
Russell Athletic is owned by Fruit of the Loom, a wholly-owned subsidiary of Berkshire Hathaway (NYSE: BRK.A, BRK.B). Founded in 1902 by Benjamin Russell in Alexander City, Alabama, the brand is credited with inventing the sweatshirt. Berkshire Hathaway acquired the brand through Fruit of the Loom's 2006 purchase of Russell Corporation for approximately $600 million.
Parent Company
Acquired
2006
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Russell Athletic | Berkshire Hathaway | Subsidiary |
Benjamin Russell founded the company in Alexander City, Alabama in 1902 as a knitting mill. His son Ben Russell Jr. is credited with creating the first sweatshirt in the 1920s, asking his father for a cooler alternative to wool football jerseys; the resulting all-cotton practice jersey became the template for the modern sweatshirt.
Russell grew into a major sportswear manufacturer, producing uniforms for professional and college teams and the iconic R-logo basics sold through mass retail. The company went through several ownership eras: it was acquired by fruit giant Fresh Del Monte's predecessors and later taken private, eventually becoming Russell Corporation.
In 2006, Fruit of the Loom, backed by Berkshire Hathaway, acquired Russell Corporation for roughly $600 million, merging Russell Athletic into its basics portfolio. Production consolidated into Fruit of the Loom's manufacturing network, and the Alexander City mills gradually wound down.
What does Berkshire Hathaway own?
Berkshire Hathaway owns a diverse portfolio of over 100 wholly-owned subsidiaries and significant equity investments. Key holdings include GEICO (auto insurance), BNSF Railway (freight transportation), Berkshire Hathaway Energy (utilities), Precision Castparts (aerospace components), Duracell (batteries), See's Candies (confectionery), Dairy Queen (fast food), and NetJets (private aviation). The company also holds substantial investments in publicly traded companies including Apple, Bank of America, and American Express.
Is Berkshire Hathaway publicly traded?
Yes. Berkshire Hathaway is publicly traded on the New York Stock Exchange under two ticker symbols: BRK.A (Class A shares) and BRK.B (Class B shares). Class A shares have significantly higher voting rights and are priced much higher than Class B shares. Class B shares were created in 1996 to make Berkshire stock more accessible to retail investors. The company has been publicly traded since 1988 and has never paid a dividend.
Who founded Berkshire Hathaway?
The original Berkshire Hathaway textile company was founded in 1839 by Oliver Chace in Valley Falls, Rhode Island. The modern Berkshire Hathaway was shaped by Warren Buffett, who began acquiring shares in 1962 and gained control in 1965, transforming the struggling textile manufacturer into a diversified holding company. The original textile operations were closed in 1985.
Where is Berkshire Hathaway headquartered?
Berkshire Hathaway is headquartered in Omaha, Nebraska, USA. The company has maintained its headquarters in Omaha since Warren Buffett took control, reflecting its commitment to a conservative, Midwestern approach to business despite its global scale. The corporate headquarters employs only approximately 25 people, reflecting the extreme decentralization of the organization.
How many companies does Berkshire Hathaway own?
Berkshire Hathaway owns over 100 wholly-owned subsidiaries across insurance, railroads, utilities, manufacturing, consumer products, and services. The exact number fluctuates as Berkshire makes new acquisitions and occasionally sells businesses. The company also holds significant minority stakes in publicly traded companies.
Who owns Berkshire Hathaway?
Berkshire Hathaway is owned by its shareholders, with no single controlling shareholder. Major institutional investors including Vanguard Group, BlackRock, and State Street hold significant stakes. Warren Buffett remains the largest individual shareholder and serves as Executive Chairman, while Greg Abel serves as CEO. The company has a widely dispersed shareholder base typical of large public corporations.
What is Berkshire Hathaway's revenue?
For full-year 2025, Berkshire Hathaway reported operating earnings of $44.49 billion, down from $47.44 billion in 2024. The decline was primarily driven by weaker insurance underwriting results. The company maintains one of the strongest balance sheets in corporate America with cash and equivalents exceeding $150 billion and insurance float exceeding $170 billion.
Who is the CEO of Berkshire Hathaway?
Greg Abel serves as CEO of Berkshire Hathaway, having succeeded Warren Buffett on January 1, 2026. Abel had long been considered Buffett's successor and previously led Berkshire's non-insurance operations. Warren Buffett remains Executive Chairman and continues to be involved in major capital allocation decisions.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Authentic Brands Group | USA | 1919 | Mass market | Global | Unisex | |
| Catalyst Brands | United States | 1818 | Premium | United states | Mens | |
| Authentic Brands Group | USA | 1938 | Mass market | United states | All Genders | |
| New Balance | USA | 1906 | Premium | Global | All Genders | |
| Authentic Brands Group | USA | 1958 | Mid market | Global | Unisex | |
| Authentic Brands Group | USA | 1881 | Mass market | Global | Mens |
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Market Positioning: Russell Athletic competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Champion is privately owned, unlike Russell Athletic which is under a publicly traded parent company.
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Claire's is privately owned, unlike Russell Athletic which is under a publicly traded parent company.
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Forever 21 is privately owned, unlike Russell Athletic which is under a publicly traded parent company.
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Izod is privately owned, unlike Russell Athletic which is under a publicly traded parent company.
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