Jeans brand Lee acquired by Authentic Brands Group for nearly 1 billion euros

The American jeans brand Lee is changing hands. Kontoor Brands, the company behind Wrangler and other brands, is selling Lee to Authentic Brands Group (ABG) for a sum that could reach $1 billion.

Insufficient impact

With the sale of Lee, Kontoor Brands is taking an important step in its repositioning. The company wants to focus on its growth engines, Wrangler and Helly Hansen, which were acquired in 2025. “We want to allocate our resources where we can make the greatest impact,” a Kontoor spokesperson stated. The sale of Lee fits into that strategy: the brand performed less strongly than the other labels in the portfolio.

In the first quarter of 2026, Kontoor reported revenue of $808 million (€747 million), of which $613 million came from Wrangler and Helly Hansen. That represents a 45% increase compared to the same period last year. Wrangler recorded revenue growth of 4%, with a strong international performance (+20%). Lee contributed only $195 million (€180 million) to total revenue.

ABG Focuses on Acquisitions

For buyer Authentic Brands Group, the acquisition marks a new step in the expansion of its brand portfolio. ABG, which already owns Reebok, Champion, and Brooks Brothers, among others, announced just last week that it plans to go public within twelve months. The group appointed a new CEO with a Wall Street background for this purpose.

Founder and current CEO Jamie Salter wants to be able to focus 100% on acquisitions, of which Lee is the first example. “Lee is an iconic brand with a rich history and a strong position in the denim market,” said Salter. “We see plenty of opportunities to grow the brand further, both in the United States and internationally.” The deal is expected to close in the second half of 2026, subject to regulatory approval.