Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 20, 2020

Article Excerpt

VF CORP., $84.87, symbol VFC on New York, is one of the world’s largest apparel companies. Its brands include Vans, The North Face, Timberland, and Dickies. In May 2019, the company completed the spinoff of Kontoor Brands Inc. (symbol KTB on New York), its jeanswear business. Its brands include Lee and Wrangler. On November 9, 2020, VF announced that it would acquire streetwear brand Supreme for $2.1 billion. Supreme generates more than 60% of its revenue online with the rest from 12 stores in major cities worldwide. They include New York, San Francisco, Los Angeles, London and Japan. Founded in New York City in 1994, Supreme is known for its apparel products displaying a red-and-white logo bearing the brand’s name. The seller of skateboarding T-shirts, hats and sweatshirts has a following among teens looking for hard-to-get looks. Unlike traditional retail chains, which aim to sell as much product as possible, the label has relied on scarcity and word-of-mouth to generate buzz around its name…

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