Money Makers Mentor

VF Corp Acquires Supreme for $2.1 Billion

It was announced this week that VF Corporation (VFC), the owner of many popular clothing and shoe brands, has acquired 100% of privately-held streetwear clothing brand Supreme. The deal is valued at about $2.1 billion. VFC has also added that it would make an additional payment of up to $300 million, which is reliant on certain milestones being met after the deal has closed. The deal is expected to close by the end of 2020.

The company explained the benefits of having Supreme join its portfolio of brands. Supreme offers a $1 billion global opportunity over time through overseas and direct-to-consumer expansion. This is part of the company’s 2024 strategy. In the 2022 fiscal year, VFC says it expects Supreme to contribute at least $500 million of revenue. VFC had already seen a positiv…

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