VF Corporation Acquires Supreme
Joining a lineup featuring The North Face, Vans and Timberland.
Today, VF Corporation and streetwear giant Supreme announced that the two have signed a definitive merger agreement, and that current investors The Carlyle Group and Goode Partners are selling their stakes in the brand.
“We are thrilled to welcome Supreme to the VF family and to build on our decades-long relationship as we create value for all of our stakeholders. VF is the ideal steward to honor the authentic heritage of this cultural lifestyle brand while providing the opportunity to leverage our scale and expertise to enable sustainable long-term growth,” said VF Chairman, President and Chief Executive Officer Steve Rendle, adding, “The acquisition of the Supreme brand is further validation of our vision and strategy to further evolve our portfolio of brands to align with the total addressable market opportunities we see driving the apparel and footwear sector.”
Supreme joins VF’s impressive lineup which includes labels like The North Face, Vans and Timberland – all previous Supreme collaborators. “This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994,” said Supreme’s James Jebbia on the merger.
Supreme is expected to contribute at least $500 million USD in revenue in 2021 for VF, and VF also said that the label represents a “$1 billion global opportunity over time through international and direct-to-consumer expansion, core pillars of VF’s 2024 strategy.” For more information, read the full report over on Business Wire.