Kontoor Brands is an apparel company built around three denim and outdoor lifestyle brands: Wrangler, Lee, and Helly Hansen. Wrangler is a 79-year-old American denim and western lifestyle brand spanning casual wear, workwear, and outdoor, and has posted 14 consecutive quarters of market share gains in men's and women's bottoms. Lee is a 137-year-old American denim brand currently undergoing a repositioning — exiting weaker distribution channels and refreshing its marketing — with U.S. digital growing double-digits as an early turnaround signal. Helly Hansen is a premium Norwegian outdoor and workwear brand acquired in May 2025 for ~$957M, generating over $700M in revenue on a full-year pro forma basis; the brand spans ski, sailing, outdoor, and professional workwear, with ~75% of revenue outside the U.S. Kontoor sells primarily through wholesale to retailers like Walmart, Target, Boot Barn, and REI, with a smaller but growing direct-to-consumer business across branded e-commerce and ~132 owned stores, plus a licensing business. Roughly 77% of units are sourced from third-party contract manufacturers across 28 countries, with the remainder from owned manufacturing in Mexico. Kontoor's growth strategy centers on expanding Wrangler and Helly Hansen in U.S. wholesale, growing women's and premium outdoor categories, scaling Helly Hansen's workwear business into the U.S., and building DTC. Tariffs are a near-term headwind, with an unmitigated FY26 impact of over $100M. The company funded the Helly Hansen acquisition largely with debt and is prioritizing rapid deleveraging, targeting below 1.5x net leverage by end of 2026.