VF ( (VFC) ) just unveiled an update.
V.F. Corporation has successfully sold its Supreme brand to EssilorLuxottica for $1.5 billion, as announced in their recent press release. The transaction, completed on October 1, 2024, follows the terms set out in the July 16 Purchase Agreement and includes customary adjustments. VF plans to use the net proceeds to prepay debt in line with its loan agreement terms. This strategic sale has been cleared by competition authorities, signaling a significant move in the branded lifestyle and optical industry.
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