Vans Owner VF Corp to Buy Supreme for $2.1B.
VF Corp, which also owns brands such as The North Face and Timberland, made the announcement on Monday.
The company also said it was willing to pay up to an additional $300 million in post-deal closing costs.
With its 12 stores around the globe, Supreme's perceived scarcity has helped to cement an avid customer base of young people.
This scarcity, novelty and strong social influence model supports meaningful pricing power resulting best in class profitability, VF Corp Chief Executive Steve Rendle, via Reuters.
VF Corp Chief Executive Steve Rendle thinks Supreme has the potential to be at the center of a $50 billion global market.
Supreme has previously collaborated with iconic fashion names such as Vans, Levi's, Nike and Louis Vuitton.
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The deal is expected to contribute at least $500 million in revenue for VF Corp
