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News November 9, 2020
By Snobette
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News

VF Corp Acquires Supreme In Deal Valued At $2.1 Billion

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November 9, 2020. 3 Comments

Denver-based VF Corp. today (November 9, 2020) announced it’s acquired streetwear brand Supreme in a deal valued at $2.1 billion. Current investors, The Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand. The Carlyle Group paid $500 million in 2017 for a 50% stake in Supreme. VF Corp.’s stock is up 10% on the news.

Founder James Jebbia and the rest of Supreme’s team will remain headquartered in New York, where the company was founded in 1994.

According to VF, Supreme generated $500 million over the past year with gross margins of over 60%. The company anticipates Supreme’s sales will grow 8%-10% growth over next five years through expanded direct-to-consumer and global sales.

While Jebbia is staying on, according to VF CFO Scott Roe, the company is buying 100 percent of Supreme. In press, VF has stated Supreme represents a “$1 billion global opportunity over time through international and direct-to-consumer expansion.” The transaction is expected to close late in calendar year 2020.

In a press release, VF CEO Steve Rendle stated, “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.”

“We are proud to join VF, a world-class company that is home to great brands we’ve worked with for years, including The North Face, Vans, and Timberland,” said Jebbia. “This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”

VF’s stable of brands includes Vans, The North Face and Timberland, all of which maintain ongoing collaborative partnerships with Supreme. VF Corp also owns Dickies, which it acquired in 2017.

News Streetwear Dickies Supreme The North Face Timberland Vans VF Corp

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