Benzinga | Oct 7, 2021 04:17PM EDT

HanesBrands Enters Long-Term Licensing Deal With University Of Texas At Austin

* Hanesbrands Inc (NYSE: HBI) entered a partnership with The University of Texas at Austin as one of its primary apparel partners. The financial terms of the deal were not disclosed.

* The 10-year strategic agreement will lead to the development of a consumer-driven collection of fan apparel.

* The agreement awards exclusive rights in the mass, campus, and local channels through 2032.

* Texas joins the University of Georgia, the University of North Carolina, the University of South Carolina, The Ohio State University, and the University of Cincinnati as primary apparel partners with Hanesbrands.

* Price Action: HBI shares closed higher by 4.57% at $17.16 on Thursday.