What's Happening?
HanesBrands Inc., a leading global manufacturer of basic apparel, is renowned for its iconic brands such as Hanes, Bonds, Maidenform, and Bali. The company operates a vertically integrated business model, controlling over 70% of its supply chain, which allows it to maintain high standards in workplace quality and ethical business practices. HanesBrands employs approximately 48,000 associates across 30 countries and has been recognized for its sustainability efforts, earning high scores in the 2023 CDP Climate Change and Water Security Reports. The company has consistently received the U.S. Environmental Protection Agency Energy Star Sustained Excellence Award for 14 years. HanesBrands focuses on sustainability through initiatives aligned with the United Nations’ Sustainable Development Goals, emphasizing People, Planet, and Product.
Why It's Important?
HanesBrands' commitment to sustainability and ethical practices positions it as a leader in the apparel industry, influencing other companies to adopt similar standards. By owning the majority of its supply chain, HanesBrands can effectively manage costs, scale, and flexibility, which enhances its competitive advantage. The company's focus on sustainability not only benefits the environment but also appeals to consumers who prioritize eco-friendly products. This approach may lead to increased brand loyalty and market share, as consumers increasingly demand transparency and responsibility from corporations.
