Popular New York skate and streetwear brand, Supreme® recently announced that it has been acquired by Vans parent company, VF Corp.
In a decision that was reached Monday the Denver based company (VF Corp) agreed to purchase the stakes in Supreme® ,which were held by the Carlyle Group and privately held by the Goode Partners. An agreement that is valued at $2.1 billion. In a report obtained by NASDAQ the deal will be complete by the end of the year.
With past collaborations under their belt the CEO and Chairman , Steve Rendle stated “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,”
James Jebbia the Supreme® founder also let it be known that he was pleased with the decision by commenting “We are 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.” during a press release. Jebbia , along with senior management will remain with the company at the New York location.
Now with access to VF’s platforms and supply chains things will definitely change for Supreme® moving forward. Being that the brand is NOT limited to VF’s rolodex of collaborations we’ll have to wait and see what partnerships are obtained for the legendary brand.