2.30%Lee & Wrangler Jeans owner, Kontoor Brands, has confirmed its acquisition of Helly Hansen for $900 million in a deal which is set to fuel the Norwegian outdoors brands future growth.
The Norwegian born performance outdoors brand Helly Hansen has been acquired by Lee & Wrangler Jeans owner, Kontoor Brands, in a deal worth $900 million. The acquisition is expected to massively increase Kontoor Brands (KTB) revenue & EPS (earnings per share) for the latest fiscal year. It is anticipated by the top investors & analysts that Helly Hansen will generate around $680 million in revenue for 2025 for its new owner, Kontoor Brands, which was founded in 2019 as a spin off from the VF Corporation that also operates VF’s chain of factory outlets. Kontoor’s total revenue for fiscal year 20924 was $2.6 billion.
Originally founded in 1877, Helly Hansen is a Norwegian label with a cult like status on the performance apparel scene. If you were knocking about in the underground house clubs of the North West & the surrounding areas in the late 90s & early noughties then the chances are you either owned a Helly Hansen jacket, or new someone that did. Wearing a performance outdoors jacket in a nightclub was probably the last place you actually needed to, but for some reason it stuck on the sticky dance floors of the likes of Bowlers & Maximes. GORE-TEX gear, bouncy basslines & MC’s from Blackpool giving shout outs to crews from Blackley, Blackburn, Bradford & Burnley with brands like Helly Hansen firmly tied around waists as the bass drum kicked in & the Mitsubishi’s started to do their magic. Whilst the average jacket wearer thought Helly Hansen was strictly worn by sailors & North Sea oil workers, it had actually gained a cult like status among a new era of Millennial ravers with a penchant for performance fabrics, sportswear & “casual” designer brands. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news. Also don’t forget to subscribe to KULT & follow @kult_recruit to keep up to date with all the latest industry news.
Today marks an exciting step forward for Kontoor as we expand our portfolio of iconic consumer brands. The acquisition of Helly Hansen will increase our growth profile, drive greater category, channel and geographic diversification, and increase our penetration in the attractive outdoor and workwear markets.
Scott Baxter – CEO Kontoor Brands
