DENVER, United States – VF Joint Stock Company has launched the supreme street fashion market.
The conglomerate that owns Vans, Timberland and The North Face, will acquire the cult brand, with current private equity investors The Carlyle Group and Goode Partners selling their stakes.
This deal is expected to end by the end of this year. VF said it expects Supreme will contribute at least $ 500 million in revenue by 2022. Founder James Jebbia will stay in the company.
Goode Partners made a secret minority investment in the brand in 2014, while Carlyle acquired a 50% stake in 2017. At the time, sources said BoF Carlyle Group had paid out about 500 million dollars in a streetwear business valuation deal of more than $ 1 billion.
Supreme is often referred to as “Chanel“Of streetwear, expanding its cult brand from a single store that sprung up in 1994 on New York’s Lafayette Street into a multibillion dollar global business, enters the realm of fashion. luxury sites through blockbuster deals with names like Louis Vuitton.
So far, Jebbia has managed a good balance between maintaining the brand’s appeal for counterculture while also pursuing commercial success and global growth.
Stay tuned for BoF updates to this growing story.