Levi Strauss is set to finally part ways with Dockers — inking a deal to sell its brand once credited with propelling the popularity of “Casual Fridays” to Authentic Brands Group.

Levi Strauss & Co. says that its CEO will step down in January and hand over the reins of the jeans maker to his appointed successor.

Michelle Gass, CEO of department store chain Kohl’s, is stepping down from her role early next month and will become the president of denim giant Levi Strauss & Co. Levi’s said in a release that Gass will start on Jan. 2 and the board of directors has put in motion a succession plan for her to succeed Chip Bergh, president and CEO in the next 18 months.

Shares of Kohl’s are up more than 12% before the market open on Tuesday after the retailer announced that it is in exclusive takeover talks with the owner of Vitamin Shoppe.

Kohl’s raised its financial outlook for the year on Thursday, after a solid rebound in the first quarter from the devastating impact of the pandemic.

Kohls on Wednesday became the latest retailer to announce its stores would be closed on Thanksgiving Day due to the coronavirus pandemic. The company posted the announcement on its website, along with a statement from CEO Michelle Gass, who attributed the decision to shifting customer habits. The holiday season is when Kohls shines brightest, and as we move into the holiday season of this very unusual year, we are adapting our plans in response to changing customer expectations and behaviors, Gass said. We are deeply appreciative of how our team of Kohls associates have shown up to serve our customers through this pandemic and know that they will continue to show Kohls at our best throughout the holidays.Kohls joins Best Buy, Target and Walmart, among other retailers, which previously said their stores would not open on the holiday that has become a major shopping day over the years.