Cramer Remix: The two apparel stocks you need to consider
CNBC's Jim Cramer said Wednesday that the parent company of Wrangler and Lee jeans is a stock that investors should like because it's not a growth stock.

The "Mad Money" host said Kontoor Brands , which also owns Rock & Republic jeans, is a dividend stock that sports a "magnificent" 7.2% yield.

"That's why VF Corp didn't want it," he said, referring to the owner of the fast-growing Vans and North Face brands that spun off the slow-growing jeans company earlier this year. "If you're an investor who wants income, this one's pretty enticing."

To buy the stock, investors must believe that management can stabilize the company and continue to reward stockholders, said Cramer, who thinks the dividend will serve as a floor for the equity. Although they both face challenges, he thinks there is good reason to take a bet on Wrangler and Lee, which rank among the top American jeans companies.

"It may take them a while to turn things around, but with that 7.2% yield ... they're paying you to wait," he said.

For investors looking for growth, however, Cramer suggested owning a share of Levi's "given what they told us last night, basically that they're going to have a very good year in 2020."

Get his full thoughts here