VF Corp announced it has signed a definitive merger agreement with Supreme, a privately-owned global streetwear brand. Current investors, The Carlyle Group and Goode Partners, are selling their stakes in the Supreme brand. The transaction is expected to be completed late in calendar year 2020, subject to customary closing conditions and regulatory approval.

Supreme sells apparel, accessories and footwear globally under its namesake brand through direct-to-consumer channels, primarily digital. The brand’s founder, James Jebbia, and the senior leadership team of Supreme are to remain with the company, headquartered in New York.