President, Chief Executive Officer and Chairman of the Board, Kontoor Brands, Wrangler (brand of Kontoor Brands, Inc.)
WGHP NEWSMAKER: SCOTT BAXTER, KONTOOR BRANDS
Neill McNeill's Newsmaker Interview with Kontoor Brands President and CEO Scott Baxter as aired in the 10pm Newscast 9/17/19.
About Scott Baxter
Scott Baxter, chairman, president and CEO of Kontoor Brands, discussed the company's acquisition of Helly Hansen for roughly $900 million in a February 2025 interview with Jim Cramer on "Mad Money." Baxter said the acquisition gave Kontoor both an outdoor and workwear brand, describing it as a "really nice fit" that offers a growth opportunity. He noted that the company had been patient in looking for deals and moved quickly when the Helly Hansen opportunity arose. Kontoor also preannounced fourth-quarter results that beat expectations on both revenue and earnings. In a separate October 2024 podcast focused on financial literacy, Baxter discussed personal finance strategies, including the importance of building a budget, establishing an investment pattern, and paying down debt. He recounted his experience during the 2008 financial crisis, saying it was a "real lesson" in how quickly a portfolio can lose value. Baxter has also emphasized Kontoor's commitment to Greensboro, North Carolina, stating in a 2019 interview that he was "100 percent committed" to keeping the company's headquarters there and investing in the community.
Transcript (24 segments)
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Reporter0:08
Well, the tarp was a little slow unveiling the new sign, but this company makes durable fabric. These festivities in Layton marked the grand opening of the latest chapter in Greensboro's denim history, where Kontoor Brands is the new parent company of Wrangler and Lee jeans. It was spun off by VF Corporation when it relocated to Denver. Scott Baxter is the new CEO, previously a top VF executive who lived here five years and later ran VF's outdoor and sports businesses in California. He's back with dedication to Greensboro and the nearly 1,000 Kontoor employees here.
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Scott Baxter1:05
Neil, you're sitting in a store that we could have put anywhere in the United States. Many locations would have done double or triple the revenue, but we chose here because the downtown needed it, we wanted to bring energy and invest where we live.
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Reporter1:24
It's not every day you meet the head of a multi-billion dollar company in a small retail store, but I had that opportunity with Scott Baxter. This is the Lee Wrangler studio store in downtown Greensboro, and the brands are all over the place.
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Scott Baxter1:39
We put products in here that you can't find anywhere else other than on our website.
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Reporter1:45
Baxter is comfortable here, but then again he wears what his company sells.
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Scott Baxter1:47
But you know, every day varies. I have both Wrangler items on today, and tomorrow I might have a Wrangler and a Lee. It just depends on the day.
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Reporter1:56
You still own a coat and tie?
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Scott Baxter1:56
You know I do, I still want a suit. I think...
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Reporter2:00
Over here in the Kontoor Brands headquarters, not even a mile down Elm Street from the studio store, this hall of history illustrates Wrangler's 70-plus-year relationship with Greensboro as an offspring of the Blue Bell Overall Company and a brand synonymous with Dale Earnhardt and another figure.
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Scott Baxter2:17
So I think of our products as authentic cowboy cool. You know, it brings you back to those moments when you were younger and you were doing fun things.
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Reporter2:25
As for Lee, Baxter says it's all about innovation.
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Scott Baxter2:28
Or the first company to put a zipper in a pair of denim. We were the first company to create work clothes.
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Reporter2:33
Lee has now moved its headquarters from Kansas City to Greensboro to join Wrangler under the name Kontoor. It's a variation of the word 'contour', meaning to mold into a specific shape, or in this company's view, the perfect fit.
What makes Greensboro work well for Kontoor Brands?
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Scott Baxter2:55
So you've got history, you've got heritage, and you've also got a community that rallies around our company. We're very embedded in the community, and most of our executives do something in the community.
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Reporter3:10
But much of Kontoor Brands exists outside of Greensboro. Most products are made overseas in places like Mexico, meaning there are issues of tariffs and trade beyond its control.
Do you ever see any more textile and apparel manufacturing coming back to the United States? The reason I ask is because you hear that a lot among the politicians.
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Scott Baxter3:33
Never say never. I go back to that technology equation. If we develop the technology that could help us do that, then that would be an advantage.
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Reporter3:41
What does the future hold given that e-commerce is so strong?
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Scott Baxter3:46
We have positioned our portfolio to be with the strongest retailers who have both physical brick-and-mortar and e-commerce components. We sell to both parts of them. In other words, you can buy Wrangler and Lee denim both in stores and online.
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Reporter4:01
The company's relevance, Baxter says, will also depend on innovation. Lee's Shape Allusions line will be available in more than 2,500 Walmart stores this fall. Cutting-edge technology has helped develop these items to flatter your figure. But Baxter says there are no plans to take the company away from its roots.
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Scott Baxter4:25
I'm a hundred percent committed as the CEO to stay in Greensboro. I'm here to let everybody know that we're going to be here, invest in this community, invest in our people. We're proud to be part of Greensboro and North Carolina.
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Reporter4:41
A couple of things Baxter says would help his company: a wider selection of airline flights from the Greensboro airport and talent availability. He says we need to keep college graduates in the Piedmont Triad.
Kontoor Brands has more than 17,000 employees worldwide and 2,000 here in North Carolina.