Davis Polk advised V.F. Corporation in connection with the spinoff of its wholly owned subsidiary, Kontoor Brands, Inc., into an independent, publicly traded company through a tax-free stock distribution of Kontoor Brands’ common stock to VF’s shareholders. Kontoor Brands comprises the former Jeanswear organization of VF.

VF outfits consumers around the world with its diverse portfolio of iconic outdoor and activity-based lifestyle and workwear brands, including Vans, The North Face, Timberland and Dickies. Founded in 1899, VF is one of the world’s largest apparel, footwear and accessories companies with socially and environmentally responsible operations spanning numerous geographies, product categories and distribution channels.

Kontoor Brands is a global lifestyle apparel company, with a portfolio led by some of the world’s most iconic denim brands: Wrangler, Lee and Rock & Republic. Kontoor Brands designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves.

The Davis Polk corporate team included partners Deanna L. Kirkpatrick, Marc O. Williams and Daniel Brass and associates Roshni Banker Cariello, W. Soren Kreider IV, Sang Hun Lee and Heita Miki. Managing Partner Neil Barr, partner Rachel D. Kleinberg and associate Christina L. Tacoronti provided tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.