Merger For American Apparel

Sally Grover - All Headline News Contributor
Los Angeles, CA (AHN) - Management may be changing but the ethics behind American Apparel is staying the same.
Endeavor Acquisition Corp has finalized a $244 million deal to buy the previously private company. And while new owners will be coming in to shake things up, insiders believe the foundations that have made the business successful will be staying.
Company founder, Dov Charney, who began the T-shirt and sweats label seven years ago, will continue to stay on board.
Under Charney's leadership, employees were some of the best looked after in the industry.
Jennifer Black, an independent equity analyst specializing in retail and apparel says, "I'm assuming that the reason he's had this philosophy is to have loyal employees. If he can prove to investors that he really does get that out of employees and that it does go right to the bottom line, then I think it's going to work."
American Apparel employs are given medical benefits, including in-house massages, and pay of around $12.50 per hour, despite their heritage.
Charney says a motivation behind the merge is expansion. He said, "We wanted access to the capital to further expand our vision and add more professionalism, while still being the contrarian company we are."
The company, which prides itself on being sweatshop free, is flying the American flag in 143 stores in 11 different countries.

Hey everyone!!
American Apparel is such a popular company.I thought this article would be interesting to everyone. American Apparel is the largest garment manufacturer in the United States.I was just so amazed to find out Dov Charney sold his company,but he will continue to be part of it. Even though American Apparel is under new management, I am glad to know that the company will stay with its original image....that was the smart way to go.

Stephanie Carcamo

http://www.allheadlinenews.com/articles/7005923775