VF Corporation announced that Kontoor Brands, Inc. will be the name of the independent, publicly traded company that will result from its previously announced separation of VF’s Jeanswear organization.
The separation is expected to be completed in the first half of 2019, subject to final approval by VF’s Board of Directors, customary regulatory approvals, and tax and legal considerations. The new company will comprise the Wrangler, Lee and Rock & Republic brands, and the VF Outlet business.
“This is an exciting next step in our work to establish our Jeanswear organization as an independent, publicly traded company. Kontoor Brands – a creative variation of the word ‘contour’ – is a compelling company name that will preserve each brand’s unique identity while also providing the opportunity to evolve the company in the years ahead,” said Steve Rendle, VF’s chairman, president and CEO.
More information about Kontoor Brands, including the board of directors, executive leadership team, stock symbol and strategic vision will be shared before the completion of the separation.
“In choosing 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 future,” said Scott Baxter, named CEO of Kontoor Brands. “The selected name was inspired by the idea of a perfect fit, which speaks to the rich legacy and storied history of our brands. This name establishes a strong foundation for our future growth as a global leader in the denim and apparel categories, and I’m excited about the opportunities that lie ahead for Kontoor Brands as an independent, publicly traded company.”
For more information regarding the proposed separation, please visit TwoGlobalLeaders.com.
VF Corp’s brands include Vans, The North Face, Timberland, Wrangler and Lee.