Who Owns Champion?

Champion was founded in 1919 by brothers Abe and William Feinbloom in Rochester, New York, as the Knickerbocker Knitting Company. The brothers initially produced sweatshirts and athletic uniforms for local colleges and universities. The company's early focus on durable, functional athletic wear filled a gap in a market where most sportswear was improvised from regular clothing.

In the 1920s and 1930s, Champion grew by supplying team uniforms to universities across the eastern United States. The company developed several product innovations during this period. Champion introduced the first reversible T-shirt, which allowed teams to practice with a single garment that could be flipped inside out to distinguish sides. The company also developed the modern sweatshirt silhouette, moving away from earlier heavy, uncomfortable designs.

A pivotal moment came in the 1930s when Champion developed the hooded sweatshirt, now known as the hoodie. The hoodie was originally designed for warehouse workers in upstate New York who needed warm, practical garments for cold storage facilities. The design was later adopted by athletes for training in cold weather. Champion's hoodie would become one of the most influential garments in American fashion history, though its cultural significance would not fully emerge for decades.

In the 1950s and 1960s, Champion expanded beyond team uniforms into retail sportswear. The company became a supplier to the U.S. Military Academy at West Point and the U.S. Naval Academy, producing physical training gear. Champion also developed the "Weave" logo, which appeared on college campuses throughout the country.

Sara Lee Corporation acquired Champion in 1989. Under Sara Lee's ownership, Champion expanded internationally and grew into a major sportswear brand. Sara Lee's apparel division, which included Hanes, Playtex, and Wonderbra, provided distribution scale that helped Champion enter mass retail channels. Champion became a common sight in department stores and sporting goods retailers across the United States.

In 2006, Sara Lee spun off its apparel business as HanesBrands Inc. (NYSE: HBI), and Champion became part of the newly independent company. Under HanesBrands, Champion experienced a resurgence in the 2010s driven by the athleisure trend. The brand's heritage positioning, centered on its 1919 founding and original hoodie designs, resonated with consumers seeking authentic sportswear with history. Champion's reverse weave sweatshirts, originally introduced in the 1950s, became fashion items.

Champion's annual revenue under HanesBrands peaked at approximately $2 billion in the late 2010s. The brand expanded internationally, particularly in Europe and Asia, and opened flagship retail stores in major cities. Collaborations with designers and celebrities, including a notable partnership with Supreme, elevated Champion's fashion credibility.

However, Champion's performance declined sharply starting in 2022. By May 2024, quarterly sales had declined 26% year over year globally and 35% in the U.S. market. HanesBrands attributed the decline to increased competition, shifting consumer preferences, and the end of the athleisure boom that had benefited the brand during the pandemic. HanesBrands implemented a performance plan that included $59 million in inventory write-downs and $29 million in restructuring charges related to Champion.

In September 2024, HanesBrands announced the sale of Champion to Authentic Brands Group for approximately $1.2 billion. The deal closed in October 2024 for the North America business and in early 2025 for international operations. The sale represented a significant discount from Champion's peak valuation, reflecting the brand's declining performance. HanesBrands used the proceeds to reduce debt and refocus on its innerwear business.

Under ABG ownership, Champion has been restructured around a licensing model. ABG has signed licensing agreements covering apparel, footwear, accessories, and international markets. The brand continues to be sold through department stores, sporting goods retailers, specialty stores, and direct-to-consumer channels.