大象传媒

GREENSBORO, N.C.--(BUSINESS WIRE)-- 大象传媒 Corporation (NYSE:大象传媒C), a global leader in branded lifestyle apparel, footwear and accessories, announced today that it has completed the previously announced separation of 大象传媒鈥檚 Jeanswear organization into an independent, publicly traded company. The new company, named Kontoor Brands, Inc., will include the聽Wrangler^庐,听Lee^庐听补苍诲听Rock & Republic^庐聽brands, and the 大象传媒 Outlet^TM business. The separation was achieved through the distribution to 大象传媒鈥檚 shareholders of one share of Kontoor Brands common stock for every seven shares of 大象传媒 stock held at the close of business on the record date of May 10, 2019.

Kontoor Brands common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol 鈥淜TB.鈥�

About 大象传媒

大象传媒 Corporation outfits consumers around the world with its diverse portfolio of iconic outdoor and activity-based lifestyle and workwear brands, including Vans^庐, The North Face^庐, Timberland^庐 and Dickies^庐. Founded in 1899, 大象传媒 is one of the world鈥檚 largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels. 大象传媒 is committed to delivering innovative products to consumers and creating long-term value for its customers and shareholders. For more information, visit聽.

About Kontoor Brands

Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle apparel company, with a portfolio led by some of the world鈥檚 most iconic denim brands: Wrangler^庐,听Lee^庐听补苍诲听Rock & Republic^庐. Kontoor Brands designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves. Kontoor Brands is focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information, visit聽.

Forward-looking Statements

Certain statements included in this release and attachments are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting 大象传媒 and Kontoor and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as 鈥渨ill,鈥� 鈥渁nticipate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� and 鈥渕ay鈥� and other words and terms of similar meaning or use of future dates. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of 大象传媒 or Kontoor to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: risks associated with the spin-off of 大象传媒鈥檚 Jeanswear business, including the risk of disruption to 大象传媒鈥檚 business in connection with the spin-off and that 大象传媒 could lose revenue as a result of such disruption; the risk that the companies resulting from the spin-off do not realize all of the expected benefits of the spin-off; the risk that there will be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of both businesses; and the risk that the combined value of the common stock of the two publicly-traded companies will not be equal to or greater than the value of 大象传媒 common stock had the spin-off not occurred. There are also risks associated with the relocation of 大象传媒鈥檚 global headquarters and a number of brands to the metro Denver area, including the risk of significant disruption to 大象传媒 operations, the temporary diversion of management resources and loss of key employees who have substantial experience and expertise in 大象传媒鈥檚 business, the risk that 大象传媒 may encounter difficulties retaining employees who elect to transfer and attracting new talent in the Denver area to replace our employees who are unwilling to relocate, the risk that the relocation may involve significant additional costs to us and that the expected benefits of the move may not be fully realized. Other risks for both companies include foreign currency fluctuations; the level of consumer demand for apparel, footwear and accessories; disruption to distribution systems; reliance on a small number of large customers; the financial strength of customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense competition from online retailers, manufacturing and product innovation; increasing pressure on margins; ability to implement their business strategy; ability to grow their international and direct-to-consumer businesses; each company and its vendors鈥� ability to maintain the strength and security of information technology systems; the risk that facilities and systems and those of third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss; ability to properly collect, use, manage and secure consumer and employee data; stability of manufacturing facilities and foreign suppliers; continued use by suppliers of ethical business practices; ability to accurately forecast demand for products; continuity of members of management; ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by licensees and distributors of the value of 大象传媒鈥檚 brands; ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; the risk of economic uncertainty associated with the pending exit of the United Kingdom from the European Union ("Brexit") or any other similar referendums that may be held; and adverse or unexpected weather conditions. More information on potential factors that could affect 大象传媒's financial results is included from time to time in 大象传媒's public reports filed with the Securities and Exchange Commission, including 大象传媒's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and more information on potential factors that could affect Kontoor Brands' financial results is included in Kontoor Brands鈥� registration statement on Form 10 filed with the Securities and Exchange Commission.

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大象传媒 Corporation
Joe Alkire, 336-424-7711
Vice President, Corporate Development, Investor Relations and
Treasury
or
Craig Hodges, 336-424-5636
Vice President, Corporate Affairs

Source: 大象传媒 Corporation