China and Europe boost Kontoor in Q3
Kontoor, the US-based owner of denim brands Lee and Wrangler, recently reported the results of its fiscal third quarter (Q3).
Notably, the business’ total revenues increased by 12% to $652 million for the period, which the group particularly attributed to its strengths in the digital sphere (both in terms of owned websites and digital wholesale contracts).
Whereas group-level revenue for the US market was up 8% on the year previous, growth across international markets was especially strong, rising 25% year on year. Revenues in China rose by 22%, followed by Europe (up 19%).
At brand level, Wrangler performed best with a 22% boost to its global revenues. Lee, by contrast, saw a 6% boost across the board.
“Kontoor is uniquely positioned to win in the marketplace, as evidenced by another quarter of broad-based strength across segments, channels and regions. We expect our momentum to continue building,” commented company president and chief executive, Scott Baxter.
