Investment and advisory firm Hilco Consumer-Retail (HCR) has acquired the operations for Hanes Outlet and Maidenform stores. Financial details of the deal, which was completed on July 27, were not disclosed.
HCR now plans to amp up the brand’s brick-and-mortar performance with the deployment of its RevUp store management platform and promised that new store experiences will be rolling out in the coming weeks. Additionally, while HCR intends to retain as much of the Hanes Outlet and Maidenform store teams as possible, the company is introducing new leadership at the corporate and operational level.
HCR’s RevUp program, which combines Restore for Retail’s virtual store management platform with 30+ years of retail operational expertise, puts store teams and customers at the forefront of everything that happens in stores. By doing so, HCR hopes to increase inventory turns, boost sell-through, drive profitability, reduce costs and improve team morale as well as the customer experience.
“This transaction underscores Hilco Consumer-Retail’s commitment to forge long-term partnerships built on trust, transparency, strategic alignment and operational excellence,” said Ian Fredericks, President and CEO of HCR in a statement. “We are thrilled that Hanes selected us to continue their retail brick-and-mortar operations, and we are excited to hit the ground running with the dedicated store teams to improve our customers’ experience.”
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HanesBrands, parent company of the Hanes and Maidenform brands, also sold the IP and certain operating assets of the Champion brand to Authentic Brands Group last month.
