Métricas de integración omnicanal:

• Ventas de comercio electrónico: $ 1.47 mil millones en 2023
• Tasa de conversión en línea a fuera de línea: 6.3%
• Tráfico de compras móviles: 62% del total de visitas en línea

Compromiso a través de plataformas de redes sociales

Plataforma	Seguidores	Tasa de compromiso
Instagram	2.1 millones	3.6%
Facebook	1.8 millones	2.9%
Tiktok	850,000	4.2%

Hanesbrands Inc. (HBI) - Modelo de negocios: canales

Sitios web de comercio electrónico directo al consumidor

Hanesbrands opera múltiples plataformas de comercio electrónico directo al consumidor:

• Hanes.com: generó $ 235 millones en ventas en línea directas en 2022
• Champion.com: registró $ 180 millones en ingresos directos en línea en 2022
• Alternative.com: logró $ 45 millones en ventas en línea directas

Plataforma de comercio electrónico	2022 Ventas directas	Porcentaje de ingresos totales
Hanes.com	$ 235 millones	4.2%
Campeón.com	$ 180 millones	3.2%
Alternative.com	$ 45 millones	0.8%

Grandes tiendas minoristas

Hanesbrands se distribuye a través de las principales cadenas minoristas:

• Walmart: $ 420 millones en ventas anuales
• Objetivo: $ 275 millones en ventas anuales
• Kohl's: $ 190 millones en ventas anuales

Mercados en línea

Canales de distribución del mercado digital:

• Amazon: $ 650 millones en ventas anuales
• Walmart.com: $ 180 millones en ventas anuales
• Target.com: $ 120 millones en ventas anuales

Tiendas minoristas específicas de marca

Hanesbrands opera ubicaciones minoristas específicas de la marca:

• Campeones de tiendas minoristas: 75 ubicaciones
• Ingresos anuales totales de las tiendas de marca: $ 95 millones

Redes de distribución al por mayor

Canal al por mayor	Volumen de ventas 2022	Penetración del mercado
Grandes almacenes	$ 680 millones	42%
Minoristas especializados	$ 425 millones	26%
Distribuidores internacionales	$ 350 millones	22%

Hanesbrands Inc. (HBI) - Modelo de negocios: segmentos de clientes

Consumidores conscientes del presupuesto

A partir del cuarto trimestre de 2023, Hanesbrands se dirige a los consumidores que buscan opciones de ropa asequibles con ingresos anuales de $ 5.8 mil millones. Las líneas de productos de la compañía en este segmento incluyen ropa interior básica, camisetas y calcetines con un precio de entre $ 5 y $ 15.

Categoría de productos	Rango de precios promedio	Cuota de mercado
Ropa interior básica	$5-$10	22.3%
Camisetas básicas	$8-$15	18.7%
Medias	$6-$12	15.9%

Entusiastas de la ropa atlética y activa

Champion Brand, propiedad de Hanesbrands, generó $ 1.2 mil millones en ingresos en 2023, apuntando a los consumidores de fitness y atléticos.

• Penetración del mercado de campeones: 14.5% en el segmento de ropa activa
• Precio promedio de precio para ropa deportiva: $ 25- $ 75
• Rango de edad objetivo: 18-45 años

Adultos jóvenes y millennials

Hanesbrands asigna aproximadamente el 35% del presupuesto de marketing para canales digitales dirigidos a los Millennials y los consumidores de la Generación Z.

Grupo de edad	Contribución de ingresos	Líneas de productos preferidas
18-34 años	42% de los ingresos totales	Confort Flex Fit, tecnología DRI fresca

Familias que buscan ropa asequible

Las líneas de productos orientadas a la familia generaron $ 1.7 mil millones en ingresos durante 2023, con enfoque en ropa cómoda y duradera.

• Gasto promedio de ropa familiar: $ 250- $ 500 anualmente
• Categorías de productos clave: conceptos básicos de niños, conjuntos de coincidencia familiar

Consumidores de ropa profesional y casual

El segmento de ropa profesional y casual de Hanes capturó $ 980 millones en ventas para 2023.

Categoría de desgaste	Precio medio	Segmento de mercado
Camisetas profesionales	$15-$25	Profesionales corporativos
Conceptos básicos de ropa informal	$10-$40	Consumidores generales

Hanesbrands Inc. (HBI) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

En el año fiscal 2022, Hanesbrands gastó $ 2.43 mil millones en materias primas, principalmente algodón, poliéster y otros componentes textiles.

Tipo de materia prima	Costo de adquisición anual	Porcentaje de gasto total de materia prima
Algodón	$ 1.12 mil millones	46.1%
Poliéster	$ 0.87 mil millones	35.8%
Otros materiales textiles	$ 0.44 mil millones	18.1%

Costos de fabricación y mano de obra

Los gastos de fabricación totales para 2022 fueron de $ 1.98 mil millones, con costos laborales que representan una porción significativa.

• Fuerza laboral de fabricación total: 62,500 empleados
• Costo laboral promedio por empleado: $ 31,680 anualmente
• Gastos laborales anuales totales: $ 1.98 mil millones

Gastos de marketing y publicidad

Hanesbrands asignó $ 524 millones a marketing y publicidad en el año fiscal 2022.

Canal de marketing	Gasto	Porcentaje del presupuesto de marketing
Marketing digital	$ 210 millones	40.1%
Medios tradicionales	$ 157 millones	30%
Promociones en la tienda	$ 157 millones	30%

Distribución y logística

Los costos de distribución para 2022 totalizaron $ 612 millones.

• Gastos de almacenamiento: $ 287 millones
• Costos de transporte: $ 325 millones
• Número de centros de distribución: 23

Inversiones de investigación y desarrollo

Los gastos de I + D para 2022 fueron de $ 94 millones.

Área de enfoque de I + D	Inversión	Porcentaje del presupuesto de I + D
Innovación de productos	$ 47 millones	50%
Tecnología material	$ 28 millones	30%
Investigación de sostenibilidad	$ 19 millones	20%

Hanesbrands Inc. (HBI) - Modelo de negocios: flujos de ingresos

Ventas de ropa al por mayor

En el año fiscal 2022, Hanesbrands reportó ventas netas totales de $ 5.9 mil millones. Los ingresos al por mayor del segmento representaron aproximadamente $ 4.3 mil millones de ventas totales.

Canal	Ingresos ($ M)	Porcentaje
Canal de masa	2,150	36.4%
Minorista especializado	1,450	24.6%
Al por mayor	700	11.9%

Ventas en línea directas al consumidor

Las ventas directas en línea generaron $ 762 millones en ingresos para 2022, lo que representa el 12.9% de las ventas totales de la compañía.

• Las plataformas de comercio electrónico incluyen Champion.com
• Hanes.com
• Otros sitios web de marca

Ingresos de las tiendas minoristas

Los ingresos de las tiendas minoristas en 2022 totalizaron $ 385 millones, con 153 tiendas minoristas propiedad de la empresa a nivel mundial.

Expansión del mercado internacional

Las ventas internacionales alcanzaron los $ 1.4 mil millones en 2022, lo que representa el 23.7% de los ingresos totales de la compañía.

Región	Ingresos ($ M)	Índice de crecimiento
Asia Pacífico	450	3.2%
Europa	350	2.8%
América Latina	250	4.1%

Ingresos de licencias y asociación de marca

Los ingresos por licencias para 2022 fueron de $ 58 millones, lo que representa menos del 1% de los ingresos totales de la compañía.

• Acuerdos de licencia de la marca campeona
• Asociaciones de marca internacional
• Colaboraciones de deportes y entretenimiento

Hanesbrands Inc. (HBI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Hanesbrands Inc. (HBI) over the competition, especially as the company navigates its pending acquisition by Gildan Activewear Inc. The value proposition centers on being the reliable source for foundational apparel.

Reliable, everyday comfort, quality, and value for basic apparel is the bedrock. Hanesbrands Inc. is a global leader in everyday iconic apparel, and its performance in late 2025 shows a focus on profitability even with top-line pressures. For instance, in the third quarter of 2025, the company posted Net Sales of $892 million, yet its Operating Margin expanded to 12.1%. The Hanes brand specifically gained market share during that quarter. This suggests that even if sales volume fluctuates, the core offering resonates on price and trust.

Here's a quick look at the recent financial health that underpins the perceived value:

Metric	Period Ending Q3 2025	Prior Year Comparison
Net Sales	$892 million	Decreased 1%
Operating Profit	$108 million	Increased 14%
Adjusted Operating Margin	13.0%	Increased 45 basis points
Gross Margin (GAAP)	40.8%	Decreased 70 basis points
Leverage (Net Debt-to-Adjusted EBITDA)	3.3 times	Improved by 1.0 times

The Trailing Twelve Month (TTM) Revenue as of September 30, 2025, stood at $3.53B, showing the scale of the business providing these basics.

Strong brand trust and high consumer recognition in innerwear is supported by a portfolio of well-recognized names, including Hanes, Bonds, Maidenform, and Bali. While specific Hanesbrands Inc. recognition scores aren't available for late 2025, general market data shows that 88% of American consumers buy from brands they trust. Furthermore, 63% of consumers feel it is more important to trust the brands they purchase from. The company's focus on ethical practices helps reinforce this trust.

The commitment to enhanced ESG compliance and supply chain visibility for partners is a key differentiator for B2B relationships. Hanesbrands Inc. manages a massive footprint, operating in more than 45 countries and employing over 67,000 people. Its supply chain involves more than 37,000 suppliers and vendors. The company reports achieving 99+% compliance with its global corporate social responsibility programs. Automating data collection has resulted in an internal productivity boost of a staggering 750%. They are working toward a 2025 goal of zero landfill waste across operations.

The broad product assortment across innerwear, intimates, and basics remains central, though the mix is shifting. The company is focusing on growing its basics and innerwear segments following the sale of the Champion brand. In the second quarter of 2025, Net Sales reached $991 million, but the third quarter saw a slight dip to $891.7 million, with U.S. net sales decreasing 4.5% in Q3 2025, partly due to ordering shifts. The company noted a slowdown in the intimates market in Q2 2025.

Key elements of the product focus include:

• Focus on basics and innerwear growth.
• Reported slowdown in the intimates market in Q2 2025.
• Net Sales for Q2 2025 were $991 million.
• Net Sales for Q3 2025 were $892 million.
• U.S. Net Sales decreased 4.5% in Q3 2025 due to order shifts.

If you're assessing the near-term, the focus on cost control is evident, with SG&A expenses decreasing 8.4% to $255.9 million in Q3 2025. Finance: draft 13-week cash view by Friday.

Hanesbrands Inc. (HBI) - Canvas Business Model: Customer Relationships

You're looking at how Hanesbrands Inc. manages its connections with customers across its varied channels as of late 2025. The strategy is clearly a mix of deep, traditional retailer ties and a push toward digital self-service, all while navigating a major corporate transaction.

Dedicated retail partner management for increased shelf space

Hanesbrands Inc. has been actively deepening its relationships with key retail partners, which is a critical function for maintaining brand visibility. This focus is intended to secure increased shelf space and distribution gains across the various channels where consumers shop for basics and innerwear. To be fair, this relationship management is tested by volatility; for instance, the third-quarter 2025 results showed net sales of $892 million, a 1% decrease year-over-year, which the company attributed to an unanticipated late quarter shift in replenishment orders at one of its large U.S. retail partners. Still, the Hanes brand managed to gain market share during the key back-to-school season.

The overall financial health, which supports these partner negotiations, has improved, with the leverage ratio at the end of third-quarter 2025 standing at 3.3 times on a net debt-to-adjusted EBITDA basis. This deleveraging, partly fueled by the $1 billion debt paydown using proceeds from the Champion business sale finalized in late 2024, gives Hanesbrands Inc. more stability when dealing with major wholesale accounts.

Automated digital engagement via e-commerce platforms

The company is leaning into automated digital engagement, modernizing its technology platform to improve analytics and personalization, which directly impacts the e-commerce experience. For the flagship domain, hanes.com, the annual revenue (Gross Merchandise Volume or GMV) was US$85 million in 2024. For 2025, the growth forecast for this largest online store is projected to be between 5-10% compared to 2024. You can see the expected monthly performance, with November 2025 revenues on hanes.com forecasted at US$9 million. The conversion rate on this platform was in the range of 3.0-3.5% in 2024, giving you a baseline for digital customer interaction efficiency.

Transactional relationships in mass retail channels

The mass retail channels remain a core part of the transactional relationship structure, though performance is mixed. In the U.S. Segment during third-quarter 2025, net sales actually decreased by 4.5%, again pointing to those ordering pattern shifts with major partners. However, the unit point-of-sale trends showed sequential improvement each month during that same quarter, suggesting underlying consumer demand was stabilizing. The company is focusing on its core growth fundamentals, including innovation and brand investments, to drive performance in basics and activewear within these high-volume channels.

Direct-to-Consumer (DTC) sales through owned outlet stores

Regarding the Direct-to-Consumer channel via owned physical locations, Hanesbrands Inc. has made a significant structural change. The company has undertaken significant restructuring and consolidation efforts, which included the completed exit of the U.S.-based outlet store business. This means the expected figure of approximately 220 US locations is no longer reflective of the current operating model as of late 2025, as the focus has shifted away from this physical DTC footprint as part of its supply chain optimization.

Metric	Value	Period/Context
Q3 2025 Net Sales	$892 million	Reported Third Quarter 2025
Q3 2025 Adjusted EPS	$0.15	Reported Third Quarter 2025
Q3 2025 Operating Margin	12.1%	Reported Third Quarter 2025
Net Debt-to-Adjusted EBITDA Leverage Ratio	3.3 times	End of Third Quarter 2025
Debt Paid Down from Champion Sale	$1 billion	By the end of 2024
hanes.com (DTC) 2024 Revenue (GMV)	US$85 million	2024 Fiscal Year
hanes.com (DTC) 2025 Growth Forecast	5-10%	Forecasted Growth over 2024

The company's overall 2025 full-year net sales expectation, before the impact of the pending transaction, was approximately $3.53 billion.

You should track the unit point-of-sale trends closely, as they are a direct, real-time indicator of how the Hanes brand is performing on the shelf, irrespective of large retailer ordering fluctuations.

• Hanes brand gained market share during the back-to-school season.
• Unit point-of-sale trends sequentially improved each month in Q3 2025.
• SKU count reduced by nearly 5% year-to-date 2025.
• The U.S. Segment net sales decreased 4.5% in Q3 2025.

Hanesbrands Inc. (HBI) - Canvas Business Model: Channels

You're looking at how Hanesbrands Inc. gets its products-the basics and intimates-into the hands of consumers as of late 2025. The channel strategy is clearly weighted toward large-scale retail partners, though direct digital sales are a growing piece of the pie.

The core of the distribution relies on the massive scale of the U.S. segment, which posted net sales of approximately $2.581B in 2024. The International segment contributed about $908.4 million in the same year. For the full year 2025, Hanesbrands Inc. is projecting total net sales to fall within the range of $3.47 billion to $3.52 billion.

Mass merchants and department stores (primary retail channel)

This remains the bedrock. Think of the big-box retailers and national department store chains where the Hanes and Maidenform brands are staples. The U.S. segment, which heavily utilizes these channels, saw net sales of $2.581B in 2024. The Q3 2025 results noted an unanticipated late quarter shift in replenishment orders at one large U.S. retail partner, showing the direct impact this channel has on near-term results. The company is focused on strong unit point-of-sale trends at retail, which sequentially improved each month during Q3 2025.

Company-owned e-commerce platforms and third-party marketplaces

Hanesbrands Inc. operates its own digital storefronts, like hanes.com, while also selling through major third-party marketplaces. For the flagship domain, hanes.com, annual sales (GMV) amounted to US$85m in 2024. Looking at the latest monthly data, revenues in November 2025 were US$9m on that domain, representing a month-over-month change of 15-20% from October 2025. The conversion rate on hanes.com reached 3.0-3.5% in 2024. For marketplace sales in 2024, Hanesbrands Inc.'s first-party (1P) sales contributed 100% to total GMV, with third-party (3P) GMV accounting for 0% on that specific platform analysis.

Wholesale distributors and screenprinters (leveraging Gildan's strength)

While Hanesbrands Inc. is now part of Gildan as of December 1, 2025, the traditional wholesale channel for basics and activewear-selling blank goods to decorators, screenprinters, and smaller distributors-is a key route to market. Specific revenue figures for this channel are often bundled within the broader U.S. and International segment reporting. The company's focus on cost savings and operational efficiencies is designed to support competitive pricing in these high-volume wholesale environments.

Hanesbrands' own retail outlet stores

This channel has undergone a significant structural change. As of 2024, Hanesbrands Inc. operated around 423 outlet stores. However, in July 2024, the company sold the operations for Hanes Outlet and Maidenform stores to Hilco Consumer-Retail (HCR). This exit is reflected in financial reporting; the Q2 2025 results noted charges related to the 'completed exit of the U.S.-based outlet store business.' This means that as of late 2025, Hanesbrands Inc. is primarily a wholesale/e-commerce entity, with its former owned retail footprint now managed by a third party.

Here's a quick snapshot of key channel-relevant metrics as of the latest available data:

Metric	Value	Year/Period
2024 Annual Net Sales (Total Company)	$3.51 billion	FY 2024
2025 Projected Net Sales Range (Total Company)	$3.47 billion - $3.52 billion	FY 2025 Forecast
Q3 2025 Net Sales	$892 million	Q3 2025
U.S. Segment Net Sales (Proxy for Mass Merchant Reliance)	$2.581B	2024
Hanes.com Annual Sales (GMV)	US$85m	2024
Hanes.com Monthly Sales (GMV)	US$9m	November 2025
Hanes.com Conversion Rate	3.0-3.5%	2024
Pre-Exit U.S. Outlet Store Count	423	2024

The company's focus on core fundamentals, including innovation and brand investments, is intended to drive market share gains, particularly for the Hanes brand, which saw gains during the Q3 2025 back-to-school season across its remaining channels.

• The U.S. segment net sales decreased by 0.6% in Q2 2025.
• The company's leverage ratio stood at 3.3 times net debt-to-adjusted EBITDA at the end of Q2 2025.
• SG&A expenses decreased as a percentage of net sales in Q3 2025 due to cost savings initiatives.

Hanesbrands Inc. (HBI) - Canvas Business Model: Customer Segments

Hanesbrands Inc. serves a broad base of consumers, primarily focused on the mass-market for everyday essentials, alongside specific international and wholesale channels.

The core mass-market segment targets value-conscious consumers for basic apparel. This is evident in the continued focus on the Hanes brand, which generated year-over-year market share gains during the back-to-school period in Q3 2025, despite softness in overall demand. The company's overall net sales for the third quarter of 2025 were reported at $892 million, a 1% decrease compared to the prior year.

Buyers of women's innerwear and intimates represent a key, yet challenged, customer group. In the Australian market, strong growth in the Bonds brand was offset by continued headwinds in the local intimate apparel market during Q3 2025. For the entire company, the U.S. net sales decreased by 0.6% in Q2 2025, with the slowdown in the intimates market cited as a contributing factor. The company's full-year 2025 net sales forecast from continuing operations is approximately $3.53 billion.

International consumers form a distinct segment, with specific brand strength in certain regions. For instance, in Q3 2025, constant currency net sales increased in Japan, driven by strength in the Hanes brand. Conversely, international net sales decreased 8% on a reported basis in Q3 2025, falling to $204.3 million. The Australian business, which includes the Bonds brand, saw its constant currency net sales remain consistent with the prior year in Q2 2025, though overall Australian market sales dropped in Q3 2025.

Wholesale distributors and embellishers are crucial, especially considering the definitive merger agreement entered into with Gildan in August 2025. Historically, before the Champion divestiture, the Activewear segment included branded products sold through retailers and wholesalers. The company's overall TTM (Trailing Twelve Months) revenue as of late 2025 was reported at A$5.35 Billion.

You can see a snapshot of the financial scale impacting these segments:

Metric	Value (Q3 2025 or Latest Available)	Context/Period
Net Sales (Reported)	$892 million	Third Quarter 2025
Net Sales (Reported)	$991 million	Second Quarter 2025
Net Sales (Reported)	$760 million	First Quarter 2025
FY 2025 Net Sales Forecast	Approximately $3.53 billion	Full Year 2025 Outlook
International Net Sales (Reported)	$204.3 million	Third Quarter 2025
U.S. Net Sales Change	Decreased 0.6%	Second Quarter 2025

Key brand-specific customer focus areas include:

• Hanes Brand: Gaining market share in basics and activewear, particularly during back-to-school periods.
• Bonds Brand: Seeing strong growth across all channels in Australia.
• Intimates Brands (e.g., Bali, Maidenform, Playtex): Facing persistent headwinds in the local intimate apparel market.
• International Hanes Brand: Driving constant currency net sales increases in Japan.

The company's leverage ratio, which speaks to its financial health when dealing with these customer bases, was 3.3 times net debt-to-adjusted EBITDA at the end of Q3 2025.

Hanesbrands Inc. (HBI) - Canvas Business Model: Cost Structure

You're looking at the cost side of Hanesbrands Inc. (HBI) as of late 2025, right before or just after the finalization of the Gildan acquisition. The cost structure is heavily influenced by its historical manufacturing footprint and the immediate post-merger integration planning.

High fixed costs from operating vertically integrated manufacturing were a hallmark of Hanesbrands Inc.'s prior structure. This model, which Gildan Activewear is now absorbing, involves owning and operating large-scale manufacturing facilities, primarily in Central America and the Caribbean. This ownership translates directly into significant fixed overhead, including depreciation, facility maintenance, and labor costs that don't immediately scale down with sales volume. Gildan's stated goal is to combine these assets onto its 'world-class, low-cost, vertically integrated platform' to drive efficiency, which implies a significant, ongoing fixed cost base that requires high utilization to be profitable.

Selling, General, and Administrative (SG&A) expenses are a major focus area, especially given the company's recent performance and the announced cost-saving measures. You can see the trend of reduction in the quarterly figures leading up to the merger announcement.

Here's a look at the recent SG&A spend:

Metric	Amount (Q3 2025)	Amount (Q2 2025)	Annual (2024)
SG&A Expense	$255.9 million	$254.983 million	$1.02B

The third quarter of 2025 saw SG&A expenses decrease by 8.4% to $255.9 million compared to the prior year, reflecting the benefits from cost savings initiatives and disciplined expense management. Honestly, seeing that sequential drop from the Q2 2025 figure of $254.983 million is a good sign of cost discipline taking hold.

Interest expense is another critical component, especially considering the debt load Hanesbrands carried prior to the acquisition. For the third quarter of 2025, Interest and Other Expenses were reported at $55 million, which was a decrease from the $58 million reported in the third quarter of 2024, driven by lower debt balances. The prompt mentioned an approximate run-rate of $46 million, which suggests further expected declines as debt was refinanced or managed down in anticipation of the deal closing in late 2025.

Significant raw material and procurement costs, particularly for cotton and polyester, are inherent to the business. While specific 2025 procurement contract values aren't public, the Q3 2025 results noted that lower input costs provided a benefit to Gross Margin, which helped offset an unfavorable business mix. This suggests that raw material prices were trending favorably compared to the peak inflation seen earlier in the decade.

The merger with Gildan brings a massive focus on integration and restructuring charges, though the immediate cost structure view for Hanesbrands Inc. is framed by the expected synergies. The combined entity is targeting substantial savings:

• Run-rate cost synergies targeted at a minimum of $200 million annually.
• These synergies are expected to be fully realized within three years of closing.
• The realization timeline is phased: approximately $50 million in 2026, $100 million in 2027, and $50 million in 2028.
• The Q3 2025 Adjusted Gross Profit and Adjusted Operating Profit figures explicitly exclude certain costs related to restructuring and other action-related charges.

The debt repayment associated with the merger is a major cost event; Hanesbrands repaid all obligations under its $2.25 billion credit agreement upon closing in December 2025. Finance: draft 13-week cash view by Friday.

Hanesbrands Inc. (HBI) - Canvas Business Model: Revenue Streams

The revenue streams for Hanesbrands Inc. are primarily anchored in the sale of its core apparel products through various channels, supplemented by other income sources. You're looking at a company in a major transition, so the numbers reflect a focus on core operations post-major divestiture.

The full-year Net Sales from continuing operations projected at approximately $3.53 billion for Fiscal Year 2025, which represents an increase from earlier guidance of $3.47 billion to $3.52 billion. This top-line expectation is the key benchmark for the current year's performance.

The bulk of this revenue comes from wholesale and retail sales of innerwear and basic apparel. While the precise split between wholesale and direct-to-consumer retail channels isn't explicitly broken out for the full year 2025 outlook, recent quarterly figures give you a sense of the scale of sales activity:

Reporting Period	Net Sales from Continuing Operations
FY 2025 Outlook (Full Year)	$3.53 billion
Third Quarter 2025	$892 million
Second Quarter 2025	$991 million
First Quarter 2025	US$760.1 million

Within the product categories, the innerwear segment remains central to the business. For instance, in Q4 2024, even amidst broader declines, innerwear sales decreased only approximately 1%, showing relative stability compared to the activewear segment at that time. You should track the performance of the Hanes brand specifically, as its strength was noted as a driver in certain regions in 2025.

Regarding licensing revenue from brand usage, a significant structural change impacts this stream: the sale of the global Champion business, which closed in June 2024. This means a major historical source of licensing income is now either eliminated or fundamentally restructured under the new ownership, shifting the focus to licensing for the remaining core brands.

International sales present a mixed picture, showing regional variance even within the overall strategy to grow globally. Here's what the recent international performance looked like:

• Third Quarter 2025 International net sales decreased 8% reported, or 6% on a constant currency basis compared to the prior year.
• Constant currency net sales increased in Japan, driven by strength in the Hanes brand during Q3 2025.
• Constant currency net sales were consistent with the prior year in Australia for Q2 2025.
• However, Q3 2025 saw continued headwinds in Australia, where growth in the Bonds brand was offset by the intimate apparel market.
• First Quarter 2025 international sales saw a 4 per cent uplift on a constant currency basis, with growth noted in Australia and Asia.
• First Quarter 2025 reported international sales fell 2% to US$195.5 million.

To be defintely clear, you should monitor the ongoing performance of the Bonds brand in Australia and the Hanes brand in Japan as key indicators for the international revenue stream going into early 2026. Finance: draft 13-week cash view by Friday.