• Skip to primary navigation
  • Skip to main content
Subscribe
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna
  • Follow
    • INSTAGRAM
    • FACEBOOK
    • PINTEREST
    • TWITTER
    • YOUTUBE
News November 9, 2020
By Snobette
SHARE THIS ARTICLE
Share Tweet Pin Linkedln Email Reddit
News

VF Corp Acquires Supreme In Deal Valued At $2.1 Billion

supreme-north-face-fall-2020

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

What To Read Next

Read More
News

Mowalola Credits Kanye West For Saving Her Spring 2024 Fashion Presentation

London-based Nigerian fashion designer Mowalola Ogunlesi has provided her first official interview since since presenting her spring 2024 Mowalola

Read More ...
by Lois Sakany on November 27, 2023
SHARE
Read More
News

Stylist And Editor Gabriella Karefa-Johnson Resigns From Vogue Editor Role

U.S.-born stylist and editor Gabriella Karefa-Johnson has announced she has stepped down from her role as Vogue global

Read More ...
by Lois Sakany on November 26, 2023
SHARE
Read More
Accessories

Tremaine Emory Enlists Frank Ocean’s Homer Team For Custom Gold Wedding Bands

Denim Tears designer Tremaine Emory hasn't provided a lot of details on his recent City Hall marriage to

Read More ...
by Lois Sakany on November 13, 2023
SHARE
Givenchy reative director Matthew M. Williams will Givenchy reative director Matthew M. Williams will step down from the role following a three-year stint with the LVMH-owned label. Williams will present his final collection with a men's and women's pre-fall 2024 collection, to be unveiled in the coming days. 

Leading the creative direction of Givenchy was, as I said upon my arrival in 2020, the dream of a lifetime,” Williams said in the statement. “Over these three years, I have strived to perpetuate Mr. Hubert de Givenchy’s legacy while bringing my own creative vision and I would like to sincerely thank the studio, Renaud de Lesquen and LVMH for this incredible opportunity.”

While Williams was credited with the buzzworthy Shark boot and Voyou handbag, he was often derided by the online fashion community for falling short of achieiving the same level of buzz and cool when the label was under Riccardo Tisci's creative direction from 2005 to 2017.

Williams will continue to head creative direction for his own label, 1017 Alyx 9SM, which recently announced plans to ramp up production and expand door count through a parntership with Adrian Cheng, a Hong Kong entrepreneur.
Givenchy and Matthew M. Williams bid farewell afte Givenchy and Matthew M. Williams bid farewell after three years. Effective January 1, 2024, change is embraced with optimism, as Givenchy expressed in a brief  statement with WWD. 

Williams' departure coincides with the conclusion of his initial contract and the dawn of a strategic partnership with Hong Kong entrepreneur Adrian Cheng. Together, they chart the course for the evolution of 1017 Alyx 9SM, envisioning freestanding boutiques and an amplified presence in jewelry, shoes, and accessories. 

Who got next?
Is it a Mackage coat without the fur collar? @soun Is it a Mackage coat without the fur collar? @soundsaboutangela would like to know...
Shelly-Ann Fraser-Pryce, the Olympic Gold Medallis Shelly-Ann Fraser-Pryce, the Olympic Gold Medallist and World Champion from Jamaica, has recently become a brand ambassador for luxury Swiss watchmaker #RichardMille. 

She sports the RM 07-04 Automatic Sport timepiece, tailored specifically for women. Crafted with insights from six influential female athletes over three years. 

The Richard Mille RM O7-04 retails for $185,000.
LSU star player Angel Reese will return to the cou LSU star player Angel Reese will return to the court on Thursday vs. No. 9 Virginia Tech, news announced today by head coach Kim Mulkey during a press conference. Reese sparked chatter when she missed her past four games for reasons that remain undisclosed.

When asked about her absence on Nov. 20th, Mulkey said, "You always have to deal with locker room issues. That’s just part of coaching. In 40 years, I can never think of a time where I didn’t have to deal with issues. That’s what coaches do. Sometimes y’all know about it and sometimes you don’t. Sometimes you want to know more than you’re entitled to know." 

Reese's close friend, senior LSU guard Kateri Poole, has also missed the team’s last four games.
Jerry Lorenzo has unveiled a look at #FearOfGodAth Jerry Lorenzo has unveiled a look at #FearOfGodAthletics.

The long awaited capsule made in collaboration with #Adidas will be available at 751 South Mission Street in Los Angeles on Nov. 30th through Dec. 3rd from 11AM-6PM

The collection will launch online on Dec 3rd on fearofgod.com.
INSTAGRAMFACEBOOKPINTERESTTWITTERYOUTUBE
  • Home
  • About
  • Contact
  • Shop

Copyright © Snobette - Privacy Policy

Asset 1
Asset 1
Asset 1
  • About
  • Contact
  • Privacy Policy
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna