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In 1992, Russell Athletic dealt a five-year contract to serve as the exclusive producer and marketer of athletic uniforms for most Major League Baseball (MLB) teams. The contract also stipulated that the company held the exclusive right to manufacture and market replicas of major league uniforms, T-shirts, and shorts.
Russell Brands, LLC was an American corporation that manufactured sports equipment, marketing its products under many brands and subsidiaries, such as Russell Athletic (its flagship brand) and Spalding. Formerly a publicly traded company, Russell Brands was acquired by Fruit of the Loom, a wholly owned subsidiary of Berkshire Hathaway, in 2006. [3]
These loose, collarless pullovers were the first sweatshirts. A new division of the company, focusing solely on the production of sweatshirts, became the Russell Athletic Company. The sweatshirt's potential as a portable advertising tool was discovered in the 1960s when U.S. universities began printing their names on them to exhibit school pride.
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The company purchased Russell Brands, LLC, effectively taking the former competitor private, in a deal valued at $598.3 million that was completed August 1, 2006. [ 17 ] The company announced the purchase of VF Corporation 's intimate apparel company named Vanity Fair Intimates for $350 million in cash on January 23, 2007. [ 18 ]
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