Image courtesy of Supreme
VF Corp. paid $2.1 billion for the New York streetwear king.
Those wondering how VF Corp.’s $2.1 billion acquisition of Supreme might change the crown jewel of streetwear will now have an idea of what’s in store. Steve Rendle, chairman, president and CEO of VF, spoke to Women’s Wear Daily about its shiny, new Box Logo asset and reiterated his original message from a November conference call — “We don’t want to mess it up.”
“We understand the skill set that sits inside this team,” Rendle said in the new interview. “We don’t want to disrupt this business. This business is really well run.”
Rendle pointed to Vans — one of VF’s owned brands alongside The North Face and Timberland — as a success story without major meddling. The Denver-based parent company acquired Vans for $396 million in 2004, and now it’s worth $4 billion “without being commoditized or ubiquitous.”
Credit: InputMag – Click to read the full article
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