Industry News
40th anniversary year for Gildan ends with record revenue of $3,271m
G
ildan’s 40th anniversary year has ended on a high note after the company achieved a record revenue of $3,271 million.
The apparel manufacturer also recorded fourth quarter net sales of $822m, which was an increase of 5% on the fourth quarter in 2023. Of this, Gildan generated gross profit of $253m, or 30.8% of sales, versus $237m, or 30.2% in the prior year. This was attributed to lower raw materials costs.
Also during the fourth quarter, Gildan saw its international sales increase by 20%. Certain international markets were able to benefit from Gildan’s improved ability to service these areas through its global manufacturing footprint, meaning distributors were able to continue replenishing their inventory. International sales for the full year were up 12% on 2023 to $252m, which reflected demand stabilisation, as well as distributor inventory
replenishment from previously suboptimal levels.
Glenn J. Chamandy, Gildan’s president and CEO, said: “This past year has been a testament to the collective strength and dedication of our global team, the loyalty of our customers, and the ongoing support and trust of our shareholders. Reflecting on our full-year performance, it’s clear that our success has been driven by our unwavering focus on executing our GSG strategy. By reinforcing our core competencies as a low-cost, large-scale, vertically integrated sustainable manufacturer, we continued to enhance our competitive advantage, and we are well positioned for continued growth in the years ahead.” For 2025 Gildan expects its revenue growth to be up mid-single digits, which will be driven by recently introduced innovation, market share gains, the favourable impact from new programme launches, as well as some improvement in markets that remained soft in 2024.
IPIA founds new structure to drive industry growth
T
he Independent Print Industries Association (IPIA) has welcomed fresh expert talent to its council. As part of the IPIA’s two-year rotational leadership structure, Charles Rogers (Portland Media) has moved to president, Alasdair Browne (Abbot Print) has stepped up to chair, and Mark Stephenson (Fujifilm Europe) has become vice chair. These strategic appointments ensure continuity, while introducing fresh perspectives to the IPIA’s vision and operations.
Mr Browne said: “I see the future of the IPIA as a dynamic, collaborative hub – where dedicated professionals in print work together with passion and purpose. As chair, I am privileged to have an opportunity to influence the IPIA’s future development path – a direction that has
| 10 | April 2025
Leadership changes at Gildan As part of a multi-year succession planning process, Gildan has made several changes to its leadership. Currently president, sales, marketing and distribution, Chuck Ward has been appointed to the newly created role of executive vice president and chief operating officer.
And after almost 10 years in the EVP, chief financial and administrative officer role, Rhodri
Chuck Ward is
Gildan’s executive vice president and COO
J. Harries has informed the board of his intention to retire on January 1, 2026. Mr Harries will be succeeded in the role by Luca Barile, currently CFO, sales, marketing and distribution effective from March 1. To facilitate a smooth transition period over the next 10 months, Mr Harries will retain his chief administrator officer role until his retirement.
Ocean teal joins Fruit’s colour palette
Alasdair Browne, of Abbot Print, is the IPIA’s new chair
been so well established by my dynamic predecessors. But best of all, I owe the IPIA for this opportunity to collaborate on a regular basis with other passionate print professionals.”
The IPIA has also announced the election of three new council members, reinforcing the association’s reputation as an energetic and progressive force dedicated to fostering collaboration and growth within the print industry.
Sarah Lees, head of marketing and communications at Compass Business Finance, Pete Horwood, commercial director at Imprint MIS, and Mike Hughes, managing director at Latcham, all join the council.
Ocean teal is available this spring
T
he rich green shade of ocean teal has enhanced the colour palette of Fruit of the Loom’s Iconic Premium Ts.
The shade combines the depths of the ocean with a touch of freshness and sits somewhere between blue and green. With the
introduction of this shade, Fruit of the Loom has demonstrated it remains on-trend, for transformative teal has been chosen by WGSN and Coloro as their colour of 2026.
The new colour is available this spring.
www.printwearandpromotion.co.uk
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