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Our Opinion: Kontoor fits here like a pair of old jeans

When three executives from the freshly minted Kontoor Brands paid a visit last week, they came dressed in denim and steeped in optimism.

They were bullish about their company, which was part of a more familiar company, VF Jeanswear, before it was spun off last year.

They see sales ticking up and new possibilities for their marquee brands, Wrangler and Lee, which will remain separate.

And most encouraging, they see a bright future in Greensboro, which they have embraced warmly and unequivocally as their hometown.

They say they like it here because of Wrangler’s deep roots in Greensboro.

They also consider this city a good place to live and raise a family, with reasonably priced housing and manageable traffic.

And they not only want to be in Greensboro, they want to be partof Greensboro.

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Kontoor is coming: Opening date for the new VF jeanswear spinoff is just weeks away

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Within the next month, a publicly traded company with annual revenues of about $2.7 billion will officially call Greensboro its home. 

Kontoor Brands, consisting of Wrangler, Lee, Rock & Republic and VF Outlets, will spinoff from VF Corp. on May 23, according to Zack Matheny, president of Downtown Greensboro Inc. The retention of Kontoor Brands is the silver lining to the news that broke in August 2018 that VF will move its headquarters from Greensboro to Denver. 

"Losing that (VF's global headquarters) is difficult," Matheny said. "I've never sugar-coated that. It's tough."

HEADQUARTERS: The company's local footprint will consist of its headquarters at the Wrangler building on North Elm and 43,000 square feet at Revolution Mill. Matheny told Triad Business Journal that Kontoor also will move 115 people into the former Home Savings Bank building at 444 N. Elm St. Kontoor declined to confirm this to TBJ.

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Part Of VF Corp. Moving To Revolution Mill In Greensboro

GREENSBORO (WFMY) - VF Corporation has selected Greensboro’s Revolution Mill as the new home for parts of its Jeanswear business. In August, VF announced it was creating an independent, publicly traded company, currently called 'NewCo,' which comprises VF's Jeans brands including Wrangler and Lee.

VF has signed a five-year lease with Revolution Mill. Around 125 U.S. NewCo employees will move into the 43,000 square-foot space in the former textile mill beginning in March 2019. 

“We are making great progress in our work to establish the Jeanswear business as its own publicly traded company, and today’s announcement is another important milestone as we move toward the separation in the first half of 2019,” said Steve Rendle, VF’s Chairman, President and CEO. “Revolution Mill is a historical property that honors the Greensboro community’s storied textile heritage. It’s only fitting that our Jeanswear organization will locate select functions there and help to continue the rich history and legacy of the Revolution Mill campus.”

In August, VF announced it's moving its global headquarters from Greensboro to Denver. The Denver headquarters will also become home to VF brands such as The North FaceJanSportSmartwoolAltra and Eagle Creek.

The official name of NewCo will be announced by the end of 2018. NewCo will employ approximately 25,000 employees globally.

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VF spinoff taps Wrangler building for HQ, but some functions are bound for Revolution Mill

VF spinoff taps Wrangler building for HQ, but some functions are bound for Revolution Mill

The jeanswear spinoff company of VF Corp., temporarily named "NewCo," will move certain functions into 43,000 square feet at Revolution Mill in Greensboro. 

VF made the announcement Thursday.

NewCo will be a publicly traded company consisting of the Lee, Wrangler and Outlet brands. VF announced the spinoff in August, when it also announced it would be moving its global headquarters from Greensboro to Denver. 

The jeanswear company will have its headquarters at 400 N. Elm St., the current home of the Wrangler brand, VF said. 

The company signed a five-year lease at Revolution Mill – a former textile mill north of downtown Greensboro owned and redeveloped into a mixed-use complex by nonprofit community development organization Self-Help. 

The anticipated move-in timeframe is March 2019. 

NewCo will put merchandising, design and product development and innovation functions in the space that will house 125 NewCo employees. 

Triad Business Journal previously reported that there have been rumors that VF was considering locating functions in the mill complex. 

VF said minimal upfits are needed. 

"As we begin our NewCo journey, Revolution Mill is the ideal space to create an inspiring, creative working environment for our employees," said Scott Baxter, the appointed CEO of NewCo. "We're excited about what this space will offer our employees and brands, and we look forward to joining the vibrant community that exists on the Revolution Mill campus."

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