Industry News
Gildan reports record third quarter results G
ildan has announced record third quarter sales of $850 million, which is up 6% on the same period in 2021.
Glenn J. Chamandy, Gildan’s president and CEO, said: “The strength of our activewear business, driven by North American imprintables sales, together with the benefits from our vertically-integrated manufacturing model, allowed us to deliver another strong quarter. “These results are a testament to the progress we are making under the Gildan
Sustainable Growth strategy, which we remain fully focused on as we continue to drive to deliver on our three-year targets.” Activewear sales consisted of $742 million, up 13% on last year. This was due to higher net selling prices, partly offset by lower sales volumes, as increased unit sales to North American distributors were more than offset by lower unit sales of activewear stemming from demand weaknesses in retail and international markets. Net sales for the nine months ended October 2, were $2,520 million, up 18% over the same period last year, reflecting an
Geiger acquires Brandam as part of strategic growth plan
G
eiger has acquired Brandam, a Hertfordshire-based promotional merchandise
provider.
Geiger will now take care of Brandam’s extensive client base and continue to support its branded merchandise needs as part of Geiger’s strategic plan for local and global expansion.
Brandam, owned by Paul and Gail Copping, has operated in the promotional gifts arena for 20 years.
Mr Copping said: “We are delighted to place Brandam in the trusted and experienced hands of Geiger. We are confident that Geiger will continue to offer
Vicky Kinasz pictured with Paul and Gail Copping of Brandam
our valued clients the highest standards of service and the innovative merchandise choices they are accustomed to.”
New season colours and styles unveiled at Target Transfers’ HQ
O
n Wednesday, October 19 transfer printers were invited to Target Transfers’ HQ in Braintree to see an exclusive preview of new season styles and colours for 2023.
Target Transfers has partnered with Bella Canvas to help transfer printers gain an advantage in the market and get ahead of the competition.
At the Colour Launch event San Ferdinand, Bella Canvas’ UK and European sales and marketing director, guided attendees through what styles and colours were going to be popular in the coming 12 months. These included soft blues and lavenders, along with earth tones. Drop shoulders and the oversized look is also going to be key. Bella Canvas works with an analyst in the
| 4 | December 2022
US to predict upcoming trends for the next three to five years.
Also at the event was staff from Ralawise and Beechfield Brands’ product decoration specialist Chris Howarth to answer any questions and to provide useful advice to printers.
www.printwearandpromotion.co.uk
Transfer printers taking a look at the new season styles
increase of 25% in activewear sales. Gildan believes the actions it has taken continues to position the business well to navigate through any near-term challenges related to the current environment. On the cost side, although the impact of higher raw material costs will become more pronounced in the fourth quarter, Gildan remains focused on delivering on its operating profitability target range of 18% to 20%. More importantly, Gildan has confidence in its ability to deliver on its three-year growth targets outlined in February of this year.
GoCustom Clothing acquires Imprinted to grow print on-demand offerings
G
oCustom Clothing has acquired the Imprinted brand and associated assets from 5 Digital to further strengthen its print on-demand services. Both GoCustom and Imprinted have achieved growth in the print on-demand market over the last year. GoCustom has over 25 years of printing experience, Imprinted’s clients will be able to benefit from this expertise. With products printed only when sold to end users, this is among the most sustainable ways for businesses to sell their creations. Angus Mitchell, managing director, GoCustom Clothing, said: “We have seen significant growth of print on-demand clients for several months, bringing Imprinted under the GoCustom brand allows us to scale up our operation to meet the increasing demand.
“Combining our existing solution with the products and services from Imprinted will enhance the offer available to new and existing clients.”
The Imprinted brand will be
consolidated into the GoCustom Clothing Dropshipping Print-on-demand business with immediate effect.
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