Not anyone wins awards for making underwear, except HanesBrands, who is 11 years old to be the largest exporter of the Salvadoran economy, according to the 2024 Industrial Exporters Ranking prepared by the Salvadoran Association of Industrialists (ASI).
HanesBrands last night received the award as the largest exporter in the industrial sector, as well as El Salvador’s largest employer and the largest exporter to Central America.
The clothing giant recorded sales of more than $637.7 million in 2023, representing 20 percent of the total exports of the textile and clothing industry, and 9.8 percent of the total exported by El Salvador at the end of 2023.
HanesBrands failed to escape the inflationary crisis, exacerbated two years ago by the Russian invasion in Ukraine and remained in 2023, so its sales were 11 per cent lower than the$717 million reported in 2022.
This led to the forced closure of one of itsfive factories in the Salvadoran square. Even so, the operation represents a determining link in the supply chain, said Francisco Barahona, manager of the Textiles El Salvador plant and legal representative of the company.
“From our manufacturing and sewing plants, garments that can be dressed to a person from head to toe are exported, mostly to the HanesBrands natural market, which is the United States,” he added.
Production of socks, his strong arm
According to the company, its El Salvador Socks plant, located in San Juan Opico, is one of the largest producers of the global operation and concentrates 65% of the manufacture of socks throughout its supply chain.
The firm, based in North Carolina (EE. He stressed that production in El Salvador went ahead despite the international adverse environment. In the midst of the crisis, it launched a process of commercial restructuring to focus its portfolio on the Hanes and Maidenform brands, thus reducing the costs of inputs as it moderates inflation and maritime freight.
HanesBrand has 30 years of operations in El Salvador and accumulates an investment of $700 million, destined for the construction of plants, the purchase of equipment and machinery.
The Central Reserve Bank (BCR) reports that maquila exports closed in 2023 witha fall of 23.1 %, after surpassing $980.9 million.
This article has been translated after first appearing in Diario El Mundo