Authentic Brands Group Completes Acquisition of Lee Intellectual Property from Kontoor Brands
Authentic Brands Group (Authentic) has finalized its acquisition of the Lee intellectual property from Kontoor Brands, Inc. (NYSE: KTB). Following a definitive agreement signed in May, Authentic aims to leverage its global licensing model and extensive network of operating partners to expand Lee's reach into new categories such as activewear, workwear, and lifestyle products. To support the brand's growth, Authentic has already secured several regional operating partners, including One Jeanswear Group for North America, Experience Group for Europe, HiMaxx for China, and Union Group for Mexico. Lee remains a significant global asset, generating approximately $1.5 billion in annual retail-equivalent sales across 73 countries.