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Kontoor Brands, the jeans business spun off from VF Corp, is tumbling. Traders are shunning the owner of Lee, Wrangler, and Rock & Republic brands.
An American clothing giant is spinning off Wrangler and Lee, 2 of the country’s most iconic denim brands
Clothing giant VF Corp. plans to spin off its denim business, which includes the iconic American brands Lee and Wrangler, to focus on strengthening its outdoor and activewear brands, the company said Monday. The move follows years of waning denim sales as consumers swap jeans for yoga pants.