You may not have heard of the VF Corporation, however, the American apparel and footwear company likely owns one of the brands in your wardrobe. Specifically, the conglomerate not only owns the likes of The North Face, Dickies, Vans, and Timberland but is also set to add none other than Supreme to their collection.
The deal, which was first announced by WWD, is expected to close before the end of VF Corp’s 2020 fiscal year. As for how much money we’re talking, it’s a lot, $2.1 billion to be exact. This is mainly due to the fact that Supreme’s current investors, The Carlyle Group and Goode Partners, have agreed to sell all of their stakes in the brand.
The Carlyle Group were first confirmed to be backing Supreme in 2017. Then, people were concerned that the investment would mean losing some of the brand’s raw nature. Jebbia acknowledged this wouldn’t be the case, and that the investment would simply provide the “operational expertise needed to keep us on the steady path we’ve been on since 1994.”
Well, fast-forward a couple of years and it appears that fans of Supreme still have the same concerns. Consequently, Jebbia reiterated in a statement that Supreme would maintain its independence. Specifically, Jebbia stated: “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.”