MONTREAL, Feb 23 (Reuters) - American Apparel products will continue to be manufactured in the United States, but the edgy U.S. fashion brand would also be sold at “price points relative to the competitive landscape,” the chief executive of Canada’s Gildan Activewear said on Thursday.
“We’re definitely going to manufacture product in the U.S.A. and support made-in-USA product,” CEO Glenn Chamandy told analysts. “At the same time, we think that there’s an opportunity to offer product that’s more price centric and allow us to drive the potential of the brand.”
In January, Gildan won a bankruptcy auction to acquire American Apparel, for about $88 million in cash, leaving the retailer’s made-in-the-U.S. heritage uncertain at the time.
Reporting By Allison Lampert; Editing by Chizu Nomiyama