CEO of Wrangler parent says 'global casualization' will continue to dominate apparel market

  • 📰 CNBC
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Scott Baxter, CEO of Wrangler parent Kontoor Brands, told CNBC the pandemic-inspired casual clothing boom will continue to lead apparel sales.

as they return to the office this fall, and major brands and department stores are offering more casual items.

, a 41% increase compared with last year. Wrangler's global revenue was up by 24%, to $311 million, during this period compared with last year, and Lee's was up by 105%, to $176 million."We're just building better products that people are paying more for and buying more of," Baxter said.

"We did a survey of a bunch of our consumers and found that 84% of the people are going to upgrade their wardrobe, and a lot of that is going to be in the casual sector," Baxter said. "Denim is going to actually be a big winner there, but so will T-shirts and some more different apparel likings from a casual standpoint ... we're positioned really, really well with that casualization globally.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines