>> The owner of iconic American fashion brands Lee and Wrangler jeans said on Monday it plans to spin off the denim business. Clothing giant VF Corp announcing it's splitting from its jeans units, creating two separate publicly traded companies. The other units will keep the VF name and focus on more popular brands like Vans sneakers and The North Face, which are bringing in the money.
In recent years, Vans has driven much of VF's growth, while its jean business has fallen short. The popularity of active wear is largely to blame, as US consumers continue to ditch jeans for yoga pants. Among the first to kick off the trend was yoga wear brand Lululemon. Just this year, that company's stock price is up roughly 120%.