Dickies Sold to Bluestar Alliance for $600 Million

Company Overview - VF Corp. is selling its Dickies brand to Bluestar Alliance for $600 million in cash [1] - Dickies, founded over a century ago, has transitioned from a workwear brand to also include streetwear, and is distributed in 55 countries [2] Management Insights - Bluestar's CEO Joseph Gabbay expressed a commitment to supporting Dickies' growth by leveraging consumer insights and operational excellence [3] - VF's CEO Bracken Darrell highlighted Dickies as an iconic American brand with significant growth potential under Bluestar's ownership [3] Financial Context - VF Corp. is strategically reducing its portfolio to manage debt, particularly following the $2.4 billion acquisition of Supreme in 2020 and its subsequent sale for $1.5 billion [3] - In the first quarter ended June 28, VF reported sales of $1.8 billion, with The North Face and Timberland showing growth of 6% and 14% respectively, despite an adjusted operating loss of $56 million [4] Bluestar Alliance Profile - Bluestar has been expanding its portfolio, having acquired brands like Palm Angels and owning labels such as Off-White and Scotch & Soda [5] - Founded in 2006, Bluestar manages a portfolio of over 500 licensees globally [5]