i don't need to do anymore just consider the retail winners and let's start with vf corp, a company ind i like it more when the company spins off the lee and wrangler jeans business as a separate company called contour why? because vf corp owns one of the hottest brands around and they have the 27% growth rate that's huge. meanwhile, there are other big brand northface is ramping back to 16% quote after a tough period when vf corp talks about why it's doing well, you'd think they'd talk about how they're seeing success in certain retailers or certain styles, on the conference call management repeatedly cited purpose-led performance and trying to improve people's lives the company talks about how it powers, quote, a movement of sustainability and active lifestyles for the betterment of people and our planet. it's why we come to work, end quote. i know this sounds like a bunch of buzz words, but in this environment, sustainability is what's in stock and you want to be decertified meaning the company carries the certification and think of it as the good, corporate citizen seal of approva

that's owned by vf corp, and that's going to be part of its own separate public trade company contour's going to be in the first half of this year and then gap owns old navy. that's the third in-market share in the u.s. and that's going to be its own pubically traded company soon globally, zahra is second. that's owned by intadex and then one other pubically traded in europe think about being public and what that can offer for potential employees when you can offer them things like stock options which becomes a very valuable recruiting asset, especially when you're looking at levis headquartered in san francisco in the bay area. the competition for talent we know is very, very tight back over to you guys. >> quick question, courtney. you mentioned all the other moves happening in denim with vf corp spinning off the business and gap breaking up. >> yeah. >> is it a sign that business has been tough or that there's some sort of resurgence? >> no. i -- i actually think, look, denim is one of those things that's always going to be around i don't think people are never going to be wearing

vf corp is spinning off its jean business how is levi doing versus the industry. >> it's clearly theat they have done that's been so successful is brand it as an american iconic symbol and tap into that strain of nationalism, patriotism, authenticity, which is a word that is endlessly thrown around and really make that his wheelhouse. >> no, i agree and it's a heritage brand. you're looking at the resurgence of all these heritage brands lee jeans, wrangler jeans all coming back because we're living in the '90s when it comes to fashion, wouldn't you agree, vanessa? all of these '90s jeans are making a comeback and levi's is leading the way. so one to watch. >> one other question investors have is on the growth outside of denim pants, because tops are 20% actually of the revenues at levi strauss and they have done tremendous growth over the last five years is that something that's a fad, denim tops and jackets >> i think denim jackets will never go away. i personally own three of them just for spring. it's one of those things women feel really easy to wear i've walked in and seen ten w

levi strauss is the biggest denim seller vf corp's wrangler is second followed by old navy and americanff its old navy into its own publicly traded company, too. these newly public entity comes as jean sales in the u.s. are forecast to improve, but slow globally through 2023. research from bernstein analyst merryman shows at leisure market share has grown in the u.s. at the expense of den nim the last five years nike, adidas, lululemon, under armor and athleta have grown as have ralph lauren, gap, j. crew and ba manna republic have lost apparel share. but they see the trend turning as women may be looking to replace yoga pants with jeans once again this year and levi's women's business is less than 30%. it had saeles up 29% and 25% in the last two years american eagle global brand president tells me his brand is number one for women and growing rapidly. he also expects significant growth to continue in both men's and women's jeans this year. sara >> i love this story because this is just a classic debate. and it's really gone to wall street as well and it's the stock that i cover like n

now everybody is getting purpose driven that's the world these vf corp.f the apparel companies. extraordinary. that's a winner. >> i haven't heard that yet. david, i wonder, kyle bass was on worldwide exchange this morning. even earlier for you out west, but he did say he thought u.s. interest rates would go back to zero by next year. >> yeah. 2020, calling for interest rates to head back down and obviously weighing in as kyle seems to want to do a lot these days on china which he started to do with us, i think, joining brian sullivan this morning on this, as you said on wex and talking about all the issues we talked about so often in terms of force technology transfers, intellectual property theft and his view that the number one asset in the u.s. by the way, carl, is our ingenuity, intellectual property and our ability to innovate. but, yeah, interesting thoughts when it comes to 2020 in terms of rates headed back to zero haven't had a chance to talk to kyle about it specifically, so want to sort of fully understand what underlies that, other than his b