Supreme Bought by VF Corp. for $2.1 Billion

VF Corp., the apparel company, has plenty of famous brands under their wing. This includes Vans, Timberland, Dickies, Kodiak and more. Now, VF Corp. is adding another brand to their list and it's a big one: Supreme. VF Corp. just recently agreed to buy the incredibly famous streetwear brand for a total of $2.1 million. It goes without saying that this is an extraordinarily significant move in the fashion world as the popularity of Supreme continues to rise. According to Bloomberg, Supreme will add at least $500 million of revenue in the fiscal year after March 2021. As for the transaction itself, expect it to be completed by the end of 2020. In the meantime, VF Corp.'s stock has been flying up (13% when writing this) since the news has broken about the acquisition. Looks like investors are completely on board with this move.