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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 j2PDlETBR/Rm+PM43lo9FA==

<SEC-DOCUMENT>0001061894-04-000014.txt : 20040514
<SEC-HEADER>0001061894-04-000014.hdr.sgml : 20040514
<ACCEPTANCE-DATETIME>20040514103610
ACCESSION NUMBER:		0001061894-04-000014
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040514
FILED AS OF DATE:		20040514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GILDAN ACTIVEWEAR INC
		CENTRAL INDEX KEY:			0001061894
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1003

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14830
		FILM NUMBER:		04805032

	BUSINESS ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		VILLE SAINT LAURENT
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			00000
		BUSINESS PHONE:		5147352023

	MAIL ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		ST LAURENT QUE
		CITY:			CANADA
		STATE:			A8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6-k.htm
<DESCRIPTION>MONETIZATION PRESS RELEASE
<TEXT>
<title>Q2 2004 Results</title><p align="center">&nbsp;</p>
<p align="left">&nbsp;</p>
<p>&nbsp;</p>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><font size="4">SECURITIES AND EXCHANGE COMMISSION<br>
  WASHINGTON, DC 20549</font></B></FONT></FONT></P>
<p><font size="4">
  <!-- MARKER FORMAT-SHEET="Center Head Bold" -->
</font></p>
<p>&nbsp; </p>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><font size="4">FORM 6-K</font></B></FONT></FONT></P>
<p><font size="4">
  <!-- MARKER FORMAT-SHEET="Center Head Bold" -->
</font></p>
<p>&nbsp; </p>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="4"><B>REPORT OF FOREIGN PRIVATE ISSUER<br>
  </B></FONT></FONT>Pursuant to Rule 13a-16 or 15d-16 under <br>
  the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER"><br>
</P>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
    <TR>
      <TD width="50%"><FONT face="Times New Roman, Times, serif" size=3>For the month of: <STRONG>May, 2004</STRONG></FONT></TD>
      <TD align=right width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>Commission File Number:<STRONG> 1-14830</STRONG></FONT></TD>
    </TR>
    <TR>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><STRONG>GILDAN ACTIVEWEAR INC.</STRONG></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><FONT face="Times New Roman, Times, serif"
      size=2><EM>(Translation of Registrant's name into English)</EM></FONT></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
      <TD width="50%"><p>&nbsp;</p>
          <p>&nbsp;</p></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center">
          <P ALIGN="CENTER"><strong><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">725 Mont&eacute;e de Liesse<br>
            Ville
            Saint-Laurent, Quebec <br>
          </FONT></FONT><font size="2">Canada H4T 1P5</font></strong></P>
      </div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><FONT face="Times New Roman, Times, serif"
      size=2><EM>(Address of principal executive offices)</EM></FONT></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
    </TR>
  </TABLE>
</DIV>
<p>&nbsp;</p>
<p><FONT face="Times New Roman, Times, serif" size=3>Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F. </FONT></p>
<p>&nbsp; </p>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 border=0>
    <TR align=middle>
      <TD vAlign=top width=200>Form 20-F <U>&nbsp;&nbsp; &nbsp;&nbsp;</U>
      <TD vAlign=top width=200>Form 40-F <U>&nbsp;&nbsp;&nbsp;<strong>X</strong>&nbsp;&nbsp;</U></TD>
    </TR>
  </TABLE>
  <p align="left">&nbsp;</p>
</DIV>
<P>
<P>
<P><FONT face="Times New Roman, Times, serif" size=3>Indicate by check mark whether the Registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>
<P>
<P>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 border=0>
    <TR align=middle>
      <TD vAlign=top width=150>Yes <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
      <TD vAlign=top width=150>No <U>&nbsp;&nbsp;<strong>X</strong>&nbsp;&nbsp;</U></TD>
    </TR>
  </TABLE>
</DIV>
<P>
<P>
<P><FONT face="Times New Roman, Times, serif" size=3>If</FONT><FONT color=#0000ff><FONT
color=#0000ff><FONT face=serif
size=2>&nbsp;</FONT></FONT></FONT><FONT face="Times New Roman, Times, serif" size=3> &#8220;Yes&#8221; is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-_<strong>N/A</strong>_.</FONT>
<P>
<P>
<HR color=gray noShade SIZE=3>
<div align="center"> <font size="3" face="Times New Roman, Times, serif">
<!-- MARKER FORMAT-SHEET="Indented Head Underline" -->
</font> </div>
<P ALIGN="right"><font size="3" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;<U><FONT SIZE="2">FOR IMMEDIATE RELEASE </font></U></font></P>
<font size="3" face="Times New Roman, Times, serif">
<!-- MARKER FORMAT-SHEET="Center Head Bold/Italic" -->
</font>
<P ALIGN="CENTER"><FONT size="3" FACE="Times New Roman, Times, serif"><B><I>PRESS RELEASE</I></B></FONT></P>
<P ALIGN="CENTER"><FONT size="3" FACE="Times New Roman, Times, serif"><B><I><br>
  </I>MONETIZATION TRANSACTIONS WITH RESPECT TO</B></FONT> <font size="3" face="Times New Roman, Times, serif">
      <!-- MARKER FORMAT-SHEET="Center Head Bold" -->
      <br>
      <B>CLASS A SUBORDINATE VOTING SHARES<br>
OF GILDAN ACTIVEWEAR INC.</B></font> </P>
<P ALIGN="CENTER"><font size="3" face="Times New Roman, Times, serif">
    <!-- MARKER FORMAT-SHEET="Para Flush" -->
    </font></P>
<P ALIGN="justify"><FONT size="3" FACE="Times New Roman, Times, serif">Montreal, May 14, 2004 &#150; Messrs. H. Greg Chamandy and Edwin B. Tisch, through their respective holding companies (collectively the &#147;Shareholders&#148;), announced today that they have agreed to enter into transactions with a Canadian chartered bank involving the monetization of 2,749,200 and 550,000 Class&nbsp;A Subordinate Voting Shares (the &#147;Class&nbsp;A Shares&#148;) of Gildan Activewear Inc. (&#147;Gildan&#148;), respectively, representing a total of 11.1% of the outstanding Class A Shares of Gildan.</FONT> </P>
<div align="justify"><font size="3" face="Times New Roman, Times, serif">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
</font> </div>
<P ALIGN="justify"><FONT size="3" FACE="Times New Roman, Times, serif">These transactions were entered into for personal estate planning and portfolio diversification purposes.</FONT> </P>
<font size="3" face="Times New Roman, Times, serif">
<!-- MARKER FORMAT-SHEET="Para Flush" -->
</font>
<P ALIGN="LEFT"><FONT size="3" FACE="Times New Roman, Times, serif">For information, please contact:</FONT> </P>
<p>&nbsp;</p>
<p><font size="3" face="Times New Roman, Times, serif">
  <!-- MARKER FORMAT-SHEET="Left Head Bold" -->
</font></p>
<P ALIGN="LEFT"><FONT SIZE="3" face="Times New Roman, Times, serif">H. Greg Chamandy<br>
  Edwin B. Tisch<br>
  (514) 735-2023</FONT></P>
<p>&nbsp;</p>
<div align="justify">
  <HR color=gray noShade SIZE=3>
</div>
<p>&nbsp;</p>
<P>
<P align=center><FONT face="Times New Roman, Times, serif"
size=3><STRONG>SIGNATURE</STRONG></FONT>
<P align=left>
<P align="left"><FONT face="Times New Roman, Times, serif"
size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securitiecs Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT>
<P>
<P>
<P>
<DIV align=right>
  <TABLE cellSpacing=0 cellPadding=0 width="50%" border=0>
    <TR>
      <TD><STRONG><FONT face="Times New Roman, Times, serif" size=3>GILDAN ACTIVEWEAR INC. </FONT></STRONG></TD>
    </TR>
    <TR>
      <TD>&nbsp;</TD>
    </TR>
    <TR>
      <TD>&nbsp;</TD>
    </TR>
    <TR>
      <TD>&nbsp;</TD>
    </TR>
    <TR>
      <TD>(Signed) St&eacute;phane Lemay
          <HR noShade SIZE=1>
    </TR>
    <TR>
      <TD><FONT face="Times New Roman, Times, serif" size=3>St&eacute;phane Lemay </FONT></TD>
    </TR>
    <TR>
      <TD><FONT face="Times New Roman, Times, serif" size=3>Vice-President, Public and Legal Affairs </FONT></TD>
    </TR>
    <TR>
      <TD>&nbsp;</TD>
    </TR>
  </TABLE>
</DIV>
<P align="left">
<div align="left">
  <TABLE width="50%" border=0 cellPadding=0 cellSpacing=0>
    <TR>
      <TD><strong>Date</strong> May 14, 2004</TD>
    </TR>
    <TR>
      <TD>&nbsp;</TD>
    </TR>
  </TABLE>
</div>
<P>
<p align="left">&nbsp;</p>
<p align="left"><FONT color=#0000ff></FONT></p>
<p></p>
<p>&nbsp;</p>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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