VF Reveals Kontoor’s Vital Stats Ahead of Spin-off

VF Corp. took its first steps in spinning off its jeans business Monday and, in doing so, revealed some of its vital statistics. In a filing to the Securities and Exchange Commission, VF announced that the spin-off of its jeans brands Wrangler, Lee and Rock & Republic and its outlet business into a separate entity called Kontoor, first announced in August, is on track to be completed sometime next month. “Our teams across VF have made tremendous progress to prepare for the successful separation of Kontoor Brands from VF and this filing is a significant next step in this process,” Steve Rendle, chairman, president and chief executive officer of VF, said in a statement. “We are highly confident that the separation is the best path forward for both organizations to achieve even greater potential and enhance long-term shareholder value.” The idea behind the move is to separate the relatively staid jeans brands from VF’s best-performing names, Vans and North Face. As part of the deal, Kontoor, which will stay in North Carolina while VF will move to Denver, will get its own dedicated management team that can focus on capturing a bigger slice of the resurgent denim market — a category that is bouncing

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