Lee and Wrangler’s history together could be coming to an end soon.

On Thursday, parent company Kontoor Brands announced it has initiated a competitive process to divest the Lee business. The Greensboro, N.C.-based company began the process in Q1 2026 and has reportedly attracted interest from multiple parties. It anticipates entering into a definitive agreement to divest the business in 2026. As a result, the company has reported the results of the Lee business in discontinued operations.

Kontoor expects the divestiture of Lee to be immaterial to earnings per share over a 12-to-18-month period.…