Supreme Sold to Vans Parent Company VF Corp for $2.1 Billion
Legendary New York label Supreme has been acquired by VF Corp – the parent company of Vans, The North Face, Timberland, Eastpak, Napapijri and Dickies – for a figure reportedly exceeding $2.1 billion.
‘We’re 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 Supreme’s founder James 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.’
According to VF Corp’s chairman, president and chief executive officer Steve Rendle, the acquisition will provide the springboard for Supreme’s ‘sustainable long-term growth’ into the future.
‘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,’ said Rendle.
Having access to VF Corp’s global supply chain, international platforms, digital capabilities and consumer understanding will undoubtedly change the way Supreme operates moving forward. However, regarding partnerships, VF Corp intends to continue its current strategy when it comes to future collaborations, stating that Supreme won’t be limited to working collaboratively with brands within the VF portfolio.
You can read VF Corp’s full statement here.