On November 4, Authentic Brands Group, a global brand and entertainment platform, officially announced that it has completed the acquisition of Lee's intellectual property rights from Kontoor Brands, Inc. Lee was founded in 1889 and is one of the most famous denim brands in the world. Lee has operations in 73 countries around the world, with annual retail equivalent sales of about US$1.5 billion, of which nearly 40% comes from regions other than the US and Canada.

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