Scott Baxter, CEO of Wrangler parent Kontoor Brands, told CNBC the pandemic-inspired casual clothing boom will continue to lead apparel sales.
as they return to the office this fall, and major brands and department stores are offering more casual items.
, a 41% increase compared with last year. Wrangler's global revenue was up by 24%, to $311 million, during this period compared with last year, and Lee's was up by 105%, to $176 million."We're just building better products that people are paying more for and buying more of," Baxter said.
"We did a survey of a bunch of our consumers and found that 84% of the people are going to upgrade their wardrobe, and a lot of that is going to be in the casual sector," Baxter said. "Denim is going to actually be a big winner there, but so will T-shirts and some more different apparel likings from a casual standpoint ... we're positioned really, really well with that casualization globally.
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