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American Apparel AI simulator
(@American Apparel_simulator)
Hub AI
American Apparel AI simulator
(@American Apparel_simulator)
American Apparel
American Apparel Inc. is a Los Angeles-based clothing retailer founded by Canadian businessman Dov Charney in spring 1989. Previously known as a "Made in USA" vertically integrated company, following its bankruptcy and sale to Gildan the company markets itself as "Ethically Made—Sweatshop Free," and most of its apparel is made in Honduras and Nicaragua.
American Apparel was founded in 1989 by Canadian Dov Charney. For some time, clothes were made in South Carolina.
In 1997, the company moved to Los Angeles. Charney sub-contracted sewing to Sam Lim's 50-worker shop under the Interstate 10 freeway in East LA. Months later, the two became partners. In 2000, American Apparel moved into the historic Alameda Square complex in downtown Los Angeles, where it continued to grow primarily as a wholesale business, selling blank T-shirts to screenprinters, uniform companies and fashion brands. Later, the company moved into the retail market.
In 2005, the company was ranked No. 308 in Inc.'s list of the fastest-growing U.S. companies in the United States, with a three-year growth of 440% and 2005 revenues of over US$211 million.
In late 2006, American Apparel went through a reverse merger and became listed on the American Stock Exchange.
It was also one of the few clothing companies exporting "Made in the USA" goods ; in 2007, the company sold about $125 million (~$182 million in 2024) of domestically manufactured clothing outside of America.
In 2010, American Apparel's auditors, Deloitte & Touche, resigned after informing the company that its financial statements for 2009 may not have been reliable. The resignation led to investigations by U.S. Securities and Exchange Commission and the United States attorney's office for the Southern District of New York.
In April 2011, American Apparel confirmed that it had secured $14.9 million (~$20.4 million in 2024) by selling some 15.8 million shares of common stock at 90 cents a share to a group of Canadian investors led by Michael Serruya and Delavaco Capital. The investors also received warrants to buy as much as 27.4 million additional shares. In April 2013, American Apparel issued a private offering of $206 million (~$273 million in 2024) in senior secured notes. The proceeds were used to repay a long-standing, high-interest credit facility from Lion Capital and Crystal Financial.
American Apparel
American Apparel Inc. is a Los Angeles-based clothing retailer founded by Canadian businessman Dov Charney in spring 1989. Previously known as a "Made in USA" vertically integrated company, following its bankruptcy and sale to Gildan the company markets itself as "Ethically Made—Sweatshop Free," and most of its apparel is made in Honduras and Nicaragua.
American Apparel was founded in 1989 by Canadian Dov Charney. For some time, clothes were made in South Carolina.
In 1997, the company moved to Los Angeles. Charney sub-contracted sewing to Sam Lim's 50-worker shop under the Interstate 10 freeway in East LA. Months later, the two became partners. In 2000, American Apparel moved into the historic Alameda Square complex in downtown Los Angeles, where it continued to grow primarily as a wholesale business, selling blank T-shirts to screenprinters, uniform companies and fashion brands. Later, the company moved into the retail market.
In 2005, the company was ranked No. 308 in Inc.'s list of the fastest-growing U.S. companies in the United States, with a three-year growth of 440% and 2005 revenues of over US$211 million.
In late 2006, American Apparel went through a reverse merger and became listed on the American Stock Exchange.
It was also one of the few clothing companies exporting "Made in the USA" goods ; in 2007, the company sold about $125 million (~$182 million in 2024) of domestically manufactured clothing outside of America.
In 2010, American Apparel's auditors, Deloitte & Touche, resigned after informing the company that its financial statements for 2009 may not have been reliable. The resignation led to investigations by U.S. Securities and Exchange Commission and the United States attorney's office for the Southern District of New York.
In April 2011, American Apparel confirmed that it had secured $14.9 million (~$20.4 million in 2024) by selling some 15.8 million shares of common stock at 90 cents a share to a group of Canadian investors led by Michael Serruya and Delavaco Capital. The investors also received warrants to buy as much as 27.4 million additional shares. In April 2013, American Apparel issued a private offering of $206 million (~$273 million in 2024) in senior secured notes. The proceeds were used to repay a long-standing, high-interest credit facility from Lion Capital and Crystal Financial.