While the news has been full of election results and politics, Supreme has entered the discussion this morning being sold to VF Corp for $2.1 Billion.
The VF Corp is most notably known for being the owners of brands like The North Face, Timberland, and Vans which all have been big collaborators with Supreme over the years. The $2.1 billion price-tag comes as a bit of a surprise with Supreme selling 50% of the company in 2017 to Carlyle Group LP at $500 million, valuing the company at $1 billion just three years ago.
As of now, it’ll be interesting to see VF Corp’s plans for the street-wear brand. When purchased by the Carlyle Group in 2017 we saw the momentum shift for the brand drastically with production numbers drastically being increased. Whether that will follow with this new change remains uncertain but with the change and a statement by James Jebbia, it looks like Supreme will always look to expand. James said, “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. This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994,”.
A notable point is that VF Corp has preserved the names of The North Face, Vans, and Timberland throughout the years, and with a big get like Supreme, they will likely keep the same motives. The corporation has been in close contact with Supreme without the years and has likely taken notes on what has worked and what hasn’t with the brands’ fans and perception so this could result in a big plus for the New York fashion label.
As always, JustFreshKicks will be reporting on any and all Supreme news with the FW20 season heating up, weekly updates will arrive with the droplist information and retail prices for each week, which allows you to stay in the loop on a weekly basis, so make sure to stay tuned for and all updates.
Image Via: Bloomberg News
