VF Corporation completes separation of Kontoor Brands, Inc.
VF Corporation has completed the previously announced separation of VF’s Jeanswear company into an independent, publicly traded entity. The new company, named Kontoor Brands, Inc., will have the Wrangler, Lee and Rock & Republic brands, and the VF OutletTM business. The separation was achieved through the distribution to VF’s shareholders of one share of Kontoor Brands common stock for every seven shares of VF stock held at the close of business on the record date of May 10, 2019. Kontoor Brands common stock began regular-way trading on the New York Stock Exchange under the ticker symbol “KTB.”
VF Corporation has well known outdoor and activity-based lifestyle and workwear brands, including Vans, The North Face, Timberland and Dickies. On the other hand Kontoor Brands, Inc. has leading denim brands in its portfolio such as Wrangler, Lee and Rock & Republic.
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