After announcing the de-merger of its denim segment earlier this year, VF Corporation has unveiled that the new independent publicly traded jeanswear brand will be named; Kontoor Brands, Inc. However, the de-merger is slated to be completed by the first half of next year.
Notably, the new jeanswear brand will retail labels such as Wrangler, Lee and Rock & Republic, along with the VF Outlet business.
In a press statement issued, the global apparel and footwear brand elucidated that the separation of its denim segment is anticipated to be finalized in the next six months, with the final approval by VF’s Board of Directors, customary regulatory approvals, and tax and legal considerations is still awaited.
It is important to add here that the company’s active and outdoor labels like Vans, Timberland and The North Face will be operated by VF Corp itself even after the split of its denim segment is completed.
“While selecting a name for the new company, it was important for us to select something that serves as an umbrella for our iconic Jeanswear brands and provides us with the opportunity to advance our portfolio in the time to come.” – Scott Baxter, CEO, Kontoor Brands
The CEO further mentioned that the selected name was inspired by the idea of a perfect fit, which portrays the heritage and history of the brands. This name creates a formidable foundation for our future growth as a global leader in the denim and apparel categories.