If home is where you hang your hat, Kangol is struggling to afford its pricey new U.S. digs.
When the famous hat brand worn by celebrities like Samuel L. Jackson, Brad Pitt and Gwen Stefani moved into a Pennsylvania factory last year from China, executives with the Bollman Hat Co. billed it as an effort to create U.S. manufacturing jobs.
But as labor costs went up, profits went down. Way down. The 149-year-old company behind Kangol says it's losing money on every kangaroo-logo cap knitted at its factory in Adamstown, 60 miles west of Philadelphia.