VF Completes Sale of Majority Ownership Interest in John Varvatos Enterprises, Inc. to Lion Capital LLP
April 30 2012 - 2:29PM
Business Wire
The owners of John Varvatos Enterprises, Inc. – VF Sportswear,
Inc., a subsidiary of VF Corporation (NYSE: VFC), and John Varvatos
– today announced that they have completed the sale of the majority
ownership interest in the company to Lion Capital LLP, with Mr.
Varvatos retaining an ownership position. Terms were not
disclosed.
John Varvatos launched his namesake brand in 2000 with a
collection of tailored clothing and sportswear, and it now
represents an entire men’s lifestyle collection that includes
footwear, bags, belts, eyewear, limited-edition watches and men’s
fragrances, as well as the younger, edgier John Varvatos Star
U.S.A. Collection® and Converse by John Varvatos®. The John
Varvatos® brand was added to VF Corporation’s portfolio in
conjunction with its 2003 acquisition of the Nautica® brand.
Lion Capital will continue to operate the business as John
Varvatos Enterprises, Inc., headquartered in New York City. Mr.
Varvatos will maintain his role as Chairman and Chief Creative
Officer.
About VF
VF Corporation is a global leader in branded lifestyle apparel
with more than 30 brands. The company’s top six brands are The
North Face®, Wrangler®, Timberland®, Vans®, Lee® and Nautica®;
other brands include 7 For All Mankind®, Bulwark®, Eagle Creek®,
Eastpak®, Ella Moss®, JanSport®, Kipling®, lucy®, Majestic®,
Napapijri®, Red Kap®, Reef®, Riders® , Splendid® and
Smartwool®.
VF Corporation's press releases, annual report and other
information can be accessed through the company's home page,
www.vfc.com.
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