VF Corp Execs Have No Plans of Changing Supreme After Acquisition
Written by SOURCE on January 28, 2021
Back in November, VF Corporation announced an agreement in which it would acquire the iconic Supreme brand.
The deal, built on an acquisition worth a whopping $2.1 billion, formally closed on Dec. 28. In the days since, the integration has kicked off with the added confidence of the company closing strong in its third quarter.
And while it’s already been made clear by industry experts that the acquisition most certainly doesn’t—among other things—mean the brand will end up becoming an ubiquitous mall fixture, a new report from Women’s Wear Daily should drive the point home for any skeptics.
Speaking with the trade journal, VF CEO Steve Rendle eased the fears of anyone worried that Supreme would see a detrimental change-up with the deal.
“We understand the skill set that sits inside that team,” Rendle said. “We don’t want to disrupt this business. This business is really well run. It always makes me chuckle if people think we’re going to come in and change Supreme.”
CFO Scott Roe echoed these worries-crushing comments, reflecting on an early meeting he and Rendle had with Supreme founder James Jebbia that instilled a deep feeling of respect.
“They have a deep respect for what we do and we have a deep respect for what they do,” he said. “That is the basis of a really productive relationship. We don’t tell them how to run their business.”
And in a conference call with analysts, Roe praised the “beautiful, simple machine” of the Supreme empire.
“We don’t want to mess it up,” he added.
For more on what the VF acquisition means for the future of Supreme, revisit our rundown from last November right here.
