Authentic Brands Group Completes Acquisition of Lee: Denim Brand Founded in 1889 Changes Hands With About $1.5 Billion in Annual Retail Sales
New York-based Authentic Brands Group (Authentic) announced on November 3 that it has completed its acquisition of the intellectual property of the Lee denim brand from Kontoor Brands, Inc. (NYSE: KTB), bringing the brand founded in 1889 into Authentic's portfolio.
Authentic signed a definitive agreement to acquire the Lee intellectual property in May and has since signed a series of operating partners to grow the brand through its licensing model: One Jeanswear Group for the U.S. and Canada, Experience Group for Europe, HiMaxx for mainland China, Hong Kong SAR and Macao SAR, and Union Group for Mexico. Authentic said additional licensees are expected to join and help expand Lee into adjacent categories, including activewear and workwear, as well as lifestyle offerings built on the brand's denim heritage.
Lee is one of the most recognized names in global denim, generating approximately $1.5 billion in annual retail-equivalent sales across 73 countries, with nearly 40 percent coming from outside the U.S. and Canada.
"We are thrilled to welcome Lee to the Authentic family," said Jamie Salter, Founder and Executive Chairman of Authentic. "Lee has the heritage, recognition and consumer loyalty we look for in a brand. By connecting Lee to Authentic's global platform and the right partners in key markets, we see a significant opportunity to expand its reach through content, experiences and new product categories."
Authentic is a global lifestyle and entertainment platform that owns more than 50 brands and, through a network of more than 1,700 licensees and strategic partners across 150 countries, drives more than $38 billion in annual systemwide sales, with a roster that includes Reebok, Champion, GUESS, Brooks Brothers, Nautica and Dockers.
(Source: Authentic Brands Group)
Source: Authentic Brands Group
Published by GSM · USA (original Chinese edition)
Photo: Lee 牛仔服饰门店橱窗（Zorro2212 摄，CC BY-SA 4.0，经 Wikimedia Commons）
