VF Corp set to acquire Supreme
VF Corporation, the American apparel and footwear company which owns brands including Vans, Timberland, Dickies and The North Face, is in the process of acquiring streetwear giant Supreme.
A statement on VF’s website reads: “Supreme provides VF with deeper access to attractive consumer segments that apply to many of VF’s existing brands.”
The acquisition follows a long-standing relationship between Supreme and VF, with Supreme being a regular collaborator with VF’s Vans, The North Face and Timberland brands.
The website also states that Supreme “will continue to work with brands outside of the VF portfolio.”
VF Chairman President and CEO, Steve Rendle, commented: 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 honour the authentic heritage of this cultural lifestyle brand while providing the opportunity to leverage our scale and expertise to enable sustainable long-term growth.”
Supreme founder, James Jebbia, added: “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. This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”