VF Corporation absorbs Supreme streetwear brand

Lifestyle footwear, apparel and accessories producer VF Corporation has signed a definitive merger agreement said to be valued at $2.1 billion (£1.6 billion) with privately-owned global streetwear brand owner Supreme. Current investors Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand.

Supreme retails apparel, accessories and footwear under its own global brand via direct-to-consumer channels, which are primarily digital. Supreme’s founder, James Jebbia, and the senior leadership team will continue to work with the company from its New York City headquarters. VF Corporation and Supreme have cooperated on a number of products over the years, including joint ventures involving Vans, Timberland and The North Face.

Known for its red and white box logo, the Supreme brand has gained a following among ‘hypebeasts’ – fans of the ‘streetwear’ casual fashion that has become a multi-billion-dollar retail sensation with roots in the graffiti, hip-hop, skate and surf cultures. Related product launches have reportedly sold out in minutes, with enthusiasts (who are mostly under 25 years of age) queueing outside Supreme stores for hours.

Past cooperation between the two companies has produced such footwear as the Timberland shoes shown at the top of this page.

Publishing Data

This article was originally published on page 2 of the December 2020 issue of SATRA Bulletin.

Other articles from this issue »

---