The brand and entertainment platform has entered into an agreement to acquire Lee from Kontoor Brands Inc. in a deal valued at up to $1bn – with an initial transaction value of $750M and a $250M earnout opportunity in future years based on the performance of Leeunder Authentic’s ownership.
A pioneer in denim and workwear, Lee was founded in 1889. It generates approximately $1.5bn in annual retail-equivalent sales across 73 countries, with nearly 40 per cent coming from outside the US and Canada.
Authentic said it plans to convert the Lee business into a licensing model, leveraging its brand-building expertise, network of more than 1,700 best-in-class partners and powerful marketing and storytelling platform. The company is in discussions with leading brand operators to support Lee’s existing business and expand it across content, experiences and heritage-driven lifestyle categories.
“What makes Lee so compelling is its legacy,” said Jamie Salter, Founder and Executive Chairman of Authentic. “It’s one of the most important names in denim, with more than a century of heritage, consumer awareness and cultural relevance already built in. At Authentic, we focus on preserving what consumers love about their favourite brands while putting the right partners, distribution and marketing strategies behind them to drive long-term growth.”
Authentic’s portfolio spans more than 50 brands. Its roster includes Reebok, Champion, Shaquille O’Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, GUESS, Aéropostale, Nautica, Eddie Bauer, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter.
