VF Corp. selling Dickies brand for $600 million
VF Corp. continues to trim its brand portfolio.
The company said it has entered into an agreement to sell its Dickies brand to global brand management firm Bluestar Alliance for $600 million in cash. Founded over a century ago as a workwear brand, Dickies has expanded in recent years to include streetwear as well. It is distributed in 55 countries.
VF has been downsizing its portfolio as it looks to reduce its debt. The company, whose other brands include The North Face, Vans and Timberland, sold Supreme to optical giant EssilorLuxottica, parent company of LensCrafters and Sunglass Hut, in October 2024 for $1.5 billion. (EssilorLuxottica is the parent company of LensCrafters, Sunglass Hut and other eyewear brands.)
“As I’ve said before, we continuously evaluate our portfolio and this transaction will enable us to bring our net debt level down and will be accretive to our growth on a pro-forma basis,” said VF president and CEO Bracken Darrell. "I want to thank the entire Dickies team for their strong commitment to transforming the brand.”
Bluestar Alliance owns, manages and markets a portfolio of fashion, lifestyle and consumer brands, with more than 500 licensees and a growing branded retail platform of over 500 stores throughout North America, Europe, Australia, South America, Asia, the United Arab Emirates, the Middle East and India. Its brands include Scotch & Soda, Justice, Bebe, Tahari and others.
“We have followed the brand for many years and have a deep appreciation for its history and legacy, which VF Corporation has successfully begun to rebuild over the past few years,” said Joseph Gabbay, CEO of Bluestar Alliance. “We are committed to supporting the Dickies brand’s growth by leveraging our consumer insights and operational excellence to unlock its full value for all stakeholders.”
UBS is serving as financial advisor to VF, and Davis Polk & Wardwell LLP is serving as its legal advisor.
