#Denim

2023-12-14

Kontoor Brands announces USD300 Million share repurchase program

Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today reported that the Company’s Board of Directors has authorized a share repurchase program of up to $300 million of the Company’s common stock. The new repurchase authorization replaces the existing share repurchase program announced on August 5, 2021.

“Today’s announcement of a $300 million share repurchase program illustrates our enhanced capital allocation optionality and reflects the strong cash flow generation of our business, while underscoring Kontoor’s unrelenting focus on delivering superior Total Shareholder Return over time,” said Scott Baxter, President, Chief Executive Officer and Chair of Kontoor Brands.

The share repurchase program approved by the Company’s Board of Directors authorizes the repurchase of up to $300 million of the Company’s outstanding common stock.

The timing and amount of repurchases will be determined by the Company based on its evaluation of market conditions, continued compliance with its debt covenants and other factors. The program does not have an expiration date but may be suspended, modified or terminated at any time without prior notice. The Company expects to fund repurchases through cash flow generated from operations.

Jeanologia brings “Billy” to China, the AI transforming denim design

The denim industry is turning its attention to Hangzhou this week, where a new edition of Kingpins, the leading international trade show for the sector, takes place on May 21 and 22. There, the Spanish company Jeanologia, a global leader in sustainable technologies for the textile industry, is introducing its latest innovation to the Chinese market: “Billy”, the first artificial intelligence specifically developed for denim finishing design.

ISKO unveils a new circular vision of color, texture and tactile innovation at Denim Première Vision Milan

At Denim Première Vision Milan (booth G3), ISKO introduces its FW27-28 Collection, built around three defining elements: color, texture and touch. This season, ISKO presents a vision where emotion and advanced textile innovation converge, rooted in a steadfast commitment to responsible material development by utilizing patented technologies and high-quality raw materials, powered by RE&UP.

Uster FiberQ excels for recycled raw materials too

Uster FiberQ is a complete solution for raw material utilization, supporting spinners to achieve consistent quality and profitability every day, building further growth for the future. The Turkish company ORTA relies on FiberQ with recycled yarn for its denim production. Data-driven knowledge puts the producer in control of raw material utilization – ready to make the correct decisions for process efficiency, quality and productivity.

Ence and ShareTex begin initial testing of the ATENEA innovation project to promote textile recycling in Spain

Ence and ShareTex are making progress on the Atenea R&D project, which aims to develop a complete value chain for textile recycling in Spain. Specifically, the goal of the ATENEA project—which is funded by the Center for Technological Development and Innovation (CDTI)—is to connect all the necessary stages for the recovery of textile waste, from collection and management, through recycling and transformation into new raw materials, to their incorporation into new textile products.

DePoly Inaugurates its Showcase Plant in Monthey Switzerland

What if used plastic bottles, PET packaging material and polyester textiles could become raw materials just as high performing as virgin resources? That is the ambition of DePoly, a circular materials company based in Sion, Switzerland which inaugurated its Showcase Plant in Monthey on July 6th & 7th. The first depolymerization facility of its kind and scale in Switzerland, this industrial Showcase Plant represents a major milestone in the company's growth and its journey toward commercialization.

Commission clarifies rules on plastic bottles recycling

The European Commission today adopted new rules on recycling of single-use plastic beverage bottles made primarily of polyethylene terephthalate (PET bottles). These rules establish, for the first time, a methodology to calculate, verify and report chemically recycled content. This is part of the Commission’s December 2025 plastics package.