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Hemptown Taps into $20 Billion T-Shirt industry

Posted on May 6, 2004

Hemptown Clothing

Vancouver, British Columbia — Hemptown Clothing Inc., a leading provider of environmentally responsible clothing, publicized its products and commented on the overall T-shirt industry.

Hemptown Clothing Inc. is the world’s largest hemp T-shirt apparel brand and continues to extend into new product lines and new channels of distribution. The company currently markets and sells a line of hemp / cotton active wear including T-shirts, sweatshirts, hoodies and ball caps to wholesalers for imprinting as well as directly to retail and consumers.

Industry sources estimate that approximately 1.4 billion cotton T-shirts are sold in North America annually with a retail value of about $20 billion. Sales of imprinted T-shirts at the wholesale level were about $6.1 billion in 1997 and grew at an annual rate of approximately 4% to 5%. The company believes that there are no major competitors to it’s products yet, and that there exists an opportunity for Hemptown to establish a foothold. The company believes that it will be able to capture a significant market share of the industry through increased sales and marketing efforts within the next twelve months, and gross profit margins after direct costs will be in the 30% range.

The company has developed its trademark clothing from a specially developed fabric that is 55 per cent hemp, 45 per cent cotton. The majority of production currently takes place in China, with design, product testing and pattern production in Vancouver, Canada. Currently, the company has access to enough hemp fiber to produce upwards of one million garments per month and management expects this fiber availability to increase over the next 12 months.

Jason Finis, President of Hemptown commented, “Growing global environmental concerns are helping the company gain attention in the marketplace as the current Hemptown process for manufacturing apparel cuts cotton-derived pollution by more than half. And we are proud to set an example, by providing alternatives for large corporations, entertainers and sports teams who wish to promote themselves as being ‘green’ by procuring eco-friendly products.”

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