Apparel Online Bangladesh Magazine May Issue 2019 | Page 72

RETAIL CURRENT THE LATEST NEWS HAVE YOUR SAY For the latest news on apparel and textile, make sure that you visit https://apparelresources.com/top-news/ Write to Apparel Resources, B-32, South Extension-1, New Delhi (110049), India or email: [email protected] VF Corp. begins process to launch Kontoor Brands, announces public filing VF Corp., on 1st April 2019, announced the public filing of necessary paperwork with the US Securities and Exchange Commission to initiate the processing of separating VF Jeanswear organisation into an independent, publicly traded company. filing is a significant next step in this process,” said Steve Rendle, Chairman, President and CEO, VF Corporation. The new company, named Kontoor Brands Inc., will include Wrangler, Lee and Rock and Republic brands as well as VF’s outlet business. He expressed optimism that this separation is the best path forward for both companies to achieve greater potential and enhance long-term shareholder value. The separation is reportedly to be completed in May 2019 subject to VF’s board of directors, customary regulatory approvals as well as tax and legal considerations. Expressing happiness, Scott Baxter, CEO, Kontoor Brands, said Kontoor Brands is positioned strongly to prosper as a leader in the global apparel industry and deliver long-term value for all of its stakeholders. “Our teams across VF have made tremendous progress to prepare for the successful separation of Kontoor Brands from VF and this Roots Canada launches its first retail store in Hong Kong Roots Canada, a premium outdoor lifestyle brand, recently launched its maiden retail outlet in the shopping centre at Harbour City, Hong Kong. The store was launched with the brand’s Asian retail operating partner Branded Lifestyle Group. The unveiling of the Hong Kong store coincided with the launch of the brand’s online store on zalora.com.hk, which is a prominent name in Hong Kong’s online fashion shopping. Jim Gabel, President and CEO, Roots Canada, said that to launch a store in Hong Kong’s largest shopping centre is the first and very significant step and could go all the way in becoming a multi- store market for Roots. “Now, with an online store on Zalora, the shoppers can go beyond the retail stores and can connect with Roots anytime and anywhere from Hong Kong,” further elaborated Jim. Reportedly, the four-decade-old brand, through this new store, brings together cabin comforts and city conveniences to give a feel of home to the shoppers. Also, 72 Apparel Online Bangladesh | MAY 2019 | www.apparelresources.com each corner of the store exhibits the character and heritage of Roots by engaging the shoppers in the brand’s stories and products of over 45 years. The store is curated into four major areas, each telling a unique story of the brand, which also includes a Cooper Beaver Collection that pays tribute to the Cooper Beaver – the iconic logo of Roots. “The leisure-and-lifestyle-apparel trend continues its momentum in Asia and we believe that the focus of Roots on comfort and style makes it a perfect fit for the Hong Kong market,” stated Sunny Wong, CEO, Branded Lifestyle Group.