Authentic Brands Group has completed the acquisition of the intellectual property of Lee from Kontoor Brands.
The company previously entered a definitive agreement to acquire the brand’s intellectual property since May.
Authentic Brands has begun collaborating with a series of operating partners to grow the fashion brand through its licensing model.
Lee is a major American denim brand that was founded in 1889 and has had a long-standing presence in the fashion retail market.
According to the business, the brand generates approximately $1.5bn in retail sales across 73 countries internationally.
Moving forward, additional licensees from Authentic’s global network are expected to join the brand and expand into various categories.
As part of the future plans, the business has a goal of expanding Lee into activewear and workwear as well as lifestyle offerings to bring more innovation.
Jamie Salter, founder and executive chairman of Authentic said: “We are thrilled to welcome Lee to the Authentic family. Lee has the heritage, recognition and consumer loyalty we look for in a brand.
“By connecting Lee to Authentic’s global platform and the right partners in key markets, we see a significant opportunity to expand its reach through content, experiences, and new product categories.”
Some of the key partners that have already been signed include One Jeanswear Group in the US and Canada and Experience Group in Europe.
The partnership aims to offer regional market knowledge and capabilities in product development, sourcing, and distribution across various markets.
Authentic currently operates a wide portfolio of apparel brands, including Reebok, Champion, Guess, and Nine West.
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