A veteran denim brand with $1.5 billion in annual retail sales, delivery not until 2026, regulatory hurdles will be tough.

Global brand and entertainment platform Authentic Brands Group announces it will acquire the Lee brand under Kontoor Brands, with the transaction expected to be completed in the second half of 2026, subject to regulatory approval and other procedures. Lee's annual retail sales are approximately $1.5 billion, with nearly 40% coming from outside North America. Over the past five years, ABG has also acquired several fashion and sports brands including Reebok, Champion, Hunter, and Forever 21.