Kontoor Brands
Kontoor Brands is a global lifestyle apparel company headquartered in Greensboro, North Carolina, known for its Wrangler®, Lee®, and Rock & Republic® brands, operating in over 65 countries with more than 14,000 employees.
Kontoor Brands Overview
Kontoor Brands is a global lifestyle apparel company based in Greensboro, North Carolina. It manages a diverse portfolio that includes well-known brands such as Wrangler®, Lee®, and Rock & Republic®. With a global presence in over 65 countries, the company has corporate offices in the United States, Europe, and Asia. Its workforce of more than 14,000 employees helps drive its mission to design, manufacture, and distribute high-quality clothing. In 2023, Kontoor Brands reported $2.6 billion in revenue.
Global Operations and Manufacturing
Kontoor Brands operates a comprehensive global supply chain, producing 141 million units of apparel and accessories in 2023. The company owns and operates nine manufacturing facilities and sources about 38% of its production in the Americas. With 79% of its sales generated within the United States and 21% internationally, Kontoor Brands has a significant footprint in the global apparel industry.
Sustainability Initiatives
Kontoor Brands is committed to sustainability and has implemented several programs to meet its environmental goals. The company's sustainability strategy includes aims to power 100% of its owned and operated facilities with renewable energy by 2025. Additionally, Kontoor has set science-based targets to reduce absolute scope 1, 2, and 3 GHG emissions by 46.2% by 2030 from a 2019 base year. The Indigood® Program focuses on reducing freshwater consumption in denim mills, while the company achieved zero-waste at all its owned distribution centers in North America.
Financial Performance 2024
For the first quarter of 2024, Kontoor Brands reported $631 million in revenue, which reflects a 5% decrease compared to the previous year. The company's gross margin for this period stood at 45.2% on a reported basis and 45.7% on an adjusted basis. The inventory saw a 24% decrease compared to the prior year. Kontoor Brands also repurchased $20 million of shares. The Wrangler® brand generated $409 million in global revenue, while the Lee® brand reported $219 million, marking decreases of 3% and 9%, respectively.
Key Product Launches
Kontoor Brands continues to expand its product offerings. In 2024, the Lee® brand launched its first golf collection for men, marking a new venture into the sports apparel market. The brand's expansion into this category reflects Kontoor's strategy to diversify its product line to meet consumer demands.