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VF Corporation considers selling luxury streetwear brand Supreme



The company has enlisted Goldman Sachs to assist in reviewing its portfolio.
Supreme - unsplash

Supreme, the luxury streetwear brand, may soon be on the market as VF Corporation explores selling it off. Reports from WWD indicate that VF Corporation, which acquired Supreme for $1.2 billion USD in 2020, is now seeking potential buyers. The company has enlisted Goldman Sachs to assist in reviewing its portfolio.

Background and market speculation

This potential sale aligns with VF Corp.'s long-standing strategy of spinning off parts of its portfolio. While Supreme was not initially a specific target, recent evaluations suggest it might no longer fit VF Corp.'s forward-moving vision. A spokesperson from VF Corp. stated, “As a matter of policy, we don’t comment on market rumors or speculation,” and Goldman Sachs has also declined to comment.

Supreme's market position and challenges

Supreme has long held a significant position in the high streetwear market. In 2017, private equity firm Carlyle invested in Supreme, valuing it at $1 billion USD. The subsequent sale to VF Corp. doubled that valuation, putting Supreme at the forefront of cultural buzz. However, its perceived coolness has waned, with an investment banker noting, “The brand got too big to continue to be cool.”

Recent years have seen Supreme face various challenges, including supply chain issues in 2022 and the controversial departure of ex-creative director Tremaine Emory due to alleged “system racial issues.”

Continued global expansion

Despite these challenges, Supreme continues to expand globally, with new store openings in Seoul and Shanghai. VF Corp., which reports annual sales of almost $11 billion USD, owns a diverse range of brands including Vans, Timberland, The North Face, and Dickies. The company has been actively trimming its portfolio under new CEO Bracken Darrell, aiming to focus on core assets that align with its strategic goals.

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