Did VF Corp, the hapless proprietor of stylish manufacturers like Vans and The North Face, rent Goldman Sachs earlier this month to market its smaller manufacturers, like cult luxurious streetwear model Supreme? Nobody denies the rumor or will verify it, however evidently VF is motivated to restructure its portfolio. The corporate's market capitalization has dropped to $four.7 billion since nearly 40 billion dollars in 2019, and activist investor Engaged Capital is pounding on its partitions. The corporate can be below stress to repair Vans, whose gross sales have fallen. 26 % in the latest quarter.
Supreme rumors are all over the place within the business. Final week I heard some rumors that VF rejected a suggestion from the Saudi Public Funding Fund. (VF didn’t reply to a request for remark and different individuals mentioned the entire state of affairs was nonsense.) There was additionally hypothesis that a potential investor is trying to type a “very fascinating” new strategic group, with Supreme at its middle. (Wow, a dream. However then once more, who is aware of. VF as soon as once more had nothing to say about it.)