VF Corp, the American conglomerate known for brands like The North Face and Vans, has officially completed its acquisition of iconic New York-based streetwear brand, Supreme. The acquisition, which cost a staggering $2.1 billion, brings together Supreme with a portfolio of renowned brands that it has collaborated with over the years.

Supreme, founded by James Jebbia in 1994, started as a small store in NYC and has since grown into a cult favorite among streetwear enthusiasts around the world. With VF Corp’s acquisition, Supreme is expected to experience unprecedented growth and expand its market presence.

According to documents submitted to the United States Securities and Exchange Commission, VF Corp may pay an additional $300 million for Supreme if certain milestones are achieved after the transaction. The company recognizes the immense potential of the brand and anticipates it contributing around $500 million to its annual revenues starting from the next fiscal year.

Although Supreme’s impact on VF Corp’s current fiscal year is expected to be modest, the company foresees significant growth in the coming years. With VF Corp reporting revenues of $10.49 billion in fiscal year 2020, the addition of Supreme positions the conglomerate for further expansion and success.

The acquisition of Supreme by VF Corp represents an exciting new chapter for both brands. The distinct streetwear aesthetic of Supreme, combined with VF Corp’s expertise and resources, creates a powerful synergy that is set to disrupt the fashion industry. With the support of VF Corp, Supreme will gain access to new distribution channels and global markets, allowing it to reach a wider audience and solidify its position as a global fashion leader.

As the integration process begins, fashion enthusiasts and industry experts eagerly await to witness the evolution of Supreme under the VF Corp umbrella. The acquisition is expected to bring forth new opportunities for collaboration and innovation, further cementing Supreme’s reputation as an influential and pioneering brand.

Overall, the completion of the acquisition represents a significant milestone for both VF Corp and Supreme. It showcases VF Corp’s commitment to expanding its portfolio of iconic brands while reinforcing Supreme’s status as a dominant force in the streetwear market. With its rich history and strong brand identity, Supreme is well-positioned to thrive under VF Corp’s ownership, and the fashion world eagerly watches as this new chapter unfolds.

Links:
1. VF Corp Brands
2. Supreme Official Website