Gildan ActiveWear acquired American Apparel for $88m.

When Canadian brand Gildan acquired American Apparel for a cool $88m in January of this year, it only bought American Apparel’s intellectual property, leaving its operations to shutter. That move revealed Gildan’s strategy: Keep American Apparel alive, only dial down the made-in-America part. CEO Glenn Chamandy went on to confirm this tactic with investors earlier this year, revealing that the new AA would still offer some products made on American soil but that Gildan, which specializes in making cheap basics with its global supply chain, would essentially be taking American Apparel international.