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2 years ago

Vans Owner VF Corp to Buy Supreme for $2.1B

Wibbitz Top Stories
Wibbitz Top Stories
Vans Owner VF Corp
to Buy Supreme for $2.1B.
VF Corp, which also owns brands such as The North Face
and Timberland, made the announcement on Monday.
The company also said it was willing to pay up to
an additional $300 million in post-deal closing costs.
With its 12 stores around the globe, Supreme's perceived scarcity has helped to cement an avid customer base of young people.
This scarcity, novelty and strong social influence model supports meaningful pricing power resulting best in class profitability, VF Corp Chief Executive Steve Rendle, via Reuters.
VF Corp Chief Executive Steve Rendle
thinks Supreme has the potential to be at
the center of a $50 billion global market.
Supreme has previously
collaborated with iconic
fashion names such as Vans,
Levi's, Nike and Louis Vuitton. .
The deal is expected to contribute at least
$500 million in revenue for VF Corp

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