Market Data copyright © 2021 QuoteMedia. “We are thrilled to welcome Supreme to the VF family and to build on our decades-long relationship as we create value for all of our stakeholders. VF Corporation and streetwear brand Supreme have inked a merger agreement, while Goode Partners and The Carlyle Group are selling their investments in the Supreme … All told, VF ended the quarter with $3.9 billion in cash and short-term investments and the next day spent $2.1 billion of that to close the Supreme deal. We’ll have more information to come this morning. Die Marke aus New York ergänzt das Portfolio von VF, zu dem bereits Timberland, The North Face und Vans gehören. On January 27, the parent company of Vans and The North Face reported that both sales and profits declined during the three-month period ending on December 28. Supreme’s annual revenue is $500 million. Streetwear, declared “dead” by Off-White founder Virgil Abloh this time last year, has surged during the pandemic. (Photo by Chesnot/Getty Images) Getty Images. Das Unternehmen geht davon aus, dass Supreme im Geschäftsjahr 2022 rund 500 … “There are public companies in this sector that are hungry for this kind of growth.”. With its luxury ties, one might have expected Supreme to sell to a luxury group like LVMH or Kering, says fashion lawyer and NYU fashion law professor Douglas Hand. “Looking at similar streetwear brands and looking at how much volume of brands like [Supreme] the Chinese consumer purchases and transacts, it seems like there’s a very ready market,” he says. “We would not be surprised to see more similar transactions in this space,” she says. “Given shorter-term life cycles in the past, the fact that it is still around should really be a signal.” Supreme will hit $500 million in revenue for this year, according to VF Corp, with predicted 8-10 per cent growth by 2024. Since streetwear and luxury began to converge in 2017, with the launch of the Supreme x Louis Vuitton collaboration, brands like Louis Vuitton, Dior and Burberry have adopted aspects of the streetwear business model, using product drops, scarcity and logomania to drive consumer demand, particularly among younger generations, while collaborating with streetwear brands like Supreme, Stüssy or Bape to drive interest. VF Corporation Announces Definitive Agreement to Acquire Iconic, Global Streetwear Leader Supreme. And so they’re willing to pay that premium,” he says. VF Corp. jumped the most in 33 years after agreeing to buy Supreme, a streetwear fashion label, for $2.1 billion to bolster its portfolio of apparel and footwear brands. “This is retail business management at its finest and it’s absolutely scalable,” Rendle adds, “it can be done in a thoughtful way that’s not diluting.”, Presently, Supreme has six stores in Japan, four in the US and two in Europe in London and Paris. Many translated example sentences containing "Supreme advisor" – French-English dictionary and search engine for French translations. To receive the Vogue Business newsletter, sign up here. VF's supreme brand right now is The North Face The apparel company spent $2.1 billion to beef up its portfolio with the viral streetwear label Supreme, but "gorpwear" is where it's at. “When we think about other brands in our coverage, like Canada Goose and Moncler and the amount of consumption that you can see, you see that [the Chinese] consumer is a big fan of logos, big fan of streetwear and a big fan of luxury.” Finding alternative ways to maintain its scarcity and exclusivity with highly unique and privileged in-store experiences will be key, says Clarke. VF Corp. signed a definitive merger agreement to acquire Supreme, the streetwear brand. This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”. The deal shines a light on the effects of the pandemic on the fashion landscape and underlines the importance of streetwear as its own category. Email us at feedback@voguebusiness.com. VF provides Supreme ® opportunities to leverage its global supply chain, international platforms, digital capabilities and consumer understanding. Streetwear has its origin in the 80s and 90s, as a niche market around skateboards, hoodies and hip-hop, says Laura Leeb, director with PwC Strategy& Austria who co-authored the report Streetwear: The new exclusivity. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). VF Corp has existing operations in APAC and Europe that can help Supreme expand, particularly in China, where appetite for streetwear is high, says Binetti of Crédit Suisse. With VF Corp.’s $2.1 billion-plus deal to buy Supreme, the white-hot center of the $50 billion streetwear world is coming to Wall Street for the first time. Terms of Use. Supreme has found its new home at VF Corp. with a $2.1 billion deal guaranteed to reverberate through the tight knit streetwear community and on Wall Street..
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