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VF Corp sells Licensed Sports Group business to Fanatics
05
Apr '17
VF Corporation, a leader in branded lifestyle apparel, footwear and accessories, has announced that it has entered into a definitive agreement to sell its Licensed Sports Group (LSG) business to Fanatics, Inc. VF's LSG business includes the Majestic brand, which supplies apparel and fanware through licensing agreements with US and international sports teams.

The transaction, which is expected to close in the second quarter of this year, is subject to standard customary closing conditions for a closing to occur. Terms of the agreement were not disclosed.

VF Corporation outfits consumers around the world with its diverse portfolio of iconic lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee.

Fanatics is a global leader for officially licensed sports merchandise. Fanatics comprises the broadest online assortment by offering hundreds of thousands of officially licensed items via its Fanatics, FansEdge and Kitbag brands, as well as the largest selection of sports collectibles and memorabilia through Fanatics Authentic. (KD)

Fibre2Fashion News Desk – India


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