Source: www.fibre2fashion.com
VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has completed its previously announced acquisition of Supreme, a privately-owned global streetwear brand, for an aggregate base purchase price of $2.1 billion. As a result of the transaction, Supreme has become a wholly owned subsidiary of VF Corporation.
The acquisition of the Supreme brand accelerates VF’s consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme and VF, with the Supreme brand being a regular collaborator with VF’s Vans, The North Face and Timberland brands.
"Supreme is expected to be modestly accretive to VF’s revenue and adjusted earnings per share in fiscal 2021. The Supreme brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted EPS in fiscal 2022," VF Corporation said in a statement.
