Kontoor Brands Releases 2020 Sustainability Report Showing Solid Progress Towards Company Goals
GREENSBORO, NC – (COMMERCIAL THREAD) – Building on past commitments and stated goals, Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company with a portfolio led by two of the world’s most iconic consumer brands , Cowboy® and Lee®, today released its 2020 Sustainability Report, the second report in the company’s two-year existence as a listed organization. In accordance with Global Reporting Initiative (GRI) and Sustainable Accounting Standard Board (SASB) standards, the report details Kontoor’s progress in advancing its sustainability agenda focused on people, products and the planet – working with the highest standards of ethics and transparency, seeking to source sustainable products and materials and from partners who share its values.
“Sustainability is at the heart of our DNA at Kontoor – a fundamental part of how we do business around the world,” said Scott Baxter, Chairman of the Board, President and CEO of Kontoor Brands. “While we are pleased with our initial progress described in the report, we recognize that we can do more. As we move forward, we are committed to using our scale and focused approach to drive meaningful environmental and social progress for all of our stakeholders. ”
Throughout a volatile 2020 for the apparel industry, Kontoor continued its holistic approach to its sustainability strategy which encompasses the end-to-end product lifecycle and is deeply embedded in the overall business strategy of the company. Kontoor Brands tightly manages its supply chain and distribution, and directly owns a third of its manufacturing operations. The company also leverages its strong relationships with third-party manufacturers and seeks to integrate sustainability into all stages of production to improve the overall impact of its products.
“Although our industry has faced considerable uncertainty over the past two years, we have used this time to strengthen our resolve to meet our goals and set new ones – for our people, our products and the planet.” said Jeff Frye, vice president of purchasing, product development, innovation and sustainability, Kontoor Brands. “We are incredibly proud of the progress we have made during this time and have come together as a team and continue to focus on building a more resilient future.”
Highlights of the report include:
By deploying innovative water saving and recycling technologies such as IndigoodMT, Kontoor has reduced its water use by more than 8 billion liters since 2008, putting the company on track to meet its goal of saving 10 billion liters of water by 2025.
For the more than 120 million units of the company’s clothing and accessories it produced in 2020, Kontoor’s teams purchased 50% of its cotton sustainably, on track to reach 100% of sustainable cotton in all products by 2025.
In line with the company’s goal of working exclusively with factories that support the well-being of workers, Kontoor teams have launched community development programs in some factories in Bangladesh to provide clean drinking water, sanitation and hygiene education and education for 1,200 local workers.
Kontoor is on track to use 100% of its preferred chemistry by 2025 and plans to announce a science-based climate target for greenhouse gas emissions in 2022.
These goals are supported by a wide range of initiatives across Kontoor Brands’ production chain – from an emphasis on circularity and diversion of materials from landfills to partnering with the HER Business for Social Responsibility project to improve the access to knowledge and health services for garment workers in Bangladesh. Kontoor aims not only to set and achieve its own ambitious goals, but also to apply lessons learned and best practices transparently so that others can bring these innovations to life in their own manufacturing operations.
The Kontoor Brands 2020 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards and the SASB Apparel, Accessories and Footwear Industry Standard. To read the full report or to find additional information on Kontoor Brands’ sustainability approach and goals, visit KontoorBrands.com/Sustainability.
About the Kontoor brands
Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle clothing company, with a portfolio led by two of the world’s most iconic consumer brands: Cowboy® and Lee®. Kontoor designs, manufactures and distributes premium products that are beautiful and well-fitting, giving people around the world the freedom and confidence to express themselves. Kontoor Brands is an organization driven by a focus on leveraging its global platform, strategic sourcing model and premier supply chain to drive brand growth and deliver long-term value. term to its stakeholders. For more information on Kontoor Brands, please visit www.KontoorBrands.com.
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements may be identified by the use of words such as “could”, “could”, “will”, “should”, “expects”, “plans”, “objective”, ” target, “mission”, “strategy”, vision “,” roadmap “,” anticipates “,” believes “,” believes “,” predicts “,” potential “or” continue “or the negative version of these words or other comparable words. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Any statement that refers to expectations or other characterizations of future events or circumstances, such as statements regarding Kontoor’s sustainability commitments, goals, targets and plans, as well as our progress towards those goals. are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Risks and uncertainties include: assumptions do not materialize; changes in government regulations; our expansion into new products, services, technologies and geographies; scientific or technological developments; evolving sustainable development strategies; economic, competitive, technological and public health factors affecting our operations, markets, products, services and prices; or other changes in circumstances; and the factors set out under “Risk Factors” in Kontoor’s annual report on Form 10-K for the year ended January 2, 2021 and Kontoor’s quarterly report on Form 10-Q for the quarter ended October 2 2021. You are cautioned not to place undue reliance on these forward-looking statements. Kontoor assumes no obligation to update or publicly review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.