Authentic Brands Group Completes Acquisition of Lee Brand

Denim legend Lee has joined the Authentic Brands empire

Authentic Brands Group (ABG) has completed the acquisition of the intellectual property rights to the American denim brand Lee from Kontoor Brands. The next stage involves developing the brand through an international network of licensees, who will be entrusted with managing its business in key markets.

Photo: Misha Taylor

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The companies announced the completion of the deal as part of an agreement announced in May. At the time, its potential value was estimated at up to $1 billion. The financial terms of the now-finalised deal are not disclosed separately in the published information.

Following the transfer to ABG’s control, Lee will become part of the holding company’s global licensing platform. Regional partners have already been appointed to manage the apparel division: One Jeanswear Group will handle the US and Canada, Experience Group will manage Europe, HiMaxx will cover mainland China, Hong Kong and Macau, and Union Group will oversee Mexico.

This model will enable ABG to draw on its partners’ local expertise in collection development, sourcing and distribution, without having to establish a single operational structure for all markets. At the same time, the holding company intends to expand its licensing network and take Lee beyond the traditional denim segment into sportswear and workwear, as well as other categories of everyday clothing.

“Lee has a rich heritage, high brand recognition and a loyal following — qualities that we particularly value in brands,” said Jamie Salter, founder and executive chairman of ABG. According to him, integrating the brand into the holding company’s international platform creates opportunities to expand the product range and audience through new categories, content and consumer formats.

Founded in 1889, the Lee brand is present in 73 countries. Its retail sales are estimated at approximately $1.5 billion, with around 40 per cent of this volume coming from markets outside the US and Canada. This scale makes Lee one of the standout assets in ABG’s portfolio and opens up opportunities for the holding company to expand further internationally.

The acquisition of Lee is in line with ABG’s strategy to expand its portfolio of well-known consumer brands. Previously, the holding company acquired a controlling stake in the intellectual property rights of OVO — a lifestyle brand co-founded by Canadian rapper Drake. ABG’s other assets include Reebok, Champion, Dockers, Guess and Nautica.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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