Latest news with #Jeanius
Fashion Network
2 days ago
- Business
- Fashion Network
Lee taps Slam Jam for distribution of premium Lee 101 line in Europe
The denim brand, owned by American Kontoor Brands, has signed an exclusive distribution agreement with Italian company Slam Jam for its premium Lee 101 line. The agreement is effective for spring-summer 2026 sales throughout the Europe-Middle East-Africa region. The Lee 101 collection brings together the brand's most elaborate pieces. Delving deep into the brand's archives, with elaborate tailoring and a qualitative choice of materials, Lee 101 brings a more cutting-edge interpretation of denim. Lee's management also decided to draw on the expertise of the Italian distribution company founded in 1989 in Ferrara by Luca Benini, a recognized player among premium fashion retailers in the street and heritage worlds. Slam Jam had a showroom in Paris until June 28. This agreement comes at a time when Kontoor Brands is optimizing its organization under the Jeanius plan. In 2024, overall sales fell by 6% to $2.5 billion, including $791 million for the Lee brand. The start of 2025 has confirmed this trend, with a 9% decline in the first quarter. Through this agreement, Lee aims to achieve a targeted redeployment of its Lee 101 line, strengthening its presence in a selective distribution channel and drawing on Slam Jam's expertise to adapt its product discourse to markets in demand for authentic storytelling and textile know-how.
Fashion Network
2 days ago
- Business
- Fashion Network
Lee taps Slam Jam for distribution of premium Lee 101 line in Europe
The denim brand, owned by American Kontoor Brands, has signed an exclusive distribution agreement with Italian company Slam Jam for its premium Lee 101 line. The agreement is effective for spring-summer 2026 sales throughout the Europe-Middle East-Africa region. The Lee 101 collection brings together the brand's most elaborate pieces. Delving deep into the brand's archives, with elaborate tailoring and a qualitative choice of materials, Lee 101 brings a more cutting-edge interpretation of denim. Lee's management also decided to draw on the expertise of the Italian distribution company founded in 1989 in Ferrara by Luca Benini, a recognized player among premium fashion retailers in the street and heritage worlds. Slam Jam had a showroom in Paris until June 28. This agreement comes at a time when Kontoor Brands is optimizing its organization under the Jeanius plan. In 2024, overall sales fell by 6% to $2.5 billion, including $791 million for the Lee brand. The start of 2025 has confirmed this trend, with a 9% decline in the first quarter. Through this agreement, Lee aims to achieve a targeted redeployment of its Lee 101 line, strengthening its presence in a selective distribution channel and drawing on Slam Jam's expertise to adapt its product discourse to markets in demand for authentic storytelling and textile know-how.
Fibre2Fashion
08-05-2025
- Business
- Fibre2Fashion
US' Kontoor Brands raises FY25 outlook, eyes $3.09 bn in revenue
American clothing company Kontoor Brands has projected its revenue to range between $3.06 billion and $3.09 billion in full year 2025, up approximately 17 to 19 per cent year-over-year (YoY), with around 16 per cent of that growth attributed to Helly Hansen. The adjusted gross margin is expected to increase by 80 to 100 bps to a range of 45.9 to 46.1 per cent, including a 40-bps lift from Helly Hansen. The outlook excludes the estimated $50 million impact from recently enacted tariffs, including those affecting Helly Hansen, Kontoor said in a press release. Kontoor Brands is expecting a revenue between $3.06â€'$3.09 billion in FY25, up 17â€'19 per cent YoY, with Helly Hansen contributing 16 per cent of the growth. Adjusted EPS is projected at $5.40â€'$5.50, and gross margin to rise to 45.9â€'46.1 per cent. Q1 2025 revenue was $623 million, down 1 per cent, with strong DTC and Wrangler brand performance offsetting Lee's decline. The adjusted operating income is forecast between $437 million and $445 million, up 15 to 17 per cent over the prior year, with Helly Hansen contributing roughly $37 million. This includes $9 million in acquisition-related stock-based compensation expense. The adjusted earnings per share (EPS) are now expected to be in the range of $5.40 to $5.50, reflecting a 10 to 12 per cent increase YoY. 'Our outlook reflects the enhanced growth, earnings and cash flow profile of our portfolio, supported by the significant benefits of project Jeanius and the expected addition of Helly Hansen,' said Scott Baxter, president, chief executive officer (CEO) and chairman of the board of directors at Kontor . 'We expect the near-term operating environment to remain volatile and tariff policy changes present a significant headwind to our business. However, with the team and strategy we have in place, we are well-positioned to successfully manage through this environment and emerge stronger.' Meanwhile, Kontoor reported $623 million revenue in the first quarter (Q1) of 2025 ended March 29, 2025, marking a 1 per cent YoY decline, though results were flat on a constant currency basis. The global wholesale revenue declined 2 per cent, partially offset by a 5 per cent rise in global direct-to-consumer (DTC) sales. Region-wise, US revenue remained steady at $493 million, with wholesale down 1 per cent and direct-to-consumer up 11 per cent, driven by a 17 per cent increase in digital channels despite a 4 per cent dip in brick-and-mortar retail. The international revenue fell 7 per cent (3 per cent in constant currency) to $130 million, with declines across wholesale and DTC segments. Europe dropped 4 per cent, Asia 3 per cent, and non-US Americas 18 per cent. The Wrangler brand posted a 3 per cent global revenue increase to $420 million, with 3 per cent growth in the US and flat international sales. The Lee brand, as anticipated, saw global revenue fall 9 per cent to $200 million, with declines in both US and international markets. The gross margin of the company stood at 47.5 per cent, while the adjusted gross margin rose by 200 bps to 47.7 per cent compared to the previous year. The reported operating income was $73 million, and adjusted operating income grew 4 per cent to $96 million, including $8 million in acquisition-related stock-based compensation expense. The reported EPS were $0.76, while adjusted EPS increased 3 per cent YoY to $1.20, both figures reflecting $0.11 in acquisition-related compensation expense. 'Our strong first quarter results reflect the operational agility that is a cornerstone of our business. We continued to strengthen our brands, drive market share gains, and grow our presence across categories and channels of distribution. The strength of our gross margin drove strong underlying earnings growth, cash generation and further improvement in our returns on capital,' added Baxter. Fibre2Fashion News Desk (SG)
Fashion Network
07-05-2025
- Business
- Fashion Network
Kontoor Brands Q1 sales dip 1% amid wholesale weakness
Kontoor Brands announced on Tuesday sales decreased 1 percent to $623 million in the first quarter, on the back of declines in global wholesale. The U.S. denim purveyor said Wrangler revenues rose 3 percent to $420 million, with Wrangler U.S. up 3 percent, driven by 14 percent growth in direct-to-consumer and 2 percent growth in wholesale. Wrangler international revenue was flat, driven by a 2 percent increase in wholesale offset by a 12 percent decrease in direct-to-consumer. Meanwhile, Lee brand revenue was $200 million, a 9 percent decrease compared to the prior year. Lee U.S. revenue decreased 8 percent, driven by a 9 percent decrease in wholesale partially offset by a 3 percent increase in direct-to-consumer. Lee international revenue decreased 11 percent driven by a 15 percent decline in wholesale and a 1 percent increase in brick-and-mortar retail. For its quarter ended March 29, operating income jumped 4 percent to $96 million at the Greensboro, North Carolina-based company. 'We continued to strengthen our brands, drive market share gains, and grow our presence across categories and channels of distribution. And, the strength of our gross margin drove strong underlying earnings growth, cash generation and further improvement in our returns on capital,' said Scott Baxter, president, chief executive officer and chairman of the board of directors. 'We have navigated significant disruption over the past five years and have built an organization and operating model rooted in resiliency. Project Jeanius is underway and later this month we expect to welcome Helly Hansen to the Kontoor family, further enhancing our ability to generate long-term value for our shareholders. I want to thank our colleagues around the globe for their continued perseverance and commitment to strong execution amidst an increasingly dynamic environment.' Looking ahead, the company expects annual revenue for the full year to be in the range of $3.06 to $3.09 billion, representing growth of approximately 17 to 19 percent compared to the prior year.
Fashion Network
06-05-2025
- Business
- Fashion Network
Kontoor Brands Q1 sales dip 1% amid wholesale weakness
Kontoor Brands announced on Tuesday sales decreased 1 percent to $623 million in the first quarter, on the back of declines in global wholesale. The U.S. denim purveyor said Wrangler revenues rose 3 percent to $420 million, with Wrangler U.S. up 3 percent, driven by 14 percent growth in direct-to-consumer and 2 percent growth in wholesale. Wrangler international revenue was flat, driven by a 2 percent increase in wholesale offset by a 12 percent decrease in direct-to-consumer. Meanwhile, Lee brand revenue was $200 million, a 9 percent decrease compared to the prior year. Lee U.S. revenue decreased 8 percent, driven by a 9 percent decrease in wholesale partially offset by a 3 percent increase in direct-to-consumer. Lee international revenue decreased 11 percent driven by a 15 percent decline in wholesale and a 1 percent increase in brick-and-mortar retail. For its quarter ended March 29, operating income jumped 4 percent to $96 million at the Greensboro, North Carolina-based company. 'We continued to strengthen our brands, drive market share gains, and grow our presence across categories and channels of distribution. And, the strength of our gross margin drove strong underlying earnings growth, cash generation and further improvement in our returns on capital,' said Scott Baxter, president, chief executive officer and chairman of the board of directors. 'We have navigated significant disruption over the past five years and have built an organization and operating model rooted in resiliency. Project Jeanius is underway and later this month we expect to welcome Helly Hansen to the Kontoor family, further enhancing our ability to generate long-term value for our shareholders. I want to thank our colleagues around the globe for their continued perseverance and commitment to strong execution amidst an increasingly dynamic environment.' Looking ahead, the company expects annual revenue for the full year to be in the range of $3.06 to $3.09 billion, representing growth of approximately 17 to 19 percent compared to the prior year.
