U.S. multinational Hanesbrand has sold its European underwear business DIM

U.S. multinational Hanesbrand has sold its European underwear business, including iconic French brand DIM, to U.S. private equity firm Regent LP. U.S. multinational Hanesbrand announced Thursday that it has sold its European underwear business, including the iconic French brand DIM, to U.S. private equity firm Regent LP. The sale price, which includes liabilities, was agreed […]

Published on 1/27/2022Last modified on 1/27/2022

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U.S. multinational Hanesbrand has sold its European underwear business DIM

U.S. multinational Hanesbrand has sold its European underwear business, including iconic French brand DIM, to U.S. private equity firm Regent LP.

U.S. multinational Hanesbrand announced Thursday that it has sold its European underwear business, including the iconic French brand DIM, to U.S. private equity firm Regent LP. The sale price, which includes liabilities, was agreed at a symbolic one euro for a sale effective “in the first quarter of 2022,” Hanesbrand said in a statement, which intends to refocus on the United States.

Its “European intimates” business (European underwear) includes, in addition to DIM in France, the brand Nur Die/Nur Der in Germany, and employs about 2,500 people, including 1,200 in. Hanes employs 68,000 people worldwide.

A fund with 500 companies worldwide

Regent, based in Beverly Hills, California, is owned by businessman Michael Reinstein. The fund owns 500 companies worldwide in the technology, consumer products, industrial and media industries. It owns the Escada, La Senza, Club Monaco and other brands in the clothing industry.

“Regent has the reputation of being a long-term investor who seeks to develop and invest in the companies it integrates,” said in a statement Vincent Chauvet, the mayor of Autun, France (where 1000 people work for Dim). The mayor said he hoped “that Michael Reinstein would follow in the footsteps of DIM founder, Bernard Giberstein, who was appreciated by the people of Autun and all its employees. The latter founded DIM in 1953. At the time, it was a small hosiery company making chic and inexpensive stockings, originally marketed under the brand name “Bas Dimanche”. It has become a symbol of “Made in France” and claims to be the first French underwear brand.

The company had more than a thousand employees ten years ago before undergoing several changes of ownership. In 2014, it was sold to Hanes after two years of negotiations. A restructuring plan had followed with the loss of 265 jobs.

U.S. multinational Hanesbrand has sold its European underwear business DIM