The Authentic Brands Group global brand and entertainment platform has signed a definitive agreement to acquire Lee, one of the historical global denim brands from Kontoor Brands, a few days after the announcement of the company.
“Authentic sees Lee as a natural fit for its global platform,” a note of the giant brand holding says.
Lee is of of the foundeing brands in jeans history aling with Levi’s and Wrangler as it is pioneer in denim and workwear with more than a century of cultural influence. It was founded in 1889 and is one of the world’s most iconic denim and casual apparel brands. Known for its heritage craftsmanship, innovation and timeless style, Lee has shaped generations of culture and self-expression through authentic American design.
The brand generates approximately US$1.5 billion in annual retail-equivalent sales across 73 countries, with nearly 40% coming from outside the US and Canada.
“What makes Lee so compelling is its legacy,” said Jamie Salter, founder and executive chairman, Authentic.
“It’s one of the most important names in denim, with more than a century of heritage, consumer awareness and cultural relevance already built in. At Authentic, we focus on preserving what consumers love about their favorite brands while putting the right partners, distribution and marketing strategies behind them to drive long-term growth. Lee is exactly the kind of brand we are built for,” added the manager.
Upon closing of the transaction, Authentic plans to convert the Lee business into a licensing model, leveraging its brand-building expertise, network of more than 1,700 partners and marketing and storytelling platform.
The company is in discussions with brand operators to support Lee’s existing business and expand it across content, experiences and heritage-driven lifestyle categories.
The agreement to sell Lee to Authentic Group is up to US$1 billion, including an initial transaction value of US$750 million and a US$250 million earnout opportunity in future years based on the performance of Lee under Authentic’s ownership. The transaction is subject to required regulatory approvals and customary closing conditions.
Authentic Brands’ portfolio spans more than 50 brands and reaches nearly one billion social media followers. Its roster includes Reebok, Champion, Shaquille O’Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, Guess, Aéropostale, Nautica, Eddie Bauer, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter.”