Apparel Online Bangladesh Magazine May Issue 2019 | Page 72
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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.