Streetwear brand Supreme has merged with multi-fashion player VF Corporation as investors Carlyle Group and Goode Partners have sold their stakes in the brand. The merger will further accelerate VF’s hyper-digital business model transformation and drive its commitment to top quartile total shareholder return and long-term value creation. It will validate its vision and strategy to further evolve its portfolio of brands to align with the total addressable market opportunities driving the apparel and footwear sector.

The partnership will help Supreme maintain its unique culture and independence, while allowing it to grow on the same path we’ve been on since 1994. The transaction is expected to be completed late in calendar year 2020, subject to customary closing conditions and regulatory approval. Additional details regarding the transaction and the strategic rationale supporting it will be reviewed during a VF conference call.