Authentic Brands Group buys Lee Cooper brand for up to $1bn

Image credit: Authentic brand

Brand development and management company Authentic Brands Group (Authentic) has announced that it has entered into a definitive agreement to acquire the intellectual property of US denim jeans brand Lee Cooper from Kontoor Brands for up to $1bn.

The transaction involves an upfront payment of $750 million, and an earn-out supplement of up to $250 million, depending on the Lee Cooper's future performance under Authentic’s ownership.

Kontoor Brands also owns Wrangler and Helly Hansen in addition to Lee; Kontoor has said the sale of the Lee brand "supports Kontoor’s strategy to streamline its brand portfolio in a manner that allows for greater investment in high-performing assets."

Authentic has a portfolio of leading fashion brands and continues to add to it. For example, in January 2026, it bought 51% of the Guess? Brand from its founders and major shareholders for an estimated $700m, as reported by Vogue Business, while a year ago, it bought the Dockers casual clothing brand from Levi’s for $331m.

Authentic said in a statement:

“As the owner of some of the most iconic and beloved sports, fashion, media and entertainment intellectual property in the world, Authentic sees Lee as a natural fit for its global platform. Lee is a pioneer in denim and workwear with more than a century of cultural influence, innovation and craftsmanship behind it. Today, the brand generates approximately $1.5 billion in annual retail-equivalent sales across 73 countries, with nearly 40% coming from outside the US and Canada.”

"What makes Lee so compelling is its legacy," said Jamie Salter, Founder and Executive Chairman of Authentic.

"It's one of the most important names in denim, with more than a century of heritage, consumer awareness and cultural relevance already built in. At Authentic, we focus on preserving what consumers love about their favourite brands while putting the right partners, distribution and marketing strategies behind them to drive long-term growth. Lee is exactly the kind of brand we are built for.”

Upon closing the transaction, the statement says, Authentic plans to convert the Lee business into a licensing model, and is in discussions with leading brand operators to support Lee's existing business and expand it across content, experiences and heritage-driven lifestyle categories. This follows its usual strategy – to buy brands and IP and then negotiate licensing agreements for manufacture and distribution of products in key markets. Usually, it will negotiate some of these partnerships in parallel with the talks for the actual brand purchase. With more than 1,700 licensing partners in 150 countries, Authentic’s brands currently deliver more than $36 billion in annual retail sales worldwide.

The Lee Cooper transaction is subject to certain standard closing conditions, including regulatory approval, and is expected to close in the second half of 2026.

Authentic’s diversified portfolio spans more than 50 brands and reaches nearly one billion social media followers. It owns or manages fashion, personality, and media brands including Reebok, Champion, Shaquille O’Neal, David Beckham, Kevin Hart, Sports Illustrated, Elvis Presley, Muhammad Ali, Marilyn Monroe, GUESS, Aéropostale, Nautica, Eddie Bauer, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Izod, Van Heusen, Dockers, Ted Baker, Hart Schaffner Marx, Vince, Barneys New York, Judith Leiber, Quiksilver, Spyder, Billabong, Volcom, Roxy, RVCA, DC Shoes, Prince, Sperry and Hunter Boots.