Lee acquired by Authentic Brands Group

Authentic Brands Group completed the acquisition of the Lee intellectual property from Kontoor Brands on 2 November 2026, in a transaction valued at up to $500M–1.5bn, agreed in May. Kontoor retained Wrangler and Helly Hansen, and the Lee operations remained in Greensboro, North Carolina. Established in 1889, Lee is a denim and casual clothing brand known for jeans, jackets and workwear-derived garments. Its products generate approximately [members only] in retail-equivalent sales across 73 countries, close to 40% of that outside the United States and Canada. What changed hands is the trademark rather than the business. Authentic acquires brand names and licenses them to companies that design, manufacture and distribute the products in each territory, collecting royalties and employing no factories or shops of its own. The licensee carries the inventory, the manufacturing commitments and the retail risk, while the brand owner receives a percentage of sales. Four operating partners were appointed before completion: One Jeanswear Group for the United States and Canada, Experience Group for Europe, HiMaxx for mainland China, Hong Kong and Macao, and Union Group for Mexico. Further licensees were expected to extend the name into activewear, workwear and other categories. Lee had belonged to VF Corporation for nearly fifty years before being separated in 2019 with Wrangler into Kontoor Brands, which has since acquired Helly Hansen and concentrated its portfolio on fewer brands. Morgan Stanley acted as exclusive financial adviser to Kontoor Brands, with Foley & Lardner as legal counsel.

By taking control of Lee, Authentic Brands Group continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Guess in 2026.