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Global casualization rule apparel market: Kontoor CEO

Aug 10, 2021
Global casualization rule apparel market: Kontoor CEO

According to Scott Baxter, President and CEO, Kontoor Brands, the culture of casual clothing that started during the pandemic will continue to rule the apparel industry.

Baxter also said that according to him in the current scenario global casualization dominates the industry. He feels that this concept will continue and will also be the future of the world. He also feels that people are more comfortable in denim and T-shirts. They like to dress more casually now.

After the pandemic, pajamas and T-shirts have become people’s go-to clothing choice. This has spread a culture of maintaining a comfortable and cozy wardrobe. Americans have decided that once they will return to work, they will still maintain a pandemic-inspired “leisure work” style.

According to the statistics, Kontoor Brands, which sells denim under the brand name Wrangler, Lee, Rock & Republic, has recorded a sale of $ 491 million in Q2 which is a 41% increase from the last year. Also, the global revenue of Wrangler increased by 24% and has reached $311 million whereas the revenue of Lee shot up by 105% and has reached 176 million. As a result, the stock price of the company skyrocketed by 165%.

As per Baxter, the brand is trying to come up with better products so that people can buy more when they pay more. He added the surveys show that 84% of people want to upgrade their wardrobe and shift to casual wear.

Source – Texas News Today

Image Source: Wikipedia

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