Supreme acquired by Timberland owner VF in $2.1bn deal

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Iconic streetwear brand Supreme has been sold to VF Corporation, which owns brands including Vans and North Face, in a deal valued at $2.1bn (£1.6bn).

The acquisition by VF Corporation will see Supreme’s existing management including founder James Jebbia remain in post. VF chief executive Steve Rendle said the company was “not coming in to make changes” and would instead “support and enable … a high-performing business”.

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