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VF Corp Could Be Selling Supreme As Part of a Broader Portfolio Review

VF Corporation, the parent company that acquired Supreme in 2020 for a whopping $2.1 billion, is reportedly considering selling the streetwear brand. According to financial sources, Supreme is being quietly shopped around to potential buyers, and VF Corp has enlisted the help of Goldman Sachs to review its portfolio.

Supreme has been a fascinating brand in the fashion world. It gained immense popularity, setting the agenda for luxury streetwear. However, as it grew, some wondered if it could maintain its cool factor under corporate ownership. Private equity giant Carlyle invested in Supreme at a $1 billion valuation in 2017, and VF doubled down with its acquisition.

Despite its success, Supreme faced supply chain issues in 2022, surprising many given VF’s historical strength in this area. In fiscal 2023, VF took significant charges against the goodwill and trademark of Supreme due to higher interest rates and currency fluctuations. The brand’s performance was uneven that year, but things have improved since. VF’s outgoing CFO, Matthew Puckett, reported double-digit growth and positive momentum for Supreme.

Founder James Jebbia continues to lead Supreme, navigating the challenges within VF’s larger portfolio. VF owns other well-known brands like Vans, Timberland, The North Face, and Dickies. While Supreme remains a cultural icon, its corporate journey has been eventful.

As the brand potentially changes hands, sneakerheads and streetwear enthusiasts eagerly await the outcome.

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