Apparel Brand Supreme acquired by VF Corp for $2.1 billion
VF Corp, the owner of Vans, Timberland, and The North Face clothing brand has acquired the famed streetwear brand Supreme in a deal worth $2.1 billion.
The Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand.
This deal comes three years after private equity firm The Carlyle Group bought a 50% stake in the streetwear brand for $500 million, which valued Supreme at $1 billion.
This is the same Carlyle Group who owned 50% stake for $500m in Beats Electronic and sold their stake to Apple for $3 billion just after eight months of the deal.
Supreme sells apparel, accessories and footwear under its namesake brand globally through direct-to-consumer channels, primarily digital.
The Supreme brand’s founder, James Jebbia and the senior leadership team of t...