In a groundbreaking announcement on November 9, luxury brand Supreme revealed its new partnership with American company VF Corporation. This strategic move is set to make a significant impact on the apparel market. By joining forces with VF Corporation, Supreme will gain direct connections to key players in the streetwear and outdoor industries, including Vans, The North Face, and Timberland, with whom the brand has collaborated in the past.
Since its humble beginnings as a small skate shop in Manhattan in the early 1990s, Supreme has grown into a renowned brand. Despite being acquired by VF Corporation, Supreme will continue to collaborate with external entities, as stated by VF Corporation. As part of the deal, VF Corporation acquired the shares of investment firms Carlyle Group and Goode Partners to enter Supreme’s capital.
VF Corporation expressed their excitement about the partnership, welcoming Supreme to their family of brands via a tweet. The textile company believes that Supreme’s inclusion will provide them with greater access to opportunistic consumer segments, thanks to Supreme’s existing collaborations with various brands within the VF group. In addition, this partnership will enable Supreme to optimize its supply chain, enhance its visibility on international platforms, improve its digital capabilities, and gain a deeper understanding of consumers.
James Jebbia, the Founder of Supreme, expressed his pride in joining VF Corporation, an internationally renowned company with whom Supreme has collaborated for years. He emphasized that this partnership will allow Supreme to maintain its unique culture and independence while supporting the brand’s ongoing growth.
The transaction is estimated to be worth approximately $2.1 billion (around 1.7 billion euros), with Supreme currently generating an annual revenue of over $500 million. The official statement indicates that the transaction is expected to be finalized by the end of the year.
Sources:
– [VF Corporation Tweet](https://twitter.com/VFCorp/status/1325788191942505985)
– [VF Corporation Official Statement](https://www.vfc.com/investors/news-events/press-releases/detail/1597/vf-corporation-to-acquire-iconic-streetwear-company-supreme)
