With Lee on its way out of the portfolio, Kontoor Brands is directing capital and management attention toward scaling Helly Hansen across the US, premium outdoor and workwear.
Kontoor Brands has outlined a plan to grow Helly Hansen into a business generating more than $1.1 billion in annual revenue by 2030, using the Norwegian brand’s first investor day under its new ownership to set out financial and operational targets for the remainder of the decade.
The company said on Sept. 2 in Oslo that it is targeting revenue above $1.1 billion by 2030, compared with pro-forma fiscal 2025 revenue of $675 million, alongside gross margins in the mid- to high-50 percent range, operating margins in the mid-teens and cumulative cash generation of more than $500 million.
Targets follow June’s Lee divestiture agreement
Kontoor has been reshaping its brand portfolio. In June, the company agreed to sell Lee to Authentic Brands Group in a deal worth up to $1 billion that is expected to close in the second half of 2026, subject to regulatory approvals. Management said the transaction would allow it to focus resources on Wrangler and Helly Hansen.
Helly Hansen has already become a significant contributor to the group.: the brand generated $475 million in revenue during roughly seven months of consolidation in fiscal 2025 and was a major driver of Kontoor’s record annual sales performance.
U.S., workwear and outdoor at the center of growth plan
Kontoor identified three priorities for Helly Hansen’s next phase of growth. The first is expanding the brand’s presence in the United States through both wholesale distribution and direct-to-consumer channels. The second is strengthening its position in technical outdoor products beyond its established businesses in wintersports and sailing. The third is accelerating the development of workwear in North America, building on a category that is already well established in Europe.
The company said it intends to use Kontoor’s existing infrastructure and operating platform to support that expansion.
