Kontoor Brands announced its strategic vision and 3-year roadmap at its 2021 Investor Day. Various members of the leadership team provided insight into key growth areas and strategic initiatives.
“Despite some tough circumstances, our incredible teams around the world have remained focused on taking care of one another, leaning into our values and on executing with excellence…all while evolving our purpose-led strategies with great agility to position Kontoor for future success,” said Scott Baxter, CEO, and President, Kontoor Brands. “I am incredibly proud of what we’ve been able to accomplish and am grateful to all of my colleagues who made it happen. We are embarking on a transformational period in our company’s history.”
Kontoor is transitioning from Horizon 1 of its strategy as intended when it set out as a standalone organization in May 2019, creating a foundation for longer-term profitable and sustained growth by streamlining operations, migrating to a new global technology platform, driving gross margin expansion, paying down debt and focusing on cash generation.
“Horizon 2 is the next phase in the company’s journey. It’s an evolution and natural progression from where we’ve been focused as a business. Today, we’re stepping on the gas in this next path we’re calling Catalyzing Growth,” added Baxter.
The company is focused on the following four areas that we believe will catalyze revenue growth:
- Enhance and accelerate its core U.S. wholesale business;
- Diversify its product mix through category extensions, amplifying Outdoor, Workwear, and T-Shirts;
- Expand its reach around the globe, prioritizing opportunities within the China region; and
- Elevate its direct connection with consumers through channel expansion, focused on evolving the company’s direct-to-consumer and digital ecosystem
And in support of these long-term growth opportunities, Kontoor is stepping up its investment in accretive enablers:
- Product & Design – transforming the brands in the marketplace with elevated global designs
- Innovation & Sustainability – exploring next-generation technologies to continue to propel the Lee and Wrangler brands
- Supply Chain – driving future productivity gains and improved service and agility with supply partners
- Talent & Culture – promoting an inclusive, growth-minded, high-performing culture
- Demand Creation – activating the brands through new marketing and creative expressions
- To watch a recording of today’s broadcast, please visit https://www.kontoorbrands.com/investors