VF Corp., a prominent fashion and footwear company based in the United States, is reportedly considering selling its Jansport backpack business. The potential deal could value Jansport at around $500 million, according to sources cited in a report by Bloomberg. VF Corp. has enlisted the help of an advisor to facilitate the sale process for Jansport, but a final decision on whether to pursue the sale or retain the brand has yet to be made.

Founded in 1967, Jansport is an American manufacturer of backpacks, collegiate apparel, travel bags, and other related products. Over the years, it has established itself as a reputable and popular brand in the industry. VF Corp. acquired Jansport as part of its expansion strategy and it is one of several well-known brands under VF Corp.’s umbrella, including Supreme, Vans, Timberland, and The North Face.

In 2020, VF Corp. made headlines with its acquisition of streetwear brand Supreme for $2.1 billion, further strengthening its diverse portfolio. This acquisition, along with its existing successful footwear brands like Vans and Timberland, as well as outdoorwear brand The North Face, has contributed to VF Corp.’s growth and success in the fashion industry.

In addition to considering the sale of Jansport, VF Corp. recently announced the retirement of its chairman, president, and CEO, Steve Rendle. Benno Dorer, the company’s lead independent director, will serve as interim CEO while VF Corp. searches for a permanent chief executive.

The potential sale of Jansport represents a strategic decision for VF Corp. as it aims to focus its resources on other brands within its portfolio amidst the ever-changing fashion landscape. This move would allow the company to streamline its operations and strengthen its competitive edge in the market.

While VF Corp. continues to make strategic moves and adapt to industry transformations, stakeholders and industry analysts are eagerly awaiting any updates on the potential sale of Jansport. This decision will undoubtedly impact the future direction and performance of VF Corp. in the global fashion market.

For more information on VF Corp. and its brands, you can visit their official website: https://www.vfc.com/. Additionally, to learn more about Jansport and its products, you can visit their official website: https://www.jansport.com/.