Clothing giant VF Corp. is reportedly considering selling or spinning off its denim business, which includes the iconic American brands Lee and Wrangler, the Wall Street Journal is reporting.
The possible move comes following years of waning denim sales amid soaring demand for athletic wear.
VF Corp. owns more than 30 brands, including Vans, The North Face, and Timberland.
VF Corp. did not immediately respond to a request for comment.
Denim sales have been slowing in recent years as the popularity of yoga pants and other activewear has grown.
For the first time in history, US imports of stretchy knit pants exceeded those of blue denim jeans in the US in 2017, according to data from the US Census Bureau. Imports of blue jeans into the US have been declining since 2010.
Overall jeans sales in the US declined nearly 14% to $16.2 billion between 2013 and 2017, according to Euromonitor data cited by the Journal.
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