Fruit of the Loom

Fruit of the Loom is a United States basics and underwear maker with roots in 1851, headquartered in Bowling Green, Kentucky. It has been owned by Berkshire Hathaway since 2002 and is the parent of Russell Athletic.

What is Fruit of the Loom?

Fruit of the Loom produces underwear, T-shirts, hoodies, sweatpants and other casual and sportswear. It also supplies printable T-shirts and fleece for the activewear market. The business began in 1851 as the B.B. and R. Knight Corporation in Rhode Island, founded by Robert Knight and his brother Benjamin Knight.

History

The Fruit of the Loom brand name was introduced in 1856. The first Kentucky plant opened in Frankfort in 1932. William F. Farley bought the company in 1985, and it filed for Chapter 11 bankruptcy in 1999.

Ownership

Berkshire Hathaway bought the company out of bankruptcy in 2002 for about US$835 million and has owned it since. In 2006 Fruit of the Loom acquired Russell for US$598.3 million, bringing Russell Athletic and Spalding into the group. It also bought Vanity Fair Intimates from VF Corporation in 2007 for US$350 million. Melissa Burgess Taylor became chairman and chief executive in 2016; her current status was not verified.

Business model and distribution

The company is a vertically oriented manufacturer, and production has moved abroad over time, for example from Jamestown, Kentucky to Honduras in 2014. Sales channels are not described in detail in the sources reviewed.

Why it matters

Fruit of the Loom is among the best-known American basics brands and a long-standing part of the Berkshire Hathaway portfolio.

Frequently asked questions

Who owns Fruit of the Loom?

Fruit of the Loom has been wholly owned by Berkshire Hathaway since 2002, when it was bought out of bankruptcy for about US$835 million.

Where is Fruit of the Loom from?

Fruit of the Loom is from the United States. It began in Rhode Island in 1851 and is now headquartered in Bowling Green, Kentucky.

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