VF Corporation, the Denver-based owner of The North Face, Vans and Timberland, has unveiled plans to buy global streetwear brand, Supreme.
Current investors, The Carlyle Group and Goode Partners, are selling their stakes in the brand.
The transaction is expected to be completed late in the calendar year 2020, subject to customary closing conditions and regulatory approval.
Supreme sells apparel, accessories and footwear under globally, primarily through digital channels. Supreme’s founder, James Jebbia and the senior leadership team of the brand will remain with the company, headquartered in New York.
“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,” said Steve Rendle, VF’s Chairman, President, and Chief Executive Officer.
“The acquisition of the Supreme brand is further validation of our vision and strategy to further evolve our portfolio of brands to align with the total addressable market opportunities we see driving the apparel and footwear sector.”
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